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Most people think that by opening an ecommerce business it will make them rich beyond their wildest dreams. Although ecommerce can certainly be a profitable endeavor and has the potential to make you a good amount of money, it doesn’t necessarily mean that it will happen overnight or that certain traditional business and decent rules don’t apply to online retailers.
Many online store owners have made an honest attempt to be successful at ecommerce, yet have failed. Starting any new business, whether online or off, is a lot of work, and success rarely happens overnight, but if you are patient, and hardworking, it is certainly possible to be a successful ecommerce business owner.
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Absolutely yes! Selling online can be done on a small or large budget
equally successfully and there are hundreds of thousands of successful users
to prove it. As with all business expansion, do your research, get advice from
trusted sources, decide what you can afford to spend to test the waters, and
then jump!
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A few companies supplying solutions for selling online still keep all
maintenance of ecommerce sites under their direct control. This means that
if you want to change a price, you have to go through the supplier, potentially
delaying your site updates. While this provides the service provider with a
revenue stream, it isn’t best for the merchant. The best way is to have a
means of directly updating your site. This way if you can do it or if time is
an issue get a third part to help you. Also, it’s always worth asking what
protection you have if your supplier goes out of business.
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The answer varies according to the sophistication and volume of the
site. Professional ecommerce software is available for under £500 (or around
$800), and you can rent web space capable of running such software for
under £100 (or around $150) per annum. Professional site design will
increase your costs, but you can still expect to pay around £2,000–£3,000
(or about $4,000–$6,000) for an average site. Of course more advanced
sites, and sites with multi-user capability for high volume order processing,
will cost more. For start-ups a cost affective option can be ecommerce providers
offering mothly subscription services from around £20 (or around $25)
Just make sure you leave enough in your budget formarketing your site.
No visitors = no sales.
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Less than people think. In fact, the security risks run by web
merchants are similar to those of mail-order companies. Just like them,
it is sensible for merchants to put anti-fraud policies in place such as
phoning to confirm orders that are a particularly high value or that come
from parts of the world more prone to fraud.
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E-commerce FAQ's
