Dreaming of starting a successful online business that goes with your interest? Why don’t build an online store of yours and become successful in making money and spending quality time with your family and friends. After all, it is your life and you have full freedom to do whatever you like. You can switch your career from the 9 to 5 rat race and build an online store to make a living. It is no doubt a lucrative option that requires minimum investment but gives you a high return. These days, we like to spend hours in online shopping through various sites on a regular basis as we try to avoid going to a traditional storefront for purchasing goods. It’s a trend to shop online and this makes the online store business very promising.
What is an Online Store?
An online store is a place where customers buy goods or services from online portals rather than going physically to the shop. Online portals like Amazon or Flipkart are the best example of the online store.
Benefits of Starting an Online Store
Before starting or planning about any business, it is very necessary to find out its benefits and market potentiality of the same. Below are the few major benefits of starting an online store: –
- Home Base Business: – You can easily build an online store just by sitting at home. It is a great opportunity for people who want to avoid the daily routine of service. Doing service have a great benefit of fixed monthly salary, but you also need to sacrifice a lot for the same. In a day you spend an average of ten to twelve hours in office including the travelling time, which you can easily invest in home-based jobs and earn a higher return.
- Less Capital Involvement: – As an online store is an online business idea, so you don’t need to invest in location or infrastructure. Like for setting a small shop also, you need to invest huge money over that it has a monthly maintenance expenses. For setting up an online store you just need a computer at your home and can run it easily by yourself.
- Market Potentiality: – Humans are getting more busy in every passing day for the search of success and growth, thus they have very little time to invest in other leisure activities like going out for shopping. Through online store, you can get the same item online with comparatively same price as available in the market but without spending time in traveling and searching the products physically.
Over that, in online shopping, you can search for various products in a single place. This is the reason behind the increasing use of online shopping all over the world.
- Market Exposure: – A good business setup like a shop dealing with any kind of item is exposed to the customers in the locality only or maximum to the states. But with an online store, you can get exposure to the customers in all around the country or the world, which means a massive market area to run the business.
Like the benefits, online stores also have its disadvantages like: –
- Time of delivery: – The delivery of ordered goods takes at least 4 to 5 days to get delivered, due to which some people avoid purchasing through online stores.
- Competition: – There are many highly successful online stores available in the current online market, so the completion for a new portal is very high.
- Proper Setup: – It is very easy to build an online store, but it needs a proper setup to run successfully.
How to Start an Online Store
You can build an online store of your own or work as a faceless brand for other present franchisees. You can still make good money by working for other online stores but the real fun and profit is creating a standalone sites as with that you can build a relationship with your customer and increases your brand value. Let’s find out the steps to build an online store: –
- Select the items:
Before starting an online store, you need to do a details research of the market type to choose the types items for the business you are going to have. Like select from stationeries, electronics or garments or are you going to deal with all. A thorough research of the market will help you to decide about the same.
- Choose the type of business:
You also need to decide the way of handling your products, like carrying physical inventory by yourself and shipping it to the customers or make a contract with other companies that have experience in handling physical inventories.
- Select a popular platform for your shop:
If you decide to build up a standalone site, then you need to select an e-commerce platform that provides an overall support for your store including store templates and its customization, built-in mobile commerce shopping cart, hosting etc. Don’t be afraid, if you are not code savvy person, you can use Shopify or Magento for setting up your online store. These are fully-featured and well-supported system providing you a hassle-free solution for your store.
- Concentrate on SEO:
It is easy to build start the store using a well-supported platform but the hardest part is to get a good ranking in the search engine result page.