How To Start Ecommerce Business Without Inventory – Are you wondering how to start an e-commerce business without inventory? That’s a big thing to think about these days! The e-commerce industry is booming and there has never been a better time to start an online business. But how can you do that, really?
Suman, our guest today, is exploring an interesting strategy for running an e-commerce store without inventory. How did he start it in the first place? Has it proven successful? And more importantly, how can you follow in his footsteps? Let’s talk!
- 1 How To Start Ecommerce Business Without Inventory
- 2 Marketplace Business Model Vs. Inventory Based Model
- 3 How To Sell Products Online Without Inventory (4 Methods)
- 4 Glide • Order Management Software: The 8 Best Order Management Tools For Ecommerce In 2023
How To Start Ecommerce Business Without Inventory
Hello, I am Suman Tuladhar! I am 41 years old, a Baltimore resident who loves the simple things in life like swimming and reading.
How To Start An Ecommerce Business In 2023
Half a year ago I became an e-commerce business owner. Even though I had a bachelor’s degree in Computer Science, I was new to the industry – I had never run an online store before!
The point is, I see an online business as a way to serve people in need and earn some passive income at the same time. My ultimate goal is to provide necessary products to consumers.
It’s a great mission – but how can you do it without any actual product in hand?
In June, I found a ready-to-go online store that was set up for me to start using right after the giveaway. This offer interested me because it is a professional online shopping website and I wanted a passive income stream from an online business that was easy to start.
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It’s essentially a fully functional online store that comes with personal instructions on how to use and manage it on a daily basis. And one of the best parts is that the inventory problem is also solved. The store sells auto parts directly from a warehouse in California, which means I don’t even have to buy or ship the goods myself. These products come from the Fulfillment Center: it handles shipping and makes sure the products look great on my website.
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In less than 6 months of owning my store, I made over $3,700 in revenue. What I’m especially proud of is the average order value – $77.46!
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How To Start An Online Store For Your Business (2023 Guide)
There are many promotional tools that I use to try to get the most out of each purchase.
For example, there’s the Abandoned Cart add-on that allows me to contact people who almost placed an order but then changed their mind. I send them an automated reminder email showing the items still in their cart and taking them back to where they left off. That’s how they come back to my store – check to see if anything new has appeared since their last visit – and fill their carts with more products than last time.
There is also the Landing Pages add-on which I use along with the Bulk Discounts add-on. Together, they allow me to create volume discounts: for example, a visitor can buy 1 product for $19 – or 3 of the same product for $39 (i.e. 13 USD per unit). Usually, people are happy to get a lower price, especially if it’s a product they can give as a gift (like a wallet or keychain) or something they want to repurchase when it’s out of stock (like a tool). car wash).
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Marketplace Business Model Vs. Inventory Based Model
I promote my store on social networks. More specifically, I use Facebook ads – I mean, I used them before, but then stopped paid ads. I haven’t run FB ads for more than a month but my sales are still there!
I think there are 2 reasons for this. First, I use the Social Rabbit plugin to regularly include posts in my feed. These aren’t ads and they don’t cost me anything, but they still keep my followers interested and show that the store is active. That’s why people remember me and come see what new I have for them.
And second, the number of people following me on Facebook continues to grow thanks to the products I sell. This may sound strange: I mean, how do you start an e-commerce business without inventory – but do you consider this inventory the key to all business success? your business? But as I see, people are coming back to buy because my store has really useful automated devices for everyday use. They like what they get and they’re looking for more and they’re subscribing to my site. That’s why I’m so grateful for providing me with such effective products.
How would you describe your experience to someone considering starting an ecommerce business without inventory?
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First of all, my customers love the 3-day shipping it offers. It’s another part of the great shopping experience they get at my store, and it’s another reason they buy from me again and again.
I previously considered other product sources such as AliExpress or Doba, but in the end I chose. What I like about it is the product variety – great selection of quality items, shipping terms – 1-3 days to anywhere in the US, and good return policy.
In my personal experience using it, I give it 5 stars for its quick response and quick and efficient order processing. I had no previous e-commerce experience but he made it easy – and I would be happy to do business with him.
What is the bottom line? The question of how to start an e-commerce business without inventory will never bother you again – everything is ready! A custom-designed online store with US-based in-stock items is all you need to start and grow your successful online business immediately – just like Suman did! We are grateful for his inspiring feedback and wish him to explore exciting new business horizons!
How To Sell Products Online Without Inventory (4 Methods)
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Try it for free and discover all the tools and services you need to start, run, and grow your business. Starting an online business can be a great way to make money doing something you love. But what if you don’t want or can’t stock physical products?
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Luckily, there are many ways to sell products online without inventory. In this article, we will discuss the four best methods.
So whether you want to start a healthy business or just make a little extra money on the side, these methods will help you get started!
Considering that there is no one-size-fits-all solution here, we decided to discuss the most popular methods and guide you to the best choice for you!
Maybe you’ve never heard of some of these, but you’ll definitely learn something new even if you have.
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If there’s one business model that most people immediately think of when someone mentions selling products online without inventory, it’s dropshipping.
Dropshipping is an e-commerce business model in which you sell products on your online store without any inventory. Instead, you rely on a dropshipping supplier to store the products you sell and ship them directly to your customers.
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Dropshipping suppliers can store and package your products and ship them directly to your customers’ doorsteps. Additionally, they send the product in empty packaging, which means your customers won’t know there’s a third party involved.
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There are even dropshipping apps like Spocket or DSers that are designed to automatically send new orders to your suppliers. This means your order fulfillment process is completely automated!
One of the main benefits of dropshipping is that you can start selling a variety of products online without having to invest in inventory.
And for this reason, dropshipping is a popular choice for those starting to sell products online. It’s simply a relatively low-risk, low-cost way to launch a new e-commerce business!
Overall, dropshipping is a great option for those looking for an easy way to start an ecommerce business.
Glide • Order Management Software: The 8 Best Order Management Tools For Ecommerce In 2023
Yes, in general, dropshipping has more disadvantages than advantages. However, there are always methods to address those blemishes and make them less noticeable! (You can learn more about these methods here.)
For example, by starting a private label dropshipping store, you can differentiate your products to set yourself apart from your competitors!
If you are interested in starting a dropshipping store, you may want to sign up for our free 7-day challenge.
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