If you have been searching or thinking about launching your business for quite a long time, you may have thought of Internet trading. For surety, you may be wondering how to start online store without inventory.
For this course, in this resource, we will weigh 3 better ways of launching online store without inventory (i.e buying products and keeping stock).
Nowadays, it is not compulsory to own something in order to be successful at all.
Now, the real question remains “How To Launch Online Store Without Inventory In 2021?” We have listed below the 3 better options to select from and they are:
- Affiliate store
- Digital products or services
- Dropshipping
More so, kindly note that It is possible to sell products online without stocking any inventory, and it will still be a fair business, and not a fraud. The main task is to select the right business model, as this decision could take you to the heights you’ve never dreamed of.
After few researches on how to launch online business without inventory, a lot of online entrepreneurs came up with their own ideas that aim at making your life much easier.
Lets compare them and find out those that will work for you.
Starting Online Store Without Inventory: Launching An Affiliate Store
This mode of selling products without keeping stock is very popular because of its simplicity. When it comes to affiliate marketing, you promote other entrepreneurs’ products and get your commission fee if the people you’ve reached out to actively or actually purchase these products.
A large number of renowned large-scale companies have their own affiliate programs. You can select the one that most favours you or participate in different programs to promote their goods on various resources.
Furthermore, You can also promote products through your blog, website, social media, or email list. For instance, with a user-oriented email marketing platform like Sender you can send up to 15,000 emails/month for free, enjoy the integrated email design builder, and count on 24/7 support which is certainly a dealbreaker for an ecommerce newbie with limited financial resources and no relevant background.
But, it is expected of you to take note of the rules before participating in any program because some of them prohibit the use of email marketing.
More so, the commission rates are decided by the companies offering the affiliate program.
The major constraint of this mode is the issue of Low Income. You could hardly make your living with it because of low fees, so it could be just a supporting source of passive income.
What To Sell Online Without Inventory: Digital Products Or Services
Right now, what other options do you have in mind if you think of how to start online store without inventory? You could start a business that is dedicated to the creation and selling of digital products or providing services.
There are many things to sell online with no inventory, they include:
- eBooks
- Software
- Music
- Videos
- Photos
- Courses and trainings etc.
However, first of all, you will need to acquire a digital product, after which, you can then offer it to your potential customers.
Starting Online Store Without Inventory: Dropshipping
A Typical dropshipping cycle involves or follows the following pattern:
A customer orders some products on your website — You send the order details to your wholesale supplier — The supplier ships the products directly to the customer.
Now you feel the difference? Absolutely! You don’t need to pay for the products until you have got an order. You also do not have to store the products neither do you have to send them anywhere. This shows that dropshipping is a true example of online business without inventory.
While making Use of the dropshipping model, anyone can create, run or launch or own an online shop without even holding any inventory or spending huge amount of money. If you run your dropshipping business with such giant as DROPAZZ, you can have additional profit from their cashback. And if all the processes in your dropshipping online store are automated with special tools, your chances to success increase many times!
Additionally, if you could find a supplier with very low prices for instance DROPAZZ by Degenius, this online business can be very profitable as you can set any margin you wish. Therefore, this model is perfect for those who want to have online business with a huge amount of sales, but do not want to spend money on buying inventory.
Extra Benefits Attached To Dropshipping Business Model
- Online Business Entrepreneurs can focus their efforts on marketing and customer service
- Your product range is not subject to or limited in quality and quantity
- You will never run out of stock or face surplus of undemanded goods
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In summary, you could obviously see that the dropshipping business model successfully competes with all the 2 other alternative ways of selling products online without inventory, and many more. To be sincere and to wrap up, with a fully customized self-owned dropshipping online shop or store, you are just unstoppable!
