Ok.. let's see what we can do with 500$?
Heard about the crazy trending Drop shipping Method?
No?
OK Great! :)
Now:
You can keep reading further!
Dropshipping as the term aka Definition:
The idea of selling stuffs without having to keep anything in-house (in your warehouse) or buying is termed as Dropshipping..
Still confused?
It’s a method or a business strategy where you would setup your eCommerce website with all the product that product that you want to sell aka Dropship without having to purchase.
Still confused?
Let’s take a look further in a Step by Step process..
Step One:
Identify your niche. Pick a niche that you want to promote or you want to sell. For example, Android and iPhone Mobile cases.
Now:
Head over to Alibaba.com and look for all the possible vendors.
Make a list of excel sheet with all the Vendor Name, URL, Products, Images and Prices.
Make sure to stay organized right from the beginning.
Pro Tip: Make a list of roughly 30–50 Products (Give your potential clients several options)
Now:
Once Step One is completed..it’s time for Step Two
Total Cost so Far: 0
Step Two:
Purchase your own domain.
https://qph.fs.quoracdn.net/main-qim...58d8bac6b77924
Once done..
Time for Step Three..
Now..the fun begins..
Total Cost so Far: 12$
(If your budget permits then get the .in .org .net and co.in extensions too)
Step Three:
Head over to
Shopify
and sign up for the 30 days of free service.
Make sure to use the 30 days to your advantage because you can save the money and invest into marketing platforms which I will discuss in sometime..
Now:
Upload all the products, URL, prices and images on your store. Shopify is extremely easy to get going with initially.
To upload 50 products, it will take you roughly around 4-5 hours.
If you are technically sound and need my help then feel free to Grab the FREE eBook and Online Training that over thousands of people have used to launch their Online Business for the initial help.
Total time spent so far: One-Two days max on the research, and setting up your store.
Now it's time to get some logo and other parts of the branding. You can head over to
Fiverr
and get a cheap logo done for $5..
Total Spent so far: 20$
Now, I have saved you a total sum of 480$ :)
I am sure, no one can give you a better business model!
Once you have your eCommerce store up and running, use that 480$ on Facebook Ads, Google Adwords etc.
Make sure to calculate your total spending and profits.
If a product is costing you $2 and if you are selling the same product for $10 then your net profit is $8..
In order to remain profitable, your cost of acquisition per customer shouldn't be more than $8 in your first month.
..but since the question was specially asked towards setting up a business for less than 500$
I have given you a business model where you can start your business with just 20$ (First Month)… and in a maximum of two days..
