Is Dropshipping an Easy Side Hustle in 2024? Almost everybody loves to make money. It is no more a choice rather it is the demand of the present times because one primary job is not enough to fulfill daily life expenses. Extra money other than the main income could either be made by doing a side hustle or by investing in a business and receiving passive income.
Nowadays, there are a lot of considerable ways to earn money as a side hustle, one of the popular and easy ways is dropshipping.
It is actually selling the products online without making a physical store. Customers make an online order which is directly forwarded to the manufacturer or supplier of the product and then they directly deliver it to the customer.
Generally, it is perceived that it is an easy business but like any other work, it needs dedication and wholeheartedness. Let’s ponder light upon some aspects of carrying this business as a side hustle.
Low Initial Investment
If compared to other traditional ways of doing business, it requires less capital because there is no need for a physical store or outlet. Products are displayed on the online store or page with clarity and all the details. This leaves plenty of room for profit-making.
However, it does require money and time to be spent on making the website/online page, quite appealing and complete in all aspects. It can also take a long time to become successful by choosing this means of earning money.
Competition
Right now, it is the booming period of the e-commerce industry, where every person is doing online shopping as there are many online stores, selling every kind of product so competition is increasing.
In such a competitive environment, it is needed to work with commitment and hard work to gain customers.
Otherwise, customers will choose where they will find excellence and quality along with uniqueness. Quite opposite to the traditional ways of doing business, it needs more attention, time and continuous effort with smartness for executing business skills through an online platform.
Flexibility
Another advantage of dropshipping is the ease of dealing with customer’s orders and problems online, without being physically restricted at a location. It only needs a mobile device with a good internet connection.
Like pros, dropshipping has cons as well that one must consider in a realistic way before starting it as a side hustle. It is not an effortless and quick path to wealth rather there are some challenges associated with it.
Conclusion
To sum up, dropshipping can be an easy and convenient business if it is not taken as a primary source of making money but could be made a side hustle. With low upfront cost, flexible ways of carrying business and fewer entry barriers, it is an easy-to-start business.
To take it to the next level and make it your full-time earning source, it must be your passion and align with your interests. However, making a sound and secure position in the market with lots of other competitors is not a piece of cake as all the other challenges.
Frequently Asked Questions (FAQs)
1: How does Dropshipping actually work?
Dropshipping follows a business model where a customer places the order and the vendor forwards that order to a third party, who then supplies the product directly to the customer. The vendor does not need to worry about storing the inventory but he should be well aware of marketing tactics, advertising strategies and dealing with the customer.
1: What product should be chosen for this business?
There is a vast variety of products that could be selected in this business like kitchen products, baby products, home decor items, jewelry and watches, car accessories, electronic devices etc.
3: Do I need the experience to start dropshipping?
It does not require any prior experience to start dropshipping however one must have an understanding of how to operate the online store.
4: How much time does it require as a side hustle?
It depends on the product and the person managing the business, the product might be customized or manufactured, other factors like managing the online store, marketing and advertising depend on the person’s efficiency and marketing skills.
5: What are the challenges linked to dropshipping?
The success path is long with not-so-high profits because the market has already enough competitors. Moreover, finding reliable suppliers is another challenge.
