How to Make Money doing Dropshipping Business in Nigeria:
WHAT'S DROPSHIPPING
OVERVIEW
Drop-shipping is the practice of an individual or business, selling products that they do not maintain in stock on their website. Upon receiving an order, they forward it to a different business so that the product can be shipped straight to the customer. They might charge more because they act as intermediaries. The proceeds from the high sale price are retained by the drop-shipper.
GOALS
⦁ Your customer places an order from your online store
⦁ Your store automatically sends the order to your drop-shipping supplier
⦁ Your drop-shipping supplier prepares your customer’s order
⦁ Your drop-shipping supplier ships the order directly to your customer
⦁ You do all these from the comfort of your home without having to run logistics expenses
10 STEPS TO KICKSTART YOUR DROPSHIPPING BUSINESS IN NIGERIA
Dropshipping, a business strategy that enables entrepreneurs to sell products without retaining inventory, has gained significant traction in the African market.
As the business owner, you purchase the product from a third-party supplier whenever a customer places an order, and the provider ships the item straight to the customer.
Because it does away with the need for upfront inventory costs, storage space, and delivery difficulties, this business model is growing in popularity.
Since it's an affordable alternative for entrepreneurs to launch an online business without having to stock physical goods, it's become more and more popular in Nigeria.
Here are the following steps to start Drop-shipping business in Nigeria
1. Research and choose a niche: Identifying a niche market that has demand in Nigeria and is not oversaturated with competition will provide you an edge over your rivals. You can't spot anything suspicious about the products' quality, the way they're made, the price, or anything else associated if you don't know anything about the niche you've chosen.
You must choose a niche that you are truly interested in and that is laser-focused. It will be challenging to promote a non-focused product line. Because it takes a lot of work to properly expand a drop shipping business, you are more likely to give up if you aren't passionate about the niche you choose.
2. Conduct market research: After you have chosen your desired niche, now is time to do some market research on the particular niche you're working on, for example shoe reselling, t-shirt, beauty and cosmetics, electronics etc Understand the preferences and buying behavior of Nigerian consumers in your chosen niche. You do not want to get products on your online store with money spent on ads and yet no customers. so it is imperative to conduct market research. ( try selling Air Humidifier, get a slick looking one and watch Customers flock your store. Also get videos and too.
3. Choose a Reliable Drop-shipping Supplier: Several internet vendors are available on the goods you intend to market. The success of your drop-shipping business, however, is on locating trustworthy vendors that can offer premium goods at affordable costs. When conducting supplier research, seek out companies with a solid track record, quick shipment, and a large selection of goods. You can use a variety of drop-shipping vendors, such as SaleHoo, AliExpress, Alibaba, and many others. To save money on shipping and expedite delivery, you might also think about working with regional vendors in Nigeria.
4. Create a professional Store: After selecting your products, niche, and dependable provider, it's time to set up your web store or choose the platform you'll use to make sales.
You can choose to sell on platforms like Instagram, Snapchat, and WhatsApp, or you can put up your business using e-commerce platforms like WordPress, WooCommerce, or Shopify.
However, use names or domain names that are simple to remember when setting up your online store. Next, create your website and include your merchandise. Make sure your website is mobile-friendly, visually appealing, and simple to use.
5. Set up Payment and Shipping Options: Integrate secure payment gateways and establish reliable shipping methods for delivering products to customers in Nigeria. You can achieve this using SHOPIFY. You can also integrate GIG logistics to make it easier and faster. Also Using flutterwave or Chipper makes the the payment seemless.
6. Develop a Marketing Strategy: Now that your online store is operational, it's time to launch your company's marketing campaign. There are numerous approaches to advertise your drop-shipping company, such as:
Social Media Marketing: To reach your target audience and advertise your items, use social media sites like Facebook, Instagram, Whatsapp, Tik-Tok and Twitter
Content Marketing: Produce articles, films, and other materials that inform readers about your company and its offerings. creation 2 or 3 minutes video displaying what the product can do or what need it solves. this isuals can presented to you audience through social media.
Influencer Marketing: Collaborate with industry leaders to market your goods to their audiences.
Search engine optimization (SEO): Make your website more search engine friendly to increase traffic and rating.
Pros & Cons of Drop-shipping business in Nigeria:
Like launching any new business, drop-shipping has both advantages and disadvantages.
Pros of Drop-shipping Business.
1. Low investment: One of drop-shipping's greatest benefits is that you may start your own online store without having to spend thousands or even hundreds of thousands of dollars on inventory.
2. Easy to start: Operating a Drop-shipping business is simpler when you don't have to worry about physical inventory and transportation costs, aside from choosing a supplier and putting up your online store. and you have to work from the convenience of your own home for all of these.
3. Low overhead: Your expenses will be kept to a minimum because you won't have to worry about managing our storage facility or buying merchandise. With a laptop, you may manage your Drop-shipping company from home.
4. Flexibility in location: No need to pay high rent. You may operate a drop-shipping business from almost any location as long as you have internet access.
5. Easy to scale: By using dropshipping suppliers, you may expand and scale more quickly and with less effort because the suppliers will handle the majority of the job..
Cons of Drop-shipping Business:
1 Low margins: In a highly competitive drop shipping industry, the largest drawback is having to deal with reduced margins. Many retailers open their store with extremely low prices in an effort to boost sales right away.
2. Shipping and returns: Since shipping charges might differ between suppliers, using many suppliers—as many drop shippers do—can complicate matters. You also give up control over the pace and quality of shipping.
3. Lack of visibility: A portion of your customer happiness is outsourced when you interact with suppliers. A significant portion of the total customer experience is being built and delivered by someone else. Should something go wrong with the supplier, your customer will blame you and that's not going to look good on your business. you may lose a lot of your potential customers.
CONCLUSION
Dropshipping is a very well-liked business strategy among new business owners, particularly in Nigeria. Emergence of new competitors is facilitated by the fact that you do not have to touch or stock the products you are selling.
The above tutorial will assist you in understanding the procedures required to start your own dropshipping company from beginning, but in order to achieve great success, you must continuously innovate in terms of product selection, cost, promotion, and delivery strategies.
great article
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