Drop shipping, a retail method that requires no inventory, works well for entrepreneurs who lack the capital to invest in buying or manufacturing products for sale. Follow these tips for success if you’re planning to start a drop-shipping business.
- Conduct market research on search engines, such as Google and Bing. Keyword tools provided by search engines give insights into the products web users want to buy.
- Choose sought-after niche products that are hard to find in brick-and-mortar stores; scarcity can drive your sales.
- Build buzz about your goods before they’re available for sale. Marketing in advance ensures positive cash flow when the goods come to market.
- Use cloud accounting software to track your sales. Software such as QuickBooks can sync all data from your e-commerce store for easy and accurate bookkeeping.