No Inventory, No Problem: Why Dropshipping is the Best Side Hustle?
Dropshipping explained; No Inventory but your freedom to control; First part of the full dropshipping series.
First of all let me tell you all an important thing about the series. There are a lot of authors who write about hustling in dropshipping, making quick cash in “reading-time” and suddenly share their affiliate links forcing people to sign-up through them and primarily focusing on the latter. I am not earning anything from medium since I live in a country ineligible for medium partner program so my principle focus is to deliver the best content without any primary focus on getting financial return. I was on a break from medium meanwhile I learnt about dropshipping and somehow championed it and decided to share with you guys first!
In recent years, dropshipping has emerged as one of the most popular side hustles for entrepreneurs and individuals seeking additional income streams. This business model offers numerous advantages that make it an attractive option for those looking to start a side business without significant upfront costs or inventory management. In this article, we’ll explore why dropshipping stands out as the best side hustle for many.
Dropshipping is a business model where you sell products to customers without actually having to stock or handle the items yourself. Instead, when a customer makes a purchase, you buy the product from a third-party supplier who then ships it directly to the customer. This means you don’t need to invest in inventory upfront or deal with the hassle of storing and shipping products. It’s a low-risk way to start a business and can be done from anywhere without any physical presence.
Now the best host for dropshipping…choosing Shopify is a good idea because it’s easy to use, has special tools for dropshipping, and helps you set up a professional-looking online store. It also handles payments smoothly, offers customizable designs, and has extra features through its App Store. Plus, it provides support whenever you need help. Shopify is reliable and can grow with your business, making it a top choice for dropshipping. Whereas WordPress + woo is no comparison to Shopify and especially if you are starting and want to succeed fast Shopify is your only stake. “Dropshipping on Shopify” deserves a whole story itself
Advantages of Dropshipping:
- Low Initial Investment: Dropshipping doesn’t require a significant upfront investment in inventory.
- Reduced Risk: Since you don’t need to purchase inventory upfront, you won’t be stuck with unsold products.
- No Need for Physical Storage: With dropshipping, you don’t need to worry about warehouse space or storage costs.
- Location Independence: You can run a dropshipping business from anywhere…just require a PC/Laptop + Internet.
- Scalability: As your business grows, you can easily scale up by adding more products or expanding into new markets.
- Less Overhead Costs
- Time Efficiency: Since you’re not responsible for packing and shipping products, you can use your time more efficiently, focusing on growing your business, finding new products, and optimising your marketing strategies.
- Reduced Barrier to Entry: You don’t need to deal with the complexities like registering a formal e-commerce company!
- It’s an endless list…
In conclusion, dropshipping stands out as the best side hustle for many due to its low initial investment, minimal risk, and flexibility. With these advantages, it presents a unique opportunity to generate additional income and potentially grow a thriving online business.
