Have you ever considered starting an eCommerce website?
An e-commerce website is simply a website that sells physical products.
If you're interested in earning money online, then e-commerce is probably an attractive option for you.
You can sell products in just about any niche you're interested in and the start up costs can be minimized if you know a few tricks of the trade. (Which I'm about to share.)
There are basically five different models for successful eCommerce online…
Here are the top five methods:
1. Making your own products
With this method you own the product and brand completely. That's because you make your own products and sell them through your own web store.
2. Working with a Product Manufacturer
Maybe you have an idea for a great product but you aren’t able to produce it yourself.
If so, this is the model for you. You can work with a supplier to make the product you have in mind, then sell through your online shop.
3. Wholesaling
With this eCommerce model you "curate" products you like and then buy them, store the inventory, and sell them at your online store for a profit.
This can be a bit pricey to start since you'll be buying your products upfront.
4. Dropshipping
If you want to get in cheaper, then instead of buying your products you can work with a dropshipper.
You can sell products from a variety of suppliers without buying products upfront or storing lots of inventory.
Each time an order is placed at your site, you forward it off to the supplier for fulfillment and shipping.
5. Private label / White label Products
This method involves purchasing premade products, then applying a private label to the product to make it your brand.
Sounds simple enough, right?
Well, the real secret to success with eCommerce is not the model you choose.It's keeping costs down…
The high costs to run an eCommerce store while getting new customers regularly, is what keeps most people from achieving success in eCommerce.
The best two ways to to keep your costs down is to use a low-cost platform without fees and get your website traffic for free.
When it comes to eCommerce platforms, there is no shortage of options for you to use.
You can tap into WooCommerce if you're a WordPress site owner. Or, if you want to use a SAAS (software as a service) solution you'll get more options and tools. But you'll pay for them!
Sites like Shopify, BigCommerce, Squarespace and Magento, are just the tip of the iceberg. Nowadays there are literally hundreds of eCommerce solution providers to choose from on the web.
If you are new to eCommerce, I suggest you start without any of those fancy tools. Again, they can get pricey in a hurry, with monthly costs exceeding thousands of dollars.
If eCommerce interests you and you want to give it a shot, dip your toes into the water without taking a big risk.
