Chances are, you haven’t heard of Ashin Awasthi. He is a 24-year-old millennial entrepreneur, who makes 18,000 US dollars a month from his eCommerce store, which he manages from the comfort of his home in New Delhi. His investment? Absolutely ZERO! Sounds too good to be true, isn’t it? But what if you are told that you will be provided step-by-step instructions so that you can also set up an online store without investment? Does that heighten your interest?
Not to worry, this is not some kind of a deceptively pleasing gimmick to draw your attention. You can rest assured that the information provided here is unquestionably authentic, and, there are, in fact, millions of people minting money on the internet with zero-investment eCommerce stores. As a young entrepreneur of this generation, you are lucky to be at a point in time that presents the golden opportunity to start an online business with practically no investment.
Thanks to the internet, never before in the history of mankind the barrier to entry has been so minimal, startup expenses so low, or the scope of revenue generation so vast and varied. So without wasting time, let us delve deeper into the four tried and trusted options that will enable you to set up an online store without investment.
The prime reasons why most people pull themselves back from setting up an eCommerce store are basically, order fulfillment hassles, and the huge startup costs that go into paying up-front money for the inventory.
However, the advent of dropshipping is dramatically transforming the business model, offering a level playing field for everyone to succeed in the booming eCommerce space. Now with dropshipping, it is easy breezy for anyone to set up an online store without investment.
What is Dropshipping?
Dropshipping is a supply chain management framework where an eCommerce store does not need to stock products that it sells. Instead, when an order comes in, the eCommerce store transfers the order and shipment details to a wholesaler or a manufacturer. That wholesaler/manufacturer then ships the product to the customer directly.
The process enables online sellers to buy items at a wholesale price. It also saves them the trouble of warehousing, packaging, and transporting the products. What’s more? Even though the manufacturer or the wholesaler is directly shipping the product, the online seller can use private labeling and customized invoices in the name of his online store to build a brand of his own.
Here are some compelling benefits of dropshipping that you might be interested in –
- Unlimited Products – Zero Investment: Dropshipping simplifies the complex process of eCommerce. It makes things incredibly easy for young entrepreneurs to set up an online store within hours. The retail fulfillment mechanism empowers you to offer hundreds of products to your customers, without the need to heavily invest in stocking inventory.
- Cutting-Edge Efficiency and Convenience: Dropshipping significantly frees up time for you to focus on critical aspects of business. Thus you can devote more time to monitor operations, marketing strategies, and customer service, without having to worry about order fulfillment.
- Enhanced Mobility: With fulfillment issues taken care of, you now have the freedom to operate your eCommerce business from any place that has access to an internet connection. How about earning while holidaying?
Remember Ashin Awasthi? He started his zero-investment eCommerce venture by making use of the dropshipping concept, and you can utilize the revolutionary retail fulfillment model as well, to set up an online store without investment. Take a tour of dropshipping solution providers like Aliexpress or Hothaat Marketplace to get started. But please note, dropshipping is just one facet of eCommerce. There are other crucial factors to consider in order to successfully launch and run an online retail store. Read on to know more.
Use Ready-To-Launch eCommerce Platforms to Set up an Online Store Without Investment
There are essentially two options to start an online store. The first way is a self-hosted eCommerce store, an option you should consider avoiding if you are a young entrepreneur planning to set up an online store without investment. The other recommended way is to use ready-to-launch platforms, which allow you to host an eCommerce store at a nominal price charged on a monthly basis.
When you start your online business on fully-loaded platforms such as Shopify, Volusion, or Ecwid, you won’t have to worry a thing. These platforms take care of technical and monetary aspects like buying a domain or employing a web designer to develop a visually-enticing online store. The fluid interface of these eCommerce architecture permits effortless customization of your store. Thus you can easily manage orders, shipping, and payments with a few clicks.
Furthermore, these sites feature content for standard web pages like ‘Terms and Conditions’ or ‘About Us’, which you can always put to use on your online store. Simply put, by utilizing ready-to-use eCommerce platforms, you can launch a responsive online store in minutes, without even knowing a word about programming or coding.
Set up Affiliate Programs for Instagram Micro-Influencers
Surely, you have an Instagram account, but if you still don’t have one, sign up on Instagram right now. Like most things in this post, it’s free! After registering on Instagram, leverage tools like BuzzSumo or Iconosquare to identify Instagram micro-influencers. The benefits of exploring micro-influencers on Instagram is that you can use them to promote products featured on your online store.
Send a message to the Instagram micro-influencers with a coupon code or discount, stating that you will pay a certain percentage as commission for sales that come through them. They are busy people, so try to keep the message short and sweet. Letting them know that you are ready to pay an affiliate fee, will be enough to make them work for you.
There are multiple studies and numerous real-life instances to prove that Instagram influencers can drive sales instantaneously. Leveraging the micro-influencers on Instagram is an excellent marketing strategy that Ashin Awasthi used to boost the sale of his eCommerce store.
Pick the Right Products and Suppliers
To set up an online store without investment, and to make it truly successful, you will have to load your eCommerce store with products that are in demand. The easiest way to find out what people are dying to buy is to check out the best-selling products on eBay, Amazon, or Flipkart. You can then look up Google Trends to keep an eye on how these items are performing.
Once you are done with the research, make sure your dropshipping marketplaces have these products in their inventory. Also, be sure to source products from suppliers who have good customer reviews and ratings. Finally, always opt for low-priced items. Products that do not cost much, sell quick and easy.
Here’s a recap of the strategies that are indispensable to set up an online store without investment –
- Consider Dropshipping
- Use Ready-To-Launch eCommerce Platforms to Set up an Online Store Without Investment
- Set up Affiliate Programs for Instagram Micro-Influencers
- Pick the Right Products and Suppliers
The tips and tricks presented here cannot guarantee that you will be the next Amazon hero! However the information can definitely help you to set up an online store without investment as a side-hustle.