Dropshipping: The Safest and Easiest way to start an Online Business
Updated: Aug 4, 2019
Have you always been interested in starting your own business? Don’t know where to start? Well first, let’s address this question. What product or service are we providing here? If you are not providing something 100% unique, chances are you looking to either brand yourself or your company with merchandise.
What is branding? By definition, the word means “the promotion of a particular product or company by means of advertising and distinctive design”. So in this particular situation, a company or an individual can brand themselves by adding their logo or any intellectual property (i.e. artwork, design, etc) onto merchandise such as t-shirts, hoodies, mugs, etc.
How does one go about this? Well we have a few different options here. You can either design your own artwork or hire someone to do it. Next, you have to contact manufacturers and suppliers to bring your creation to life – whether that’s a t-shirt, hoodie, dress, etc. The pro of this method is that when you buy your product in bulk, it is usually relatively cheap. The con of this method is that you run the risk of over buying inventory. If you cannot expect to sell all the merchandise you purchased, you always run into the problem of wasting money if not handled properly.
Let me guess. You are a small business and are unsure if you can sell the inventory you purchase. Well, I have some good news. There’s another method to this madness. You can always opt to dropship your merchandise. What is dropshipping? By definition, it is “a supply chain management method in which the retailer does not keep goods in stock but instead transfers the customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer”. The pro of this method if that you can essentially create an infinite amount of uniquely printed products as per the dropshipping company provides. The con is that this method happens to be more expensive.
There are several big players in the dropshipping game. The companies we recommend are printful, printify, and teespring. They each have their own products you can brand on, which gives you limitless possibilities. Typically for a small fee per month, they will handle all of the leg work. They provide the blank apparel or merchandise, will print your design, brand your package and even ship out to your customer. The best part about this? It is all automated. You can have your online store set up so that all of your items can be bought and fulfilled immediately.
Dropshipping is is the safest way to start an online business with the least startup cost. It is a great way to build a relatively new or small brand without having to spend tons of money on withholding inventory. Over time, a strategy can be implemented with dropshipping by building demand. Once you know what your customers are interested in, you can then start holding onto inventory which yields higher profit margins. At least this way you can be somewhat sure you can push all the merchandise you create.