The eCommerce industry is booming, with worldwide revenues soon set to touch $3 trillion annually. If you’re planning to start an online business, you couldn’t have picked a better time. Getting set up in the online retail world is difficult, though. Fortunately for you, we have prepared an easy reference guide to smoothen the process:
#1 Design a business plan
Have you identified a niche market and an unfulfilled need? First, come up with a business plan that handles setting up, financing, marketing, and operational strategies.
#2 Get the legal procedures out of the way
You must register with your local government for a business structure. Choose one that gives you the best tax benefits and then gather the required documentation.
#3 Pick the right products to sell
In this step, you want to hone in on the exact products you are going to be selling. You will also need to find a supplier that will deliver products to you or ship them directly.
#4 Create an inventory
While you don’t have to display the products you choose in a store, you’ll still require a decent-sized warehouse inventory that will let you cater to product demand. You will also need to add barcode stickers to the goods.
#5 Pick a domain name
Selecting a domain name is a crucial step. The name will be used by customers to identify with your business. Choose a memorable one.
#6 Create a store
You need to create a beautiful store that gives users a quality browsing experience and makes it more likely they’ll buy from you. You can use eCommerce platforms like Magento, WooCommerce, or X-Cart to build one.
#7 Market and advertise
Next, you must market or promote your products and services. You can do that with the help of email marketing, social media, by making an app, or write blogs. You will need to update your content regularly to keep your store relevant.
Your store must be fast-loading, responsive, and have advanced features if you’re going to impress customers and get them to buy from you. To make an excellent store, consider hiring an experienced eCommerce development team for help with the task.