Starting an Online Store? Here’s How to Make it a Success. How do you start an online store? Online stores have been around for years, but it’s only now that they’re starting to replace retail stores in terms of revenue. Starting an online store can be tricky if you don’t know what you’re doing, so this article will help you avoid the common pitfalls and ensure that your online store becomes a success.
- Preparing for your store
Before you even start creating your online store, it’s important to think through all of your business details. What type of products will you sell in your store? What kind of payment options do you plan on accepting? Where is your inventory located? All these questions and more need to be answered before you officially launch your website. You may even want to consider talking with a lawyer or an accountant regarding any legal or tax issues that could arise during the start-up process. While launching an online store is far easier than many people believe, there are still things that need to be considered so you can make sure everything runs smoothly from day one.
- Choosing a name for your business
I once started what I thought was going to be my first business only to learn that there was already another business with that name in my city. That taught me an important lesson: If you have a catchy, unique name for your business, there’s nothing wrong with trademarking it. The website LegalZoom explains how to go about doing that. When deciding on a name, think of how you want customers to perceive your company and its brand; then figure out if other businesses are using similar names or if anyone else is using your desired name as a domain address. Don’t start throwing money around until you’ve done at least some research into whether or not someone else has claimed ownership of your idea. You can also hire a company like Brandimensions Branding & Design Inc.
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- Choosing a payment system
There are two major ways for online merchants to accept payments: via PayPal or via credit card. The big difference between these two payment methods is that, when you use PayPal, your customers aren’t charged until they click confirm on their end. If a customer accidentally submits his or her payment information with no intention of buying anything (this can happen if they have a pop-up blocker running), they won’t be charged and will never know they were almost scammed.
- Choosing the right platform
Web-based marketplaces like Etsy and Amazon Handmade let you set up shop on your own website or on theirs. These platforms charge a commission for each sale, which can be as high as 15%. If you want to keep more of your profits (and have more control over your product pages), consider going solo with your own website. Squarespace is our top choice for ecommerce sites.
- Choosing prices
Not all online stores are created equal. What works for one store may not work for you; what works today might be outdated tomorrow. If you want your online store to be successful, then you need to know how to choose prices that will attract customers and sell your products or services effectively. In other words, you need to know how much is too much, too little or just right. That’s what we’re going to cover in our post today!
- Choosing shipping prices
When determining your shipping prices, you’ll want to take a number of factors into consideration. This can include everything from your item’s weight and size, as well as where you’re shipping to. To make sure you have all your bases covered, review our guide on how shipping prices affect sales and follow these tips
- Choosing products to sell
When you’re starting an online store, your first step is obviously deciding what products you want to sell. While you could simply focus on selling one or two very popular products, like clothing or jewelry, having many different options allows you to appeal to a wide range of potential customers. One way to decide what products you should sell is by looking at other sites that are already in your niche and seeing which products they offer. You can also ask friends and family members if they have any suggestions.
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