5 Tips For Starting an Online StoreOctober 26, 2018
Opening an online store and becoming an entrepreneur or even starting a side gig is a commendable job.
It can be difficult if you don’t have the right tips for starting an online store. There are many ways to tackle this task, so we’re giving you some significant pointers.
Step One – Niche
This process involves picking a niche. This step, along with step two takes the longest. You want to decide if you’ll be selling pet-related items, home decor, apparel, electronics, etc. Whatever you select should be of interest to you. A lot of times businesses fail because there’s a lack of passion, so choose wisely.
Selecting a niche is one of the most important tips for starting an online store because it will determine the rate of your success. If you don’t pick from a winning category, your store can suffer greatly. Take your time with this step. It’s not uncommon for this process to take a few weeks or longer.
Step Two – Sourcing
Thank goodness for the internet we say because it has made sourcing a lot easier than let’s say ten years ago. There are a variety of ways for you to source your products, both online and in person. Again, this is a process that takes time so use it to the best of your ability.
Step Three – Platform
Now that you’ve got an idea and have your sourcing selected, you’ll have to decide how you’ll sell your products. Will you use a hosted ecommerce platform? Will you create and host your own site with open-source or e-commerce software? Will you provide your products primarily on third-party platforms. Sites like Shopify have made the world of e-commerce accessible for everyone to get started.
Step Four – Costs
Of course, financing is one of the essential tips for starting an online store. One of the advantages of e-commerce is the low start-up costs. Low cost is different from free, so you must create a budget and plan for obtaining your products.
You’ll also have to account for purchasing domain names, website hosting, email set-up and more. Keep in mind that since you’re creating a business, you may need business registration in your city and state. These are just a few examples of the associated costs that you’ll need to consider.
Step Five – Promotions
Now is the time to start marketing your store and products. Will you use social media or avenues like Google Ads? There is a myriad of ways to share your new business with your specific customer base.
We’ve succinctly given you some tips for starting an online store. Feel free to contact us directly for detailed and specific assistance.