Step 1. First of all, it is recommended to have an LLC or Corporation tax structure, just because it is very beneficial and will help you to protect your assets from liabilities with your dropshipping business.
Step 2. The next step is to pick a niche. It is said that when you sell someone`s products instead of building your own brand, every good niche has 2 main components. These components are essential for your success when trying to figure out how to make money online:
- You want a niche with at least 10 million people internationally.
- Ideally, you also want your audience to be somewhat passion-charged. The lowest-hanging fruit in eCommerce/dropshipping is impulse buys, so the more excited they get over the items in your store, the better.
Step 3 is audience research. You may use even Facebook to find the most popular products for dropshipping. For analyzing FB audience it’s recommended to use this tool. There`s a lot of useful information! When analyzing the audience, narrow the region and start to type in popular Facebook pages in the targeted niche, in the “interests” field on the left side.