Check out the latest episode of #allaboutbusiness the podcast on hvspn.com. We explain what dropshipping is, how it works, how to get started in it, and we hear from a student guest who has experience in drop-shipping.

You are listening to All About Business, the podcast with your host(s) Prithvi.

In this episode of All About Business the Podcast we discuss: what dropshipping is, how it works, the benefits and risks of dropshipping, and we will be hearing from a guest who has had experience in the field of drop shipping.

In this segment I will be explaining what dropshipping is and how it works.

• Dropshipping is an order fulfillment method where a store doesn’t keep the products it sells in stock. Instead it purchases the products from a third party supplier and ships/sells it to customers.
• A business or store will first receive orders for products from consumers and then will ask the dropshipper to fulfill these orders. The dropshipper will then sell the products to the store who will then ship the products to consumers.  
• This way businesses don’t have to worry about having products that aren’t selling or having excess stock.
• Drop Shipper: A drop shipper is a manufacturer or supplier who manages inventory for a retail merchant and ships orders to their customers. Being a drop shipper can bring in high profits for a really low launch cost. It also has low barriers for entry, further increasing the ease of entry into the industry.
• Drop Shipping is a great way to make money early on and quickly because of how easy it is to get started, but although there are many benefits there are also a few risks involved. Let's hear more about them in the next segment.  

In this segment I will be talking about the benefits and risks of dropshipping.

Benefits:

• It’s easier to startup and launch
• It’s scalable
• Does not require a specific location or office
• It’s flexible
• Simpler to manage

Risks/Challenges:

• Slim profit margins
• Dropshipping can complicate order processing

Although dropshipping has both pros and cons, its benefits definitely outweigh its disadvantages. It’s a great way to make money quickly and with ease, while also learning about business and gaining more experience in it. In our next segment we will be hearing...