Looking for another income stream? #eCommerce
Ever find yourself thinking about what you can do to earn extra income? The eCommerce industry has taken off and is still booming. By the end of 2017 online eCommerce sales increased by 13% and experts say that it will continue growing. Research shows that 96% of the population have made an online purchase, 80% of the population have made an online purchase within the last 30 days and 51% prefer to shop online. What does this mean for you? This means there is a great opportunity available for anyone who is willing to take the leap of faith in themselves and start an eCommerce business.
I’m sure as soon as you read the last sentence of the previous paragraph some of you thought to yourselves: “start an eCommerce business?” “I have no business experience” “I have formal business education” “what if I fail?” “will it be worth it?”. I am going to tell you right away that you will have many doubtful thoughts and many doubtful moments. And I say to that IGNORE THE NEGATIVITY. Our brains are not wired to be successful, they are wired to survive. You must consciously and actively become successful. Therefore it is natural to be doubtful when thinking about a thought that is out of your comfort zone.
Now that you’ve read the statistics on the eCommerce industry, what would you say if I tell you that you can launch an online shop, get order, sell products, and have them shipped out all without having to store or pre-purchase the item? Yes, you read that correctly. It’s called dropshipping. Below is a diagram on how dropshipping works.
There are many dropshipping companies available out there. All you need to do is find the right one for you and your shop. It’s important you think hard about what you’d like to sell and find the right company to match your needs. Many of the online shop web building services have applications, or access to companies that have dropshipping services for very low fees.
Dropshipping companies are not the only ways to run your online shop. You can purchase products in bulk and re-sell them at a higher price for profit. There are many sites that sale wholesales. There are many pros and cons to this model as well as the dropshipping model.
Above is a table with a couple of pros and cons from each model. It depends on you and what model fits you best. You may be too busy to ride around shipping merchandise, or lack storage space for the merchandise. Or you may have tons of time and storage space and would like to have more of a profit margin because you control what you buy, how much you pay for it and how much you sell it for.
Running an online shop is not as hard as you think. You can pay for an online shop platform and for less than $40 a month have your own online store. You can purchase your own URL for less than $20 per year. So if you make about $42 in sales a month you pretty much cover your online store platform fee and URL name. When you think about it that way it doesn’t sound as hard as you thought when you first started reading this article right?
QueenBChronicles (QBC), LLC is a company that provides services to help navigate in the eCommerce industry. Contact firstname.lastname@example.org for information on services and prices.