*Types of online business (Drop shipping)*
Drop shipping is a retail fulfillment method in which a seller does not keep the products it sells in stock.
A drop-shipper sells a product, it purchases directly from a third party (a manufacturer, wholesaler, or another retailer) to a buyer that is they ships the product directly to a customer. A drop shipper is a link between a manufacturer, a wholesaler and the buyers. it's is done in such a way that the retailer does not necessarily have to know who the manufacturer or
wholesaler is.
*Advantages of Drop shipping*
*The startup capital is small
*You can offer items almost instantly because you already have a network of links and sellers
*You can offer a wider range of products since you don't necessarily have to stock the goods. All you need is the sellers contact number and ensure you get credible and efficient sellers
*It saves time
*Disadvantage of Drop shipping*
*Not having all of the product information is problematic. There are time customers will call back that the product is not what they anticipated,
*It has low quality control
*Customer service issues like wrong delivery, inaccurate description damaged items. You must try as much as possible to avoid it
*competitions from other drop shippers
*Stock Shortages. Sudden stock shortages are one of the most common problems with drop shippers
*High shipping cost
*Low profit margin
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