How to Create Online Store with a Small Budget:
4 Steps to Follow
You are 4 steps away from starting an online business on a budget! Read and discover how to create online store with just a few hundred dollars or less!
Online customers from all over the world spend over 2 trillion dollars at online stores in 2017 and according to one research by Statista, this number is going to grow and hit $4.48 trillion by 2021.
Who can blame you from wanting to start an online business. Opening a physical store can cost you thousands of dollars to launch and there is no guarantee it will be a success.
Ecommerce industry is a different store. You can start your own online business with a lot less, a lot lot less.
In this article, we will show you how to create online store with just a few hundred dollars:
1. Find a popular product:
The first thing you need to do is choosing a product. In the ecommerce industry, you will have to compete with all online stores. Imagine competing with eBay or Amazon? Scary, right? Ignore the fear because now your goal is to choose a product or find a product that is specific and has these two attributes: an audience that is easy to target and has a small amount of competition. Some products that fall into this category are Star Wars coffee presses, hippy leggings, Lumberjack mugs, eco-friendly backpacks. We recommend you to make a list of the products you would like to sell, go to Amazon or eBay to check the products, and see the rank number. You need to find popular products or at least ideas that can help you come up with unique products to sell.
2. To drop ship or not to drop ship:
The next step is deciding whether you want to drop ship your items or not. With drop shipping, you will enjoy a few benefits including spending less time handling inventory and shipping. The biggest disadvantage of drop shipping is that the profit margins are usually smaller. You are paying the supplier to store your products and ship the products for you. So, while you might save time with having someone else to store and ship your products, you might end up spending more money. If you are looking to make more money, we recommend you to ship the products by yourself.
3. Create online store:
The third step is deciding where you want to sell your products. The marketplaces and ecommerce platforms are a great place to create online store. One of the best and most popular options for selling your products online with a small budget is Shopify. If you are interested in building your own online store to drive customers and sales, then selling online with Shopify ecommerce solution is definitely the right choice. The cheapest plan will cost you $29 and you’ll get all the necessary features for building your store. Shopify has a huge app database where you can find some great apps to improve the functionality of the store. Shopify is one of the best places to invest your small budget. Two other options to consider are Amazon and eBay.
4. Use social ecommerce integrations:
One easy and effective way to promote your new store is to use Facebook. Social ecommerce makes it super easy to extend brand exposure and increase sales. With Shopify, you can now sell directly on Facebook. Other great options you may consider are Pinterest, Instagram, and etc.
The internet users are spending trillions of dollars on the web, purchasing. If you want to get a piece of the pie and create online store with a small budget, follow these 4 steps to get started!