How much do you value your time? If you’re like most entrepreneurs, the answer is probably a lot or too much – or both! Since you probably don’t want to waste hours of your precious time trying to figure out how to start an online store that makes money, here are seven proven steps that will help you get up and running with minimal fuss. You can make money with an online store. Can you start an online store that makes money? How do you start an online store? If you have any of these questions, then you are in the right place!
The idea of having your online store
Running your online store is a great way to make money from home. But it’s not as easy as just opening up a website and waiting for the profits to roll in. For your e-commerce business to succeed, you need traffic.
Generating traffic is the key in any business, but it becomes especially important when running an e-commerce store. To be successful, you need people coming back and buying from your site over and over again. One of the best ways to do this is by using search engine optimization techniques. If you start with these seven proven steps, you’ll have everything you need to start your e-commerce store that makes money in reality.
First off, invest some time into developing your product descriptions and quality images so shoppers can see what they’re buying.
Once you’ve done that, take care of all the backend details like sales tax and banking so they are all set up before going live.
Next, advertise your e-commerce store to get customers! You should also establish yourself on social media sites like Facebook and Instagram to increase engagement.
And finally, to help keep visitors returning, run promotions and contests to offer discounts or freebies.
With these 7 proven steps, you’ll be well on your way to launching a profitable e-commerce store that makes money factually. Keep reading.
Registering your domain name
If you want your store to be successful, you’ll need a domain name and hosting. There are a few different ways to register your domain name. The most common is registering it through the website of your hosting provider. This can be done at any time during the process, but it’s generally recommended that you register as early as possible because many popular domains are taken by others as soon as they become available.
Registering with the e-commerce providers:
Once you have registered your domain name, you will need to start shopping for e-commerce software. Popular platforms include Shopify and BigCommerce. You will have to set up an account with one of these providers to create your online store on their platform. You’ll also get access to their app stores where you can download apps like payment gateways and shipping carriers for free or for a monthly fee.
E-commerce web hosts:
After choosing your e-commerce provider, you will need to choose a web host. It’s important to find a host that offers enough space and bandwidth for all of your future traffic needs. A good rule of thumb is 10GB per 1 million visitors per month.
E-commerce platform setup:
With your e-commerce provider chosen, you should now move on to setting up your e-commerce store on their platform. For example, if you have chosen BigCommerce then the next step would be setting up a business plan and then finally adding products.
Payment gateways:
Before adding any products to your new store, we recommend that you install a payment gateway to ensure customers don’t see errors when trying to check out. Some e-commerce platforms offer built-in payment gateways, while others require you to use a third party such as Stripe or PayPal.
Shipping carriers:
Customers often have specific expectations when it comes to how long their orders take to arrive. To help meet those expectations, you’ll need to configure your e-commerce site with various shipping carriers so that customers’ packages will be delivered within the timeframe they expect them.
Creating your website
You’ll want to decide on your niche, which is the type of product that you’re going to be focusing on. For example, if you like doing crafts as a hobby and you enjoy creating artwork, then your niche might be crafting supplies. In this case, it would make sense for you to sell products such as yarns, sewing supplies, and other craft-related items.
You can use Google’s Keyword Tool for free to find out what people are searching for in terms of their interest in your niche. Once you have some ideas, head to Shopify or Squarespace to set up your e-commerce site. Once your website is ready, consider whether you will also offer local pickup or delivery services at competitive prices.
For many new e-commerce stores, the shipping fees may not be worth the expense when they first start. However, don’t let this deter you from selling locally either because it offers more convenience for shoppers and can provide great word-of-mouth advertising opportunities.
As mentioned earlier, there are plenty of e-commerce sites available for anyone who wants to start an online store but doesn’t know where to begin. One popular option is Shopify, which charges $29 per month plus transaction fees (2.9% per sale) and allows sellers to create everything from blogs to full e-commerce websites.
While it does cost money to use this platform, it has helped countless entrepreneurs succeed by providing them with easy templates, professional design options, 24/7 customer service, and more features than any competitor in the industry.
Choose your E-commerce platform wisely
The next step is to choose the e-commerce platform that you’re going to use on your site. There are several different options on Shopify such as Magento, WooCommerce, and BigCommerce but they all vary in terms of features and complexity so it’s best to try out a few before deciding which one will work best for you.
Choosing the best Shopify theme
The first thing you need to do when choosing a Shopify theme is figuring out what type of store you’re going to have. If you’re already familiar with some of the different e-commerce templates, it might be a good idea for you to take your time and make sure that you’re picking one that aligns with the type of product or service that you want to sell.
For example, if you’re looking at selling apparel, choosing a clothing template might be your best bet. But, if you’re interested in having a broad selection of products to offer like food and beauty items, then a general e-commerce theme might be better suited for your needs.
You can also look into more specific themes that are related to certain industries such as women’s fashion or wedding dresses. It’s important to think about your customer because if you’re going after customers who are outside of your niche, then you’ll want to give them something relevant and aesthetically pleasing for them not bounce off from your site.
Reviewing other e-commerce stores
E-commerce is one of the fastest-growing industries in the world. If you’re looking for a business idea, it’s worth considering. One way to make money with e-commerce is by selling your items. This post is outlining 7 proven steps on how to start an online store that makes money in reality.
The first step is reviewing other e-commerce stores and determining which model will work best for your needs.
