Options for Starting Your Own Online Retail Store

admin January 28, 2017 Comments Off on Options for Starting Your Own Online Retail Store
Options for Starting Your Own Online Retail Store

In many ways, starting an online retail store is quite the same as opening a “traditional” brick and mortar store, but yet, they are very different at the same time. Like with any other business, planning, organization, working hard and doing the math is very important.

Still, there are also unique factors that revolve around opening an online retail store, especially if you don’t have a lot of money to invest initially, but still have great ideas on how to make money online. It’s true that the online world gives you more options, but bear in mind that there are hundreds, if not thousands of other businesses that will focus on the same market as you and this means that the competition is rather fierce.

Basically, there are three ways to approach this matter and you can choose one depending on your budget, your business plan, the type of products you intend to push into the market, and the number of people you plan on working with.

Opening an Ecommerce Store

Clearly, the most direct approach is to start your own ecommerce retail website. Opening an ecommerce website truly means being on your own and having the most freedom when it comes to making your online business the way you want it to be. However, this also means that you will have to put in the most effort and do a lot of things on your own.

With this approach, you will be able to self-host your online store, customize it the way you see fit and be the direct link between your products and customers. Additionally, you will be able to implement the payment methods you see fit and get the money directly to your account without a middleman. Just do some additional research and find some credit card processing company rankings to get the best service you need, so that people can buy from their accounts directly at your store.

When building a website from scratch, you must make sure that it’s functional, that it gives a great experience to visitors, has an amazing design, is intuitive, that it works smoothly, etc. However, you won’t have any limitations and you will be able to do everything the way you think is right. This approach requires more money, but you will have a greater profit margin.

Opening an Ebay Store

Having an eBay store of your own has its advantages, Etsy and eBay are quite similar but both of them have their upsides and downsides, which are different, and it all comes down to incorporating them into your business in the best way possible. The process of setting up a store on eBay is very simple.

It’s almost like installing a simple program on your computer. The level of customization you can do is very limited, but if you are creative enough, it’s possible to make it distinctive and recognizable. However, all of the purchases people make at your store will go through eBay’s service and interface.

The level of control you have over your store will certainly be limited. You will be provided with hosting, payment services, design and functionality, but you won’t have the ability to change more than is allowed. You won’t have to go through the hassle of creating a store from scratch, but you should definitely look at the guidelines to see what you can and cannot do.

Opening an Etsy Store

In many ways, opening an Etsy store is pretty similar like with eBay. You get everything you need, with a bit of customization options and the opportunity to brand your store and look unique. eBay doesn’t have any limitations when it comes to what kind of products you can sell to their visitors, but with Etsy, there are certain limitations.

Apart from little flexibility, Etsy also favors artists and creative types that try and sell unique and interesting products which are handmade. Art pieces, vintage items, necklaces, jewelry, and similar items go really well and Etsy will even push you forward if they see potential in what you have to offer.

Despite the fact that Etsy is smaller that EBay, they have a crowd of people which are interested in these kind of items and if you plan on selling similar items, Etsy might be just the place you were looking for.

No matter which option you choose to go for, it’s important that you consider some essentials before starting your retail store. First of all, make sure that you offer unique enough products that have the potential to be interesting to people. It is also very important that you present your products properly and market your store as best as possible. It’s impossible to attract people without a marketing strategy.