Lesson 65 of Personel Finance

Dropshipping is the way I would go when having a small business.drop shipping is an online business. To become a dropshipper you would have to find and/or a product you want to sell. Products such as clothing, shoes, room decor, and many other things. To sell this product I would promote it on social media such as youtube, instagram, pinterest, tiktok, ect. The best part of dropshipping is the fact that I don’t have to house any of the products at home. Instead I would partner with a manufacturer that would make the product and they would ship it out to the buyer. All I would have to do is to build a storefront or platform that is easily accessible by others then the products will get shipped from the manufacturer straight to the customer that makes a purchase online. To get the store up and running all I would need to do is to pay for the domain subscription and the fees associated with using a dropshipping platform. Probably one of the biggest advantages to dropshipping is that it is possible to launch an online store without investing thousands of dollars in inventory. Without upfront inventory investments it’s very possible to start a successful dropshipping business on very little money. There is also less risk involved when you don’t have to be committed to selling through inventory purchased upfront. Dropshipping is a business that’s very easy to start. When dropshipping you won’t have to worry about paying and managing a warehouse, packing and shipping your products, tracking inventory for accounting purposes, handling returns, or continually  ordering products for inventory and managing stock levels. Because you don’t have to deal with managing and buying products, the overhead is very low. All dropshipping requires is a home base, a laptop, and a few recurring expenses. 

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