In 2018 alone, the online sales of physical goods reached $504.6 billion. By 2023, this number is expected to surpass $735 billion.
The fact is people like buying things online. If you want to get in on this huge profit potential, then the first thing you have to do is learn how to open an online store.
While this may seem simple and straightforward (and it definitely can be), there are a few things you need to know to help you achieve success. Keep reading for some tips on how to open a successful online store.
1. Decide What You Want to Sell
Sounds pretty simple, right? Well, not exactly.
You have to think about it from a logical standpoint. When it comes to selling items online, there’s going to be competition. As a result, you need to find something that isn’t too competitive.
Also, it’s a good idea to sell something you are passionate about. After all, you are going to be working with these products each day, so you don’t want something that’s going to bore you.
If you don’t have products on hand to sell, then consider drop-shipping. This is something an Amazon Marketing Agency can help you with.
2. Choose a Business Name and Register Your Domain
Your business name is crucial to your success. Some tips to help you find the right one include:
- Something that’s easy to pronounce
- Something that’s significant
- Something that’s original
- Something that’s available as a .com domain
Remember, your business name should be one to three words – max! The easier it is to type and pronounce, the more people who are going to remember it.
3. Choose an E-commerce Solution
The next step is to choose the type of e-commerce solution that’s right for you. In most cases, this is going to come down to your budget and your level of experience.
The options you have to choose from include:
With this solution, your website is hosted on the e-commerce service providers servers. They provide you with the software to build and power your store.
If you are new to building a site, this is going to be your best option.
Another popular option is a licensed solution. This is an out-of-the-box platform that’s installed on your computer.
Unlike the hosted solutions, you have to find your own security and hosting, which can be somewhat challenging.
These are usually free downloads that require you to completely build your website from the ground up. If you want to fully customize your site, then this is a great option.
The downside is that heavy programming skills are a must-have. As a result, you may need to hire someone for help.
How to Open an Online Store: Now You Know
If you have been wondering how to open an online store, the tips here should help you get started. Don’t give up, as your persistence to make your online store dream a reality will come true.
If you enjoyed this informational article and would like more insight, then check out our blog on what makes a successful entrepreneur. You may find even more insight into your new, online store venture.