In Today’s Article at Myonlineca, We will tell you about How to Start Dropshipping Business in India. Dropshipping is a form of a retail method where you don’t keep products in stock as inventory. Instead, what you do is you come under a contract or agreement with a wholesale supplier that stocks its own inventory and you have to transfer customer orders and shipment details to them and they will ship the Products directly to the customer that have placed an order with you.
The biggest difference between Dropshipping and the standard retail model is that drop shipping merchants do not always catalog their own inventory or stock, but buyers buy that product from the third party to fulfill orders given by the merchant consignee and direct customer Transmits. Most Dropshipping merchants buy the product directly from the wholesaler or manufacturer.
Benefits of Dropshipping Business In India
Low Capital is Required for Dropshipping Business In India
The biggest advantage of Dropshipping Business In India is that it is possible to launch e-commerce store without having to buy inventory by putting millions of rupees to start it. Usually, retailers have to buy a large quantity of product so that they can make the product available to the customer from their stock on the customer’s order.
But in drop shipping, you do not need to buy a product unless you have sold the same to the customer. After the product order is made by the customer after the product’s money comes to you, you purchase the ordered product from the third party and then reach the customer, thus it is possible to start a successful dropshipping business with very little money.
Easy to get Start
When you do not get confused with physical product, it is easier for you to run an e-commerce business. In Dropshipping, you do not need to worry about some of the following things-
- To maintain a warehouse to keep the product,
- Packing and shipping the product,
- Check product order and stock inventory level, etc.
As long as you are in touch with your customers and suppliers, you can also run from your e-commerce business.
Wide Selection of product
Since you do not have to buy any product in advance, you can make multiple products available to the customer.
How to Start Dropshipping Business in India
When you start any business anywhere in the world is always advisable that you should have full knowledge of the industry like how the industry works, you should be aware of the cost that incurs in running that particular Business, Legal formalities that surround the business, who are your competitors, technological aspects of the business, material aspect of the business and you should be aware of your capabilities in running that business.
So same is for Dropshipping business in India, You need to have full knowledge regarding this subject matter before you get involved with this type of business.
Now, when you are done with the research about Dropshipping Business in India, you need to make a Business Plan and in that you need to mention things like place of business, business entity, name of all the people that will be associated with the business, investment in terms of money, marketing strategies etc.
After you have created the Business Plan, First you need to get Business Registration, you can get business registration by choosing a Business entity like LLP, Partnership, Private Limited Company, OPC etc and Make An Application to Ministry of Corporate Affairs or You can also get a Business Registration Under MSME to commence your business and also you need to get Shop Act License from the Respective state authority and when you are in Dropshipping business in India it is must for you to get A Gst Registration for Service Providers In India.
The Process of Business Registration will take some time to be Completed fully in the meantime you should secure funding for your business, Nowadays you can get funding for your Business through Banks, Financial Institution, Gold Loan and Through Venture Capitalist. Also, You should note that when you get MSME Registration, you should apply for the mudra loan under which you will get a Mudra Card, that You can use to get a loan for the operation of the Business or to meet any other Financial requirement of the business.
Once You have dealt with everything I have mentioned Above, It will be time for you to commence the Business Operations.For this, you should approach the E-commerce seller or you can create a website or list yourself as a Dropshipper in directory websites.
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