Your own online store — How to create
A small guide on how to create your own online store.
Today I have prepared a small guide on how to create your own online store and make money on it.
Just a few decades ago, people who made jewelry, clothing, or other options themselves could only make their projects “in the box” or at the individual request of their closest friends.
Nowadays, it is much easier to sell your own or other people’s products. In the world of modern technology, you have a good chance to easily and quickly organize a profitable business.
So, where to start:
Creating a website or online store
The first and most important element of setting up an online store is to prepare a page where customers can buy the products you offer. Due to the fact that the competition in the e-commerce market is growing every year, it is worth investing in the preparation of a professional, “friendly” website that will be transparent and intuitive to use.
To do this, you can use the services of a programmer or choose a so-called cloud store, that is, ready-made software designed for online stores. The first solution is much more expensive, but you can be sure that the site will look and work exactly as you want.
Using ready-made templates, you will pay much less (or not at all), but keep in mind that the structure of your site will be much more schematic and predictable.
Purchase or manufacture of your own products
If you already know what your online store will look like, it’s time to place your products there. When you want to sell homemade products, everything seems simple.
You prepare products, take photos of them, and put them in the appropriate categories. In this case, you need to spend time preparing all the articles and money to buy the necessary materials. However, many online stores rely on intermediaries.
This is how health food, cosmetics, or clothing stores work. Then you need to find suppliers and manufacturers who will cooperate with you.
Well, if the products you want to offer are hard to find anywhere else, or they are so niche that customers will find them exclusively from you. In other cases, you will have to compete with other players in the market who are already well established and can afford to significantly reduce prices.
Storage of goods
Easily store up to 100 pairs of earrings or 500 printed T-shirts. All you have to do is equip one of the rooms in the house. But what if you want to sell healthy food, children’s toys, pet accessories, or eco-goods? Then you will have to rent a warehouse, which entails additional costs.
To reduce the cost of storing goods, you can sell using the direct delivery model. Then the products will be delivered to the customer directly from the warehouse. Your task is to collect the orders and pass them to the suppliers to form the order. Then you earn on the difference in the products you sell.
Choosing the form of doing business
When opening an online store, you need to choose a form of doing business. The only restriction in this case is the activity in the form of a partnership.
You can choose: self-employed, sole proprietor, LLC or JSC. Your decision will affect, in particular, the method of accounting for taxes and the possible distribution of profits.
How much does it cost to make your own online store
The cost of creating an online store depends on many factors. It is important to note that there is no clear rule that proves that the higher the initial investment, the greater and faster the business success.
On the contrary, it happens that a small but purposeful store grows over time, becoming the leader in its category.
If you have a very limited budget, use free software for online stores, prepare photos and descriptions of all products yourself.
Of course, each store will have its own specifics, so in some cases you will spend less money on advertising, but you will have to invest more in materials or vice versa. Also remember that as an aspiring entrepreneur, you can take advantage of preferential rates.
You will pay lower insurance premiums in the first 24 months of work. You will also need time, in addition to money. The more you spend on making your dream come true, the more likely you are to be able to make it happen.
If you are thinking about opening your own online store, but have not decided on the subject, and with suppliers — you can write to me, I will tell you how to quickly do everything.
I want to finish this article, thank you all for your attention!