Artem Zmitrovich
From time to time, many people consider taking on a side hustle. I’m sure you wouldn’t refuse additional income, would you? There are many options available, but a dropshipping side hustle is one of the most lucrative in terms of the effort-to-profit ratio.
Why Do Dropshipping As A Side Hustle?
Aside from the human cost of the pandemic, many people are feeling the pinch economically. While certain countries have offered support packages to those who have lost work, other states, for a myriad of reasons, have not done so.
People lack financial support; even those on furlough with lower pay are turning to a ‘side hustle’ to make ends meet. It isn’t a great situation to find oneself in. However, in terms of opportunity, the dramatic up-in-the-air moment we inhabit right now is one that is apt for reshaping your work-life balance.
Many people who have found themselves in a challenging situation during lockdown had to take small businesses online and have turned to online work, such as working for an essay writing service, completing surveys, and even customer support. None of these options, however, have the potential for growth and profit like dropshipping.
For those who are unaware of what is dropshipping, here’s a brief reminder. You source a product from a third party in your eCommerce shop, then a customer orders the product in your shop, and you purchase it from your supplier, who ships it to your buyer. The product arrives at their door, and you receive money in your account.
You own the website or a selling account on a marketplace, connection to the supplier, winning products, and the customer’s information. Basically, you connect buyers with suppliers. Fin.
Some may wonder: “this all seems great, too good even; in fact, is dropshipping legal?”. The answer is yes – eCommerce dropshipping itself is legal. You must, however, pay attention to international laws and taxation strategies.
But is a dropshipping side hustle a good additional income? Here follows our list of reasons why dropshipping deserves your consideration post-lockdown.
Dropshipping Side Hustle Benefits
Dropshipping can be a great side hustle for a variety of reasons. Here are some of the main benefits:
1. Remote Work
Staying away from the office has led to a change in perspective on what we want from work. Those who have found themselves working from home are not homogenous entities. Some people are desperate for a return to the workplace. Zoom calls don’t cut it for this segment of society.
And that’s a fair comment. We know that loneliness and isolation are bad for our health. Being around a diverse array of characters and colleagues is what makes life interesting. However, dropshipping fits very nicely into the pattern if you are one of the not-insignificant ones who prefer this flexible way of working.
With the pandemic receding into the annals of history, the option for remote work takes on a new meaning. It means being able to see the world while working with a computer. Many readers will likely have come across Tim Ferris’ Four-Hour Work Week. We anticipate a rush to this kind of philosophy once people come out of the other side of the pandemic.
2. Low Overheads
After the initial outlay, dropshipping became a business model that inherently operates with low overheads. Unlike a physical store, you hold no stock or inventory; your dropshipping suppliers handle that side of the business. The touch of modern competitors is far more than a dropshipping company. Touch refers to how much ‘human’ is in the whole process. A dropshipping side hustle is low-touch and high-tech. Low touch means fewer workers to pay, which contributes to lower overheads.
3. It’s A Quick-Scaling Business
Increased online shopping throughout lockdown was trending since shopping was already moving online pre-pandemic.
With online retail booming more than ever, a dropshipping side hustle is a fantastic money-making opportunity for an astute individual. Dropshipping on eBay or Shopify, selling on Facebook, and the growing number of novel supply chains are ripe for the picking. All it requires is the initial outlay, which you can learn about in this video.
Once you start getting traction with your various marketing strategies, it is easy to grow in a rapid fashion. You are exploring new niches, keeping your finger on the pulse of the modern consumer. The growth potential is generally positive, with multiple avenues available for exploration.
4. An Excellent Addition To Your CV
As well as the financial benefits, starting a dropshipping side hustle is an excellent point to add to your resume outline to stand out from the crowd should you wish to hold down a full-time job.
Some jobs have been lost forever in this pandemic, and employers are always keen to hire a candidate who hasn’t stood still. Not only will you develop business acumen but a host of desirable and monetizable eCommerce skills.
SEO research, profiling, web design, knowledge of GDPR and privacy laws, working with international suppliers, and making a juicy profit. All these things prick the ears of employers looking for new talent.
Start Dropshipping Side Hustle Today!
Dropshipping can be a great side hustle with low overhead costs, flexibility, and the potential for scalability. However, it is essential to do your dropshipping research and choose a reputable supplier to work with. Also, carefully manage your customer service and marketing efforts to ensure the success of your business.
If you’d like to know more about getting started with dropshipping, Dropship Academy is a free resource with breadth and depth. If you want to know how to start dropshipping, take a look around and immerse yourself.
About the Author:
Amanda Dudley is a lecturer and writer. She received a Ph.D. in History at Stanford and has remained in academia since then. She holds lectures on American and World History and offers her assistance as an academic specialist at EssayUSA. Her other skills include pedagogy for disabled students and improving her current intermediate German.
