Dropshipping is one of the most lucrative businesses in Nigeria today, and even across the globe. In these times where people are finding it hard to raise capital for their businesses, dropshipping comes in handy.
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According to an article by
Invoice, dropshipping “is a retail fulfilment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the
customer.”
This means that the dropshipping model does not require you to be in possession of the products for sale. You are, therefore, the middle man in the entire loop. The dropshipping model has some advantages such as your own store not having to manage inventory or go through the stress of shipping the products yourself. This looks interesting already. So, here are steps you should take if you want to start a successful dropshipping business in Nigeria.
The first step you will want to take in order to start a successful dropshipping business is to find a niche that works for you. You should select a product or range of products that you are genuinely passionate about. This is vital because if you exert your energy on a niche that you are not passionate about, it will be difficult for you to market and sell efficiently. Niching down will help you assess the quality of the products, the pricing system and the entire process.
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This is one step you need to take your time with. You will have to carefully search for a reliable supplier. Ask questions too. Within Nigeria, you should conduct your research and go for a supplier that has a good track record. For suppliers outside Nigeria, you should research a couple of them. A typical example is
Alibaba, which has been used by many dropshippers. You can explore others yourself.
After you must have known the niche that you will be laser-focused on and the supplier you will be going into business with, the next step is to choose a platform that works best for your brand. This refers to your online store. You can either create your own e-commerce website or sell on popular ones
like Jumia, Konga and
Jiji. The most important thing is that you choose one that will help you scale your business easily.
One of the greatest investments you can make in your business is an investment in marketing. Marketing in business cannot be overemphasized. It is one of the strongest pillars of your business. And to ensure business growth, you must market it. How else will the world embrace what you are offering when they don’t even know what it is, because you have not made it visible? Run social media ads, enforce content and email marketing. You can do these things yourself, or even hire a professional. The most important thing is that you get results for your input. Note that this must be done smartly, as you do not just want to pour money into something that will end up a flop.
Since dropshipping does not require a direct purchase and resale of goods, you can start with little or even no capital. However, once you start scaling, you will need to invest in other aspects that will help you even do better with your business. I hope this helps you take that step to run your long-desired dropshipping business.
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This article was first published on 25th August 2021
chidiogo-akaelu
Chidiogo Shalom Akaelu holds a degree in English and Literary Studies, from the University of Nigeria. She is a freelance writer, editor and founder of Loana Press, a budding online publishing outlet.
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