Start An Ecommerce Store - Business Ideas
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
An eCommerce business is a company that sells products or services online. Ecommerce businesses have many advantages over brick-and-mortar businesses, including lower overhead costs, increased flexibility and reach, and the ability to reach a wider audience.
eCommerce is booming right now because of the convenience and efficiency it offers consumers. Consumers can buy products from their favorite brands on a platform that makes the whole process easier than ever. They don't have to leave their homes or go out in public, they can just sit down at their computer, tablet or smartphone and browse through all of the options available to them.
To start an ecommerce business, you'll need to set up a website where customers can browse your inventory and purchase items, as well as payment processing software that allows you to accept credit card payments. You'll also need to choose a shopping cart software and manage inventory tracking software.
Starting an ecommerce store requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell ecommerce store, or selling ecommerce store online, you can use this page as a guide for everything you'll need to know.
Key Stats
Startup Costs
| Min Startup Costs | Max Startup Costs | |
|---|---|---|
|
Office Space Expenses |
$0 |
$7,000 |
|
Training & Education Expenses |
$0 |
$1,000 |
|
Software Expenses |
$0 |
$594 |
|
Advertising & Marketing Costs |
$0 |
$2,750 |
|
Website Costs |
$13 |
$215 |
|
Specific Industry Expenses |
$0 |
$100 |
|
Total Startup Costs |
$13 |
$11,659 |
Case Studies
•
$140K/mo
•
$600K/mo
•
$22.5K/mo
•
$200K/mo
Successful Businesses
| Business | URL | Rank | |
|---|---|---|---|
|
|
Tork Media LLC |
sncgrading.com |
37 |
|
|
Apple |
apple.com |
41 |
|
|
Stoic Muse |
etsy.com/shop/StoicMuse |
74 |
|
|
Ann + Joy |
etsy.com/shop/annandjoy |
74 |
|
|
Art Splash Academy of Fine Arts |
artsplashadyar.wixsite.com/music |
358 |
|
|
Shopify |
shopify.com |
626 |
|
|
WorthPoint |
worthpoint.com |
1,768 |
|
|
Patagonia |
patagonia.com |
4,461 |
|
|
Kiss My Crown Essentials |
kmcessentials.square.site |
4,517 |
|
|
PayKickstart |
paykickstart.com |
6,758 |
|
|
Exchange |
exchangemarketplace.com |
7,530 |
Pros & Cons
| Pros | Description |
|---|---|
|
Flexibility |
You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own. |
|
Ability to start your business from home |
It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning! |
|
Little startup costs required |
The cost to start a ecommerce store costs significantly less money than most businesses, ranging anywhere from 12 to 11,659. |
|
Rewarding work |
Starting a ecommerce store can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about. |
|
Scalable |
With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers. |
|
Traffic to your website |
A ecommerce store gives people a reason to visit your website and to keep coming back to you! |
| Cons | Description |
|---|---|
|
Crowded Space |
Competition is high when it comes to your ecommerce store, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies. |
|
Constant maintenance of publication |
You may find yourself constantly needing to update your ecommerce store in order to stay relevant for your audience and for those searching on google. |
|
Lack of benefits |
With a ecommerce store, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming. |
|
Isolation |
Often times, as a ecommerce store, you typically work alone and do not have much face-to-face interaction with other team members. |
|
Taxes |
As a ecommerce store, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it. |
|
No safety net |
Typically, as a ecommerce store, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times. |
Marketing Ideas
-
1
Affiliate Program
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
-
2
Direct Sales
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
-
3
Word of mouth
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
