WANT TO START AN ECOMMERCE BUSINESS?? CONSIDER THESE..

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With the internet craze going on, a lot of people with the passion for sales are opting in for Ecommerce business. It is cheaper to run especially if your type of products don't need a warehouse, so you don't have to pay rent and it is really profitable because people like me that hates the stress of going to the market will always patronize you, I'd rather stay home and just shop online.. And I know there are tons of people like me especially if they are always working and can't get themselves to actually go shopping..

But Ecommerce business can be lucrative and it is not just something one would love to jump into, it's not just about having a super dope website.. As easy as it might sound, there are things to consider before diving in..

First, decide the products you want to sell.

When choosing the products you have to consider 2 things.

• Your niche: You have to pick a niche to focus on first when you start. Probably hair products or lingerie and start small.. Then you can add other products as your expands..

• Uniqueness: You have select a unique product, especially ones that can't be found in big and popular online stores because if you opt for the same that can be found there, you'll be having a huge competition which you can't win as they can afford to do bigger promotions and discounted prices. So select products that can't be found there.

• Passion: If you want to do this business for a long time, you have to select something you are passionate about. So that you won't give up when it gets tough..

Business License

So you might be thinking you don't need a license because it's an online business.. But you need to know that you are reselling other people's product and if you are looking forward for a long term business, you need a resale license so that you can get a discount from wholesalers if you don't get it, you will be paying for the products in full and you won't make profit. So you need to consult an attorney and know how you can protect your business, how you can get a Product liability license and any other thing, register your business and get a license etc.

Shipping

Consider how you would love to ship to your customers.. Would you want to to use a drop shipping company, in this case the manufacturers will ship the products to your customers after you have take their order. Note that you will pay more this service. Or you can decide to ship to your customers directly, this means you order from the manufacturers and keep in store or warehouse, then ship directly when your customers orders. It also means that you will have to purchase shipping equipment and do all the packaging yourself.

Policies

Consider how you want to run the business, will customers return products they don't like after breaking the seal. You have state your policies for returning products and it has to depend on the type of product. Can you sell the products after return? Clearly state your policies on returning products on each product.

Credit Card Processing Tool

Consider the card processing tool to put in your website, this enables your customers to to pay online via their credit cards. companies like, PayPal, Amazon,Apple Pay etc offer this service but keep in mind that they deduct transaction fees from every product bought in your website. So you should make adequate inquiries and know which is best suited for you.

Profits

Consider your profits and how to keep track of them. Keep track of all your expenses in a spreadsheet, which includes the cost of the products, shipping costs, shipping equipment such as boxes, tapes, labels etc, drop shipping costs, Time, Card transaction fees, website fees etc. Then decide your intended profits and add them to each products including the costs too..

Website

Consider if you want to build a website or you want to own a store on Amazon or Jumia, make a research and know which one is more suited for you and your business bearing in mind the costs.

There are number of other things to consider as well to make your business successful but these points will give you a head start at the right direction.

Thanks for reading..
I'm looking forward to your contributions..

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