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Become a Drop Shipping Entrepreneur! Learn the Desi Way

How to Start Dropshipping Business in India

How to Start Dropshipping Business in India for Beginners Photo by Ravi Sharma on Unsplash Let me introduce to you the idea of drop-shipping, the desi way. In this blog, I will talk about a business model that you can try out in India with practically zero investment. This is not the usual “sourcing your product from China and selling it on Amazon” business model. So read on, and I will show you a couple of examples as well. Identifying the products that you want to drop ship is the first step. With extensive research on the products you want to sell, you can get started with your drop shipping business. Today there are different tools and platforms which fall under the category of product research tools or supplier discovery tools. These platforms help you identify what products are trending locally, the consumer behaviour, profitability, and sales potential and come with even more features that help you launch your drop shipping business. Most of these tools are paid, but you can get started by researching local Indian marketplaces, on social media platforms or Google Trends. Let us look at an example of how to start drop shipping with little to no money the desi way. Drop ship school supplies and make a profit! The back-to-school season in India is a good opportunity for drop shippers. It is this time of the year when every parent wants to gather school supplies like school bags, notebooks, lunchboxes, and other school essentials. By understanding this seasonal trend, you can target your drop shipping business to cater to this specific audience. So how do you start? Look for the products that people are talking about on platforms like Pinterest, Facebook and Instagram. Check out marketplaces such as Flipkart, Meesho or Snapdeal to understand the gaps in the market and identify your product. Next up is sourcing the product. In this case, I would check out Meesho for stationery and school supplies where I can get it at a reasonable price. You can also check sellerapp.com or junglescout.com websites, these platforms give you sales data from Shopify and Amazon online stores and help you identify the right trending products for your store. Look for trending back-to-school supplies that are popular in your area. Building your online store is the next step. Create a brand and set it up on Shopify. Target working parents through Facebook or Instagram ads. You can start with Facebook ads, as it is one of the most affordable advertising options for Indian businesses. Make sure your ad copies resonate with working parents who prioritise convenience or appreciate colourful school supplies for their kids. Now, how do you act as a middleman in this business? Let me just break down for you how the orders work: When a customer places an order on your online store, you head over to Meesho (in this example) and purchase the same product. Provide the customer’s shipping information on Meesho. Forward the order details to the customer and Meesho completes the order. The difference between the products’ price on your store and the actual price of the product on Meesho is your profit. Considerations (Challenges) Efforts/Growth Investment Free or paid website builders, paid advertisement cost on social media, eCommerce platforms like Shopify and payment gateway integration Risk level Moderate Profit margin 15% – 30% Scaling the business Widen your product range, build brand awareness, sourcing new suppliers Legal and Regulatory Register your business and get GST registration Marketing and sales Facebook ads, search optimise your website, especially for mobile users Customer service Timely communication is important for order updates, returns and refunds Building a team Optional. Consider as you scale your business Product selection Consider products with unique selling potential Pricing Offer competitive pricing Another example is the monsoon season in India which opens the opportunity for drop shipping rain gear which solves the common problems during monsoon. The festive season in India and weddings also offer a goldmine of opportunity for drop shippers. Ideally, you are creating a brand that addresses the pain points of a consumer here. Understanding the preferences of your target audience is key to thriving in the desi drop shipping market. Disclaimer: The information contained in this blog, is intended for general informational purposes only and does not constitute professional advice. Always consult with a qualified professional before making any business decisions based on the information you find on this blog.

Recession Proof Businesses in India – Top 7 Picks

Recession Proof Business in India

Recession Proof Business in India – Top 7 Picks​ The Growth File February 22, 2024 Conception, Small Business India’s economy had major problems during the COVID-19 pandemic, much like every other economy. This caused hiccups in several sectors, contributing to negative GDP growth rates. Nevertheless, in the wake of the recession, India demonstrated resiliency and recovery despite these challenges. Information technology (IT), manufacturing, finance, pharmaceuticals, transportation, food processing, and agriculture were some of the main industries that supported India’s economic comeback. During times like these, Indian businesses began looking into avenues to strengthen their resilience and deal with economic uncertainty. Keeping this in mind, let us try to understand what recession proof businesses are and look at some examples as well. Healthcare companies Businesses in the healthcare sector tend to be resilient to economic recessions. Factors such as their inelastic demand, support from the government, and evolving healthcare needs all contribute to their longevity. Technological advancements have an important role in strengthening the resilience of healthcare businesses by increasing efficiency, service capabilities, and accessibility. Financial services Banking, insurance, investment management, mutual funds, and wealth advising are some of the many financial services. The need for basic financial services never really changes, no matter how the economy does. This is because individuals as well as businesses need financial services. Financial services companies typically have a variety of revenue sources from different products and markets. Innovation and technological breakthroughs have completely changed the financial services industry, opening up new markets and increasing productivity for businesses. Auto repair and maintenance What makes auto/vehicle repair shops recession-proof? It all comes down to the essential nature of auto repair services. Vehicles are essential for everyday life and commercial activities, and auto repair services are thought to be essential for keeping vehicles well-maintained and functional. Apart from basic repairs, a lot of auto repair businesses also provide maintenance, diagnostics, and specialised services like tyre replacement and alignments. Logistics companies Logistics companies are recession-proof due to their essential role in supply chain management and adaptability to changing market conditions. It facilitates the flow of goods and materials from manufacturers to consumers. As intermediary businesses, they guarantee prompt and effective product distribution regardless of economic conditions. The growth of e-commerce and online shopping has substantially boosted the resilience of logistics companies. Food and beverage industry People must eat and drink to survive, regardless of their financial situation. The industry is kept fairly immune from changes in the economy by the continuous demand for food and beverages. Another factor is the diversification of offerings, where businesses offer a diverse range of food and beverage products to suit varying consumer preferences and budgets. There will always be a market for food and beverages because of the rising desire in recent years for sustainable, organic, and healthier food options. Online teaching The fact that online education meets the rising need for education is one of the main factors making it recession-proof. Online teaching is a convenient and cost-effective solution. To remain competitive in the job market, people look for ways to enhance their knowledge, abilities, and qualifications. It is accessible and affordable, as well as adaptable to shifting learning trends, making it an appealing option for learners all around the world. Marketing services Marketing is one area that constantly proves to be recession-proof. Marketing services are essential to the growth and development of any business. From digital marketing to traditional advertising, the demand for effective promotion is unwavering. Companies are aware that, even in recessionary times, well-designed marketing initiatives can deliver measurable outcomes. With the help of digital marketing, companies can develop highly focused campaigns that appeal to particular consumer segments. Final Thoughts Offering essential goods or services, keeping different kinds of revenue streams, and meeting inelastic demand are the traits of recession-proof businesses. Businesses that swiftly embraced digitization and creative approaches prospered during the COVID-19 pandemic. Healthcare and education technology (EdTech) have demonstrated exceptional resilience amid growing digitalisation, making them recession proof. The e-commerce industry had exponential growth, with a notable increase in online retail sales. Join hundreds of happy subscribers! Subscribe You have been successfully Subscribed! Ops! Something went wrong, please try again. Disclaimer: The information contained in this blog, The Growth File, is intended for general informational purposes only and does not constitute professional advice. Always consult with a qualified professional before making any business decisions based on the information you find on this blog.