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Dropshipping & Affiliate Marketing:
Dropshipping: Dropshipping is a business model where a store owner doesn’t keep inventory in stock. Instead, when a product is sold, the store owner purchases it from a third-party supplier and has it shipped directly to the customer. The store owner doesn’t handle the product physically. They earn a profit by marking up the product’s price.
Affiliate Marketing: Affiliate marketing involves promoting other people’s products or services and earning a commission for each sale or lead generated through your referral. Affiliate marketers don’t handle product fulfillment or customer service. They focus on driving traffic and conversions through their promotional efforts.
Benefits of Dropshipping
Low upfront costs
Dropshipping eliminates the need to invest in inventory upfront, reducing the initial financial burden for entrepreneurs.
Easy setup
Starting a dropshipping business is relatively simple and requires less technical knowledge compared to traditional retail models.
Wide product selection
Dropshipping allows access to a vast range of products, as store owners can partner with multiple suppliers and offer diverse options to customers.
Location flexibility
With dropshipping, you can operate your business from anywhere as long as you have an internet connection, providing freedom and flexibility.