DROPSHIPPING BUSINESS PLAN SAMPLE TEMPLATE
If you are fascinated by online commerce and would like to join, we are glad to tell you that you can. The best part is you do not need a physical inventory of products.
Despite the inherent opportunities, there needs to be a plan. Without one, it will only be a matter of time before your business hits the rocks.
We advise that you read along to learn what your plan should look like.
However, this is only a sample and should be treated as such.
Shopeasy.com is a dropshipping business with a difference. Essentially, we operate in partnership with multiple drop shipping companies. These have been carefully chosen due to their track records especially as regards customer service as well as how well they treat their partners. As an online business, we have the freedom to operate globally.
However, operating a drop shipping business means we need to choose a product niche(s).
We have researched products with the highest demand. This ensures that we can increase sales significantly.
Products and Services
Unlike most businesses, running a drop shipping business requires partnering with product suppliers. Hence because we don’t keep a physical inventory of products, we have entered into such partnerships with product suppliers.
Hence whenever our clients place orders, we contact our suppliers with such requests. At the end of such a transaction, a percentage of the sale is paid to us.
Shopeasy.com, we consider our dropshipping business as a first step in the right direction. Hence, there are bigger plans which we intend to unfold eventually. This involves establishing our very own online store.
Unlike drop shipping, this will involve keeping the physical inventory of products and goods. It will also involve significantly higher logistics. This is our medium-term goal which should be achievable within 6 years.
Our mission is to become known as a trusted partner and service provider. We have studied successful dropshipping businesses and have learned the secrets to their success. We will be replicating these as well as finding ways to better our operations.
Luckily for us, dropshipping is, one business that requires very little or no capital at all. Hence, one of the very few expenses to be incurred will be on data subscription. This has made our takeoff much easier as we do not need to apply for loans or sale of shares. While being one of several businesses without the need for financing, there’s so much potential for profitability. How profitable we become depends largely on the effort we put in.
In running a standard business, we aren’t shying away from responsibilities. Hence the need for self-evaluation. This is one way we can keep track of how efficient and effective our business model is. As such we have taken the step in finding out by inviting professionals to conduct a SWOT analysis. The findings are as shown below;
We are very passionate about what we do. Hence our commitment not only to running a successful business but also satisfying our clients and partners/suppliers. By setting our sights on our objective (transitioning into a full-fledged online store) we have ensured nothing distracts us. Our desire to learn will impact significantly our operations.
Running a drop shipping business comes with its challenges. We aren’t oblivious to this fact hence a glaring vulnerability. However since we are fired to learn on the job, we consider such weaknesses to be things we must overcome.
Opportunities inherent in a dropshipping business cannot be ignored. A major opportunity is a need for zero investment. Not many businesses will offer such opportunities. As a result, we are taking full advantage of such to build a strong brand.
Without adequately marketing a drop shipping business, there’s little we can do to stay afloat. Hence we aren’t leaving things to chance as we plan on facing such threats head-on.
A sale is an important aspect of drop shipping. The more sales are made, the more income generated. Thus, based on average earnings, we’ve designed three-year sales projections that show a steady climb. This shows so much potential as summarised below;
- First Financial Year. $300,000.00
- Second Financial Year $790,000.00
- Third Financial Year. $1,500,000.00
There are several drop shipping companies across the United States and beyond. Each offers different types of services. These are our competitors and can be formidable. However, we are equal to the task as we strategize on how best to play our role as a business.
Thus, a painstaking process was adopted in enhancing our quality of service. We are not only interested in knowing our customer preferences but also interested in identifying the weaknesses of our competitors.
A dropshipping business needs all the publicity it deserves. Given this, we are well-positioned to embark on an aggressive marketing drive. Our website is user friendly and easy to navigate through. This is to enhance our image as well as customer experience.
This drop shipping business plan sample has been written with you in mind. We have highlighted grey areas that continue to hinder entrepreneurs from doing a great job with their plans. We hope that by now, you’d have gained a better perspective of what should or shouldn’t be included.
In other words, putting together the right information necessary for smooth implementation.