How To Start A Dropshipping Business With No Money

If you want to make money online, you may be considering dropshipping. A successful dropshipping business can be very profitable. But, like any other venture, you need to invest time and money to get there. However, if you know what you’re doing, you can minimize the costs involved in starting a dropshipping business to almost zero.

That means you can start sourcing products and dropshipping using an online store with very little upfront investment. Since you’re not paying for products or shipping, your costs will be very low. And, once your store gains traction, you’ll be turning a profit with almost zero overhead.

In this article, we’ll talk about how dropshipping works and the pros and cons of this business model. We’ll also guide you through the basics of how to start a dropshipping business with no money. Let’s get to it!

An Introduction to Dropshipping

Dropshipping is an ecommerce business model where you act as a middleman between suppliers and buyers. Instead of holding onto stock, you set up an online store to process purchases for the supplier, and they ship the products directly to the final consumer.

The dropshipping market is massive, and is expected to reach a market size of $301 billion worldwide in 2024.

As a dropshipper, your experience will vary greatly depending on what products you sell, where you source them, how you vet suppliers, and where you choose to sell them. All of these factors can impact how your store operates and whether you can make money dropshipping or not.

The Pros and Cons of Dropshipping

Dropshipping can be a fantastic business model if you play your cards right. It’s possible to set up a dropshipping store and not spend money (or very little) if you know what tools to use and where to find suppliers.

When compared to a regular online store, dropshipping offers several benefits. These include:

• You don’t need to develop products and, in some cases, suppliers will also take care of branding for you.
• You don’t need to order and store products (which means no money spent on storage).
• It’s easier to scale your online business since you don’t have a physical footprint (as long as your supplier can handle the volume).

Essentially, dropshipping enables you to bypass a lot of the most difficult aspects of running an online business. However, any dropshipping journey is not without its challenges. Here are some of the limitations of the dropshipping business model:

• Not all suppliers offer the same quality of service (i.e. shipping, post-purchase support, and overall product quality).
• Profit margins can be low. This means you’ll need to either implement high markups or profit from volume.

Overall, it’s important to understand that while dropshipping is highly accessible, it’s also not an easy way to make money. You can definitely start dropshipping with no money (or on a very small budget). However, if you want your business to succeed, you’ll need to put a lot of time and effort into it.

How to Start a Dropshipping Business (4 Steps)

If you’re ready to get to work on launching a dropshipping store, there are a few basic steps you need to follow. We’ll now guide you through them – with an emphasis on spending as little money as possible.

Step 1: Register a Domain

Registering a domain is the very first step for any online business. That’s because you’ll need a domain name that visitors can use to reach your store and identify the company. This process is very straightforward, as you only have two choices to make.

First, you’ll need to choose your domain registrar. Then, you’ll have to find an available domain name that’s suitable for your dropshipping business. If you already have a name in mind, you can go right ahead and register it:

Keep in mind that while .com is one of the most popular Top-Level Domain (TLD) options, there are others to choose from. You can also use TLDs like .org or .net – or even .co.

Costs will vary depending on what domain registrar you use. SirsteveHQ offers some of the most competitive prices. So, it’s the ideal option if you’re starting an online business on a budget.

Once you find an available domain, add it to your cart and head straight to the checkout and registration page. It should only take a few minutes to fill out a few forms and process the payment before the domain is registered to you.

Step 2: Choose a Web Host and Set Up a Website

Next, you’ll need to choose a hosting provider and set up your ecommerce website.

If you want to spend as little money as possible, setting up an online storefront yourself is your best bet. Plus, it gives you full control over how to promote products, how to publish them, and how to process payments.

The ideal setup for an affordable dropshipping venture is using WordPress alongside WooCommerce. Both are free tools, which means you only need to pay for web hosting services.

Hosting can be surprisingly inexpensive if you use the right provider. SirsteveHQ offers WordPress plans that come with WooCommerce pre-installed, so you can start setting up a dropshipping business in record time.

These plans also include support for multiple stores, free Secure Sockets Layer (SSL) certificates, and daily backups, all of which are crucial for an ecommerce business. Even better, plans start at just ₦600 per month:

If you use this setup, you’ll want to start with installing an ecommerce-ready theme. Then, you can add products to the store and set up the payment methods you want to accept.

It’s also worth noting that a lot of dropshipping suppliers offer integrations with WooCommerce, which can help simplify your daily operations. (We’ll explore this more in the next section.)

Step 3: Source Your Dropshipping Products

Once your dropshipping website is set up, you’re ready to start sourcing your products.

Your choice of supplier will greatly depend on what products you want to sell. Fortunately, there are a lot of marketplaces dedicated to connecting manufacturers and dropshippers. Here are some popular options:

1. Spocket:This platform connects you with suppliers and enables you to order samples from them, which can keep initial costs down. Suppliers are geared mostly toward US and EU merchants.
2. AliExpress:You can find products here for incredibly low prices. The downside is that shipping times tend to be relatively long unless you work out direct deals with suppliers.
3. SaleHoo: This platform connects you with pre-vetted suppliers. It also offers a channel to communicate with them on-platform, and you can see what products are the most popular for each of them.

All of these marketplaces have the added benefit of offering integrations with WooCommerce. These integrations vary from marketplace to marketplace. But, typically, they offer tools to help you with inventory management and customer orders. For instance, you’ll likely be able to import products so you don’t have to add them manually to your store.

That said, before you make your choice, you might want to look at multiple supplier marketplaces, in case you find something that aligns better with your project. Remember to compare prices and reviews. And, if possible, opt for suppliers that have a strong reputation.

Step 4: Start Promoting Your Store

After you set up your WooCommerce store and start adding products from the supplier of your choice, it’s time to get to work on marketing strategies. This way, you can more effectively find (and convert) potential customers.

To cover all your bases, it’s a good idea to promote your store using the following tactics:

• Email marketing. One of your first moves should be to set up an email list. You can use this list to send marketing campaigns to subscribers and remind them of your store periodically. Make sure to customize emails to reflect your brand.
• Social media marketing. You can use paid ads, collaborate with influencers, and build a following for your brand that you can then convert into customers. Ideally, you’ll want to have a presence on multiple social media platforms.
• Content marketing. Many online businesses use content, like blog posts and videos, to help users find their stores. Fortunately, many WooCommerce themes include a blog page.

With dropshipping, marketing is likely where you’ll spend most of your time. Since your products won’t be original, this is where you can set yourself apart from the competition. Prioritizing excellent customer service is another good way to build a strong reputation and encourage customer loyalty.

Conclusion

If you plan on launching a dropshipping store, there are a few expenses you can’t avoid. You’ll need to register a domain and pay for hosting. But, these costs can be much lower than you’d expect. And, with the right ecommerce software, you won’t have to spend a dime on anything else.

If you use WordPress with WooCommerce, you’ll need almost no money to get started, as both tools are totally free. Here’s how to do it:

1. Register a domain with an affordable company like SirsteveHQ.
2. Choose a hosting provider and set up a website.
3. Source your dropshipping products from a compatible suppler.
4. Start promoting your store using email, social media, and content marketing.

Do you have any questions about how to start a dropshipping business with no money? Let’s talk about them in the comments section below!