Check out the latest episode of #allaboutbusiness the podcast on hvspn.com. We explain what dropshipping is, how it works, how to get started in it, and we hear from a student guest who has experience in drop-shipping.
You are listening to All About Business, the podcast with your host(s) Prithvi.
In this episode of All About Business the Podcast we discuss: what dropshipping is, how it works, the benefits and risks of dropshipping, and we will be hearing from a guest who has had experience in the field of drop shipping.
Segment 1: What is dropshipping?
In this segment I will be explaining what dropshipping is and how it works.
Dropshipping is an order fulfillment method where a store doesn’t keep the products it sells in stock. Instead it purchases the products from a third party supplier and ships/sells it to customers.
A business or store will first receive orders for products from consumers and then will ask the dropshipper to fulfill these orders. The dropshipper will then sell the products to the store who will then ship the products to consumers.
This way businesses don’t have to worry about having products that aren’t selling or having excess stock.
Drop Shipper: A drop shipper is a manufacturer or supplier who manages inventory for a retail merchant and ships orders to their customers. Being a drop shipper can bring in high profits for a really low launch cost. It also has low barriers for entry, further increasing the ease of entry into the industry.
Drop Shipping is a great way to make money early on and quickly because of how easy it is to get started, but although there are many benefits there are also a few risks involved. Let's hear more about them in the next segment.
Segment 2: Benefits and Risks of Dropshipping
In this segment I will be talking about the benefits and risks of dropshipping.
It’s easier to startup and launch
Does not require a specific location or office
Simpler to manage
Slim profit margins
Dropshipping can complicate order processing
Although dropshipping has both pros and cons, its benefits definitely outweigh its disadvantages. It’s a great way to make money quickly and with ease, while also learning about business and gaining more experience in it. In our next segment we will be hearing from a student who has experience in drop shipping so let's head onto our final segment.
Segment 3: Experienced in Drop Shipping
In this segment me and my guest star Paul McGrail(Paul says hi) will be discussing his experiences with dropshipping.
How did you find out about drop shipping?
How did you get into or start out in drop shipping?
Was it a good idea and is it still a good idea to drop ship?
Are you a drop shipper?
Do you still drop ship?
What do you drop ship?
Do you plan on continuing to drop ship?
Thank you Paul for your great information and advice on drop shipping. I hope you would consider coming back on another later episode, and thank you to our listeners for tuning in on this episode of All About Business. Please share this podcast with anyone you know and tune in next time, bye.