Whether it’s your first time starting a small business or you’ve been involved in the game for a while, this article will show you how to open an online store in 5 easy steps.
- Step 1: Determine your market niche
- Step 2: Decide between dropshipping or holding your own products
- Step 3: Choose what products you want to be sold
- Step 4: Create your online store with a website builder
1: Determine your market niche
Basically, this means deciding what to sell and to whom.
You must choose a niche that attracts long-term customers. Certain niches are absolutely terrible for the longevity of customers. Take the wedding niche as an example – people naturally think that the wedding niche is very profitable because people are willing to splurge on their big day, but they don’t realise that the “lifespan” of each client is too short.
Choose the wrong niche, and your sales may stagnate.
2: Decide between dropshipping or holding your own products (or wholesale)
We have collated a very simple table for you to look at the pros and cons of each option.
|Dropshipping||Holding own products (buying wholesale)|
|Pros||No starting capital needed, easiest way to start||Higher profit margin, better branding|
|Cons||Low profit margin, bad for branding||More capital needed to pack and transport products|
3: Choose what products you want to be sold
How do you know what to sell? You may examine social proof. Go to the Amazon Bestseller List to see the most popular products in your niche. Do the same with the eBay bestseller list. There is also a list of the best sellers on AliExpress.
4: Create your online store with a website builder
Our next few articles will show you various platforms you can do this with.
Did you know that you can build your own website in less than a day?
The Digital Spacee’s own website-building course can help you build your own e-commerce website easily, with no experience needed.
According to entrepreneur Charlie Ong, “I was initially sceptical about this course, after attending it, I managed to learn the secrets of how a website can be built easily without code. I am now developing websites for many clients and earning more than $2000/month!”
Start your journey to make more online sales at a minimal cost here.