For instance, if you have an already established brand name and website or blog, then partnering with Amazon might be the best option for you to sell your products because Amazon customers are often highly engaged and may be more likely to purchase from brands they know and trust than from a new e-commerce site.
Alternatively, if you’re starting from scratch without any preexisting connections with customers, then building your e-commerce site might be the better bet.
Additionally, when deciding on what platform to use for your e-commerce site (Shopify, BigCommerce, Magento), consider whether you want complete control over design and features or rely on the platform’s built-in tools.
Whatever route you take, keep in mind that there are several risks associated with opening an e-commerce store so do your research before jumping into anything!
Deciding on how much inventory you need to keep in stock
Inventory is the backbone of any e-commerce business. It can be the difference between a successful and unsuccessful online store. The trick is figuring out how much inventory you need to keep on hand at all times for your store to run smoothly. This will vary from industry to industry, but some general guidelines can help you determine how much inventory you should have in stock.
For example, if you sell clothing or accessories, it’s wise to carry two months’ worth of products so that people don’t see empty shelves when they visit your site. On the other hand, if you sell electronics or food items with a shelf life of 3 months or less, you only need one month’s worth of products in stock.
Make sure to consider how quickly your items are selling as well before deciding how much inventory to keep on hand. If demand for your merchandise is high, then you may want to double up on supplies and carry three months’ worth of goods instead.
Conversely, if sales are sluggish, then you may want to cut back down to just one month’s worth of goods and lower your overhead costs accordingly. Remember: You always want more money coming in than going out!
Understanding Shopify fulfillment options
Shopify offers three fulfillment options for your store: Fulfillment by Shopify, Fulfillment by Amazon, and Fulfillment by Amazon (FBA). The first two options require you to fulfill the order yourself while the third option is a combination of the two.
The cost of each service varies depending on whether you use it with Shopify or if you use it with Amazon. For example, Shopify will charge $29 per month plus transaction fees based on your volume while Amazon charges $10 per month plus variable transaction fees. Additionally, there may be additional monthly charges such as storage fees which can range from $2-$100 per month.
The bottom line is that one service might be better than another depending on the specifics of what you’re looking for.
If time savings and flexibility are important to you, then choosing Fulfillment by Shopify might make sense but if your goal is maximizing profit, then Fulfillment by Amazon (FBA) would be more appealing. The choice between Fulfillment by Shopify and Fulfillment by Amazon is only part of the equation when starting an online store.
You’ll also need to determine how much inventory you’ll carry, how often you’ll restock items in your inventory, how many items you want in stock at any given time, and what kind of sales tax rules apply to your business.
Add Products
We are going to show you how you can start your online store and make money. If you’re not a tech-savvy person and don’t have much time or money, this is the right way for you. One of the first things that you should do is find a niche or product that people are passionate about, and then build your store around it. Next, decide what type of e-commerce platform would work best for your business. The two most common types of e-commerce platforms are Shopify and Woocommerce. These two platforms both offer free plans, which makes them perfect for those who are just starting. You will need to set up a blog on WordPress with an E-commerce plug-in and purchase a domain name. When setting up your account, you’ll want to make sure you select ‘selling space’ instead of ‘eCommerce online-store’. You will also need PayPal because customers will want to be able to pay with credit cards. After getting all the basic information in order, such as products, payment options, shipping rates, and so on, it’s time for promotion!
Create Checkout Funnel
Checkout funnels are the most important part of any E-commerce site. They represent the last chance for conversion before the customer leaves your site, so it’s important to make sure that the checkout process is as painless and quick as possible.
It should also be noted that some people find it difficult to remember their passwords, so one good idea is to have a reminder box near the login form for users to fill in their email addresses. The downside of this idea is that emails often get lost in inboxes or spam folders.
To prevent this from happening, you can have it automatically send the user an email with a link to reset their password. The best way to do this would be by using something like Mailchimp, which will automatically send out these messages without too much work on your end!
Generate Key Pages
1. Conduct Market Research: The first step in starting your online store is to conduct market research and find out what the demand for your product or service is. You may be able to get some of this information from competitors, but you’ll want to make sure that your product or service fills a void in the marketplace and that there is a need for it.
2. Choose a Domain Name This will be the URL of your website and should represent your business name or product name. Make sure you choose one that’s easy to remember.
3. Create Your E-commerce Site Next, you’ll need to create your e-commerce site using a content management system (CMS) such as WordPress or Shopify.
4. Design Your Website Designing your e-commerce website properly can make all the difference when trying to sell products. It’s important to consider colors, typography, graphics, and other design elements.
5. Offer Great Customer Service One thing many people forget about when they’re creating their e-commerce sites is providing great customer service. Customer feedback can help improve their experience with your company and increase sales over time.
6. Promote Your Business Online To promote your e-commerce site, you’ll want to start by setting up Google Analytics and search engine optimization (SEO). These two things will allow potential customers to find your website when searching for products like yours.
7. Start Selling Products Once you have created your e-commerce site, set up analytics and SEO on it, and promoted it on social media platforms like Facebook, Instagram, LinkedIn, and Twitter, the last step is to start selling products! Be creative and come up with ways to attract customers.
And don’t forget: don’t underestimate the importance of running a successful e-commerce business!
Conclusion:
As the creator of several successful online stores, we know how challenging it can be to figure out how to start an online store that makes money without getting in over your head or spending too much money. Here in this guide, we have mentioned seven proven steps you can take to make sure your online store does just that. We have explained these steps in more detail above and also discussed why an online store could be the right choice for you!