Monthly Archives: October 2017

11 Tips New Entrepreneurs Must Know About Dropshipping

Retail eCommerce represents a $220 billion dollar market in the US alone. It’s growing by about 17% a year. The retail industry, of which dropshipping is a subset, is anticipated to reach over $350 billion by 2017 in the US alone. 22-33% of Internet retailers have already chosen shipping as their main method of order fulfillment.

 

Dropshipping can be defined as an eCommerce model, according to which a store doesn’t keep the products it sells. This means when selling a product, a store purchases items from a third-party vendor and has it shipped directly to the customer. This way, the store owner doesn’t see or handle the product.

 

Dropshipping businesses are classified as high risk. If you’re interested in opening a low-cost and secure merchant account for drop shipping, you should turn to a trustworthy high risk credit card processor to get the best for your business needs.

 

Tips to Grow Your Dropshipping Business

Below you can find 11 important points to focus on when starting your dropshipping business:

 

 

  • Niche

 

Have a specific niche for offering products. You can’t sell everything to everyone. Focus on what you’re passionate about and the top trends in the industry. You can narrow down your niche through the evaluation and analysis of the market, competition, and demand.

 

 

  •  Competition

 

Look at your competitors, analyze them, and learn from them. Your future product ideas, positioning, branding, and pricing should be based on such analyses.

 

 

  • Supplier

 

According to 84% of online sellers, establishing a dropship supplier or wholesaler relationship is the main hindrance associated with starting an online business. Your supplier should be reliable and trustworthy. Look for reviews, compare their product prices, and guarantees.

 

 

  • Website

 

Your website should be correctly optimized for the user and SEO. Product descriptions should be of high quality and error free. Don’t forget about high-quality product photos, as well as clear shipping and returns policies. Your site and/or checkout should have trust badges.

 

 

  • Traffic

 

Build excellent marketing strategies. Advertise professionally. Use offers and promotions. Google AdWords, Google PLA (Product Listing Ads), Facebook Ads, retargeting, email offers to past customers, and niche blogs can be of great help.

 

 

  • Business Registration

 

Your business should be formed and registered with the proper government agencies. Be aware, most suppliers will require an EIN (Employer Identification Number) and Sales Tax Exemption Permit.

 

 

  • Dropship Agreement with Suppliers

 

Call and email all the suppliers on the list you’ve compiled from your competitors. Decide on launch dates and determine firm timelines. Figure out whether you’re going to pay upfront or on terms.

 

 

  • Calculations

 

Take into account the numbers:

  • Sales Revenue – Cost of Goods = Gross Profit
  • (Gross Profit – Expenses)/Revenue = Profit Margin

 

 

  • Customer Service

 

Value and respect your customers. Be responsible and focus on your customers’ wants and needs so that to boost customer satisfaction.

 

 

  • Returns

 

If you want to receive returns yourself, you’ll be able to offer better customer service. The downside is associated with the logistics of receiving, storing and then reselling returned items.

 

 

  • Automation

 

Your dropshipping business should be automated as much as possible. This can be done through AdWords automation, inventory management automation, and social media automation.

 

Up to a third of online retailers, including those on Amazon and eBay, have switched to dropshipping simply because it enables them to avoid a lot of headaches associated with stocking, packaging, and shipping. With the right product, supplier, payment processor, as well as marketing strategies, you can grow your dropshipping business successfully.

 

Author Bio: Electronic payments expert, Blair Thomas, co-founded eMerchantBroker in 2010. His passions include writing/producing music, and travel. eMerchantBroker is America’s No. 1 drop shipping merchant account company, serving both traditional and high-risk merchants.

Right Time To Design A Website For Any Business

This is the right time for business owners to develop their website. The reason is before some year’s internet is not famous and people used only for sending emails and reading the mails and using for the personal benefits. Now every shopping is done through the webpage and young and old are using only mobile phone for all their needs. They are comfortable with the mobile use. Even normal person is also opening a website for use and friends use. For business if anyone does his website it is sure he is going to earn a lot of money through the website people are quite happy with the LinkHelpers Scottsdale Web Design because this company is not only creating the website they are doing all the works for the website. A website needed to be on top of the search engines. It is not so easy to take place on the top search engines. It has heavy work behind to stay first on the search engines. The web page should be light load on the front page, and the web page should be on the user friendly. By this way the website could be accessed by anyone in the world. The light weight should have to be maintained forever to study in the search engines. The blog should have to be made for the website and the blog should have to be updated every day or once a week based on the content of the website.

The website should have enough space to make order and there should be enough space for the owner to respond the orders. The website should have to be tuned well to view all the way. The website should be visible to see even in negative areas. However the owner can inform where he needs the web page to be viewed and where all it is not necessary to view the site. Based on this the web site can be tuned to see the web site for ordering the product or service. a product can be sold even for the public, a product sold to the business this is b to b and the first case is open to all. Owner can have the discussion with the above company and place the order for his website based on the needs. In such a case there would be demand for the product and the owner would be able to get good lot of money through his website.

The Do’s and Don’ts of Home Equity Loans

With home values growing, homeowners who have equity, valuable facilities, might be enticed to extract some of that wealth and use it for other tasks. But relying on your private situation and how you’d like to utilise the equity, it may not surely be the correct thing to do. Here’s when a home equity loan, which let you to use the equity of your home as security, makes sense — and when it doesn’t.

Don’t: Fund a Way of Living: Remember a decade ago when homeowners pulled cash out of their homes as if they were unlimited piggy banks to fund wealthy way of living they couldn’t surely pay for? These thoughtless borrowers, with their boats, fancy cars, sumptuous vacations, and other costly items, paid the price when the housing bring down to earth. Property worth hurled oneself, and they lost their homes.

Pay for Principal Expenses: This is an easy task, but it’s always value dwelling on, common expenses like groceries, clothing, utilities, and phone bills should be a part of your household budget. If your budget doesn’t cover these and you’re thinking of lending money to bear them, it’s time to redo your budget and curtail some of the surplus.

Do: Make Home Betterments: The secured use of home equity funds is for home betterment that will put to the home’s worth. If you have an erstwhile project then a home equity loan might make a hit. Require access to money over a period of time to fund current home betterment projects? Then a home equity line of credit would make more sense. Home equity line of credit allows you pay as you go, and generally has a varying rate that’s tied up to the primary rate, added or minus some percentage.

Reinforced debt: Reinforcing numerous balances, counting your high-interest credit card debts, will make an apt sense when you run the numbers who doesn’t need to secure possibly thousands of dollars in interest? Debt reinforcement will make easier your life, too, but be cautious: It only works if you have branch of knowledge. If you don’t, you’ll possibly run all your balances assistance again, and wind up in even adverse shape.

Homeowners who require cash to pay tuition for a child’s college education, for example or to fund a severe recasting may be convinced to glance at their home as a piggy bank. Home equity loans, which is lend against a home’s worth, are one way to come out with the money. Mortgage and refinancing professionals like them because they’re often half as costly as higher-rate forms of debt such as credit cards, and because users are frequently extracting an asset they have already put major funds into. Home equity loans aren’t always the best choice, though, and can get costly if managed inaccurately. Tribecca will give you with better direction, so try your luck once and we assure you that will never let you down.