If you’re still new to ecommerce, you might be wondering how to start an ecommerce business. You might also be looking to determine whether you should start with a brick-and-mortar store or online store. This article will help you decide which business model is best for you.
In today’s era, every person wants his control over his time and money. Every person wants to have an online business of his own, which he can take to great heights and earn a lot of money, build his name and fulfill his dreams.
If you also want to do online business and want to know how to earn money by doing E-commerce business, then read this article till the end.
In this article, we will tell you the complete process of how to start an e-commerce business from beginning to end and will also tell that you Estimated amount of money you can earn every month from e-commerce business.
Doing E-commerce business in today’s era is as easy as it was probably never before, today everyone can easily start their E-commerce business in very low cost and earn a lot of money from it.
There is immense potential for doing business in a developing country like India, that’s why top companies from all over the world are willing to do business in India.
India ranks second in the world in terms of population and third in the world in terms of the density of e-commerce, while the US is at number two and China is at number one.
Due to the advent of mobile and internet in India and the availability of internet at cheap prices, immense potential for online business has arisen here. Experts say that in the coming times, India will leave behind a super power country like America in the field of e-commerce.
If you also want to start E-commerce business then this is a very good time to start your Ecommerce business by taking more and more information about e commerce business.
Today we are talking in this article about how to start e-commerce business? So let me tell you that there are two proven ways to do e-commerce business, first is to create your own e-commerce website and launch it and sell your goods anywhere in the world.
The second is that if you want to save both money and time spent on building an e-commerce website, then you can sell your goods by registering on the popular online market place.
What is E-Commerce?
We also know E-commerce as Electronic Commerce, E-Business or Internet Commerce. E-commerce refers to the buying or selling of any goods or services through the Internet and transacting money through the Internet itself.
In this process both Seller and Buyer meet on the online platform and Seller provides all the details of his product and services to the Buyer online and if the Buyer likes the product he sees, He may decide to order for the product online and pays for it.
Benefits of E-commerce
Low Cost: As we know that in traditional business, we need a shop, then furniture, lights, fans, AC and staff who have to pay salary every month to do traditional business. The cost increases a lot. But you can start online business with less money too. You can also start this work from your home and you do not even need to keep much staff. After knowing the process of doing business online, you can set up a huge online business either alone or with 2-4 people.
Global Reach:- The biggest feature of online business is that you can reach any corner of the world through online and sell your goods or services without any hindrance.
Fast Processing:- As your experience increases in online business, you become efficient in your work. And gradually your way of working starts accelerating. Because you do not have to go to the market to bring or sell physical goods by yourself, all you have to do is order goods online and browse online to sell your goods. The courier company handles the rest of the delivery.
Increase in Sales:- As we have explained earlier, through online, we can easily reach any corner of the world and sell our goods. Due to our customers all over the world, the sales of our products are also high. While talking about traditional business, in that we have our customers within a radius.
Time Flexibility:- Like in traditional business, you do not need to sit on your neck for 10-12 hours. You can give time to online business according to your convenience and choose the time according to your satisfaction.
In this article “THE ULTIMATE GUIDE TO SUCCESSFULLY STARTING AN ECOMMERCE BUSINESS” we have learned so far about What is E-Commerce and what are the benefits of e-commerce?
Now before starting an online business, it is very important to know some things in order to avoid having problem in the nearest future. So let’s know the important key points we really need to know about Ecommerce business.
First of all, You have to decide whether you want to launch your own website (Online Ecommerce Store) or sell your products online on marketplaces like Amazon, Flipkart, Jiji, Jumia, Myntra, Shopclues Etc. If you know this, then it becomes easy for you to create an initial budget for doing business.
I will explain to you the advantages and disadvantages of launching your own Ecommerce store and if you decide to sell products on the Marketplace website, then what are the disadvantages and advantages so that it will be easy for you to decide which one to go for.
Should I start my E-commerce business by launching my own website or selling on Marketplace websites?
Owing an e-commerce website: If you start a business with your own online store, then it can be a very profitable for you in the future, but in the beginning you have to invest more time and money in it.
First of all, you have to develop your own e-commerce website, which costs around $300 – $1500 (you can hire me if you need an ecommerce website, call or Whatsapp +2347033771701), then you have to market your online store. You can also use social media for marketing which is absolutely free but for quick results you have to take paid service. In which your cost increases further.
Once you have created your own online store and market it well, now you can earn good money from your online store.
Marketplace Website: If you decide to start your business with the help of Market Place Websites like Amazon, Jiji, Jumia, Flipkart, Myntra, etc., then your initial cost will be very less as well as time is saved.
In this, you do not need to create any kind of your own website nor do you need to do any kind of marketing. You just have to complete the registration process on the Marketplace and after some time, after the verification of your document by the Marketplace, you can upload your product on the Marketplace website and start your Ecommerce business, which hardly takes you 3-5 days.
Starting a business with Marketplace is easy and orders are also received on your product, but if your product is not engaging then your profit margin here becomes very less.
Due to high competition, you cannot keep the selling price of your product according to you. If your product is not different from the rest of the seller then it becomes difficult for you to get good margin on your product.
Another point is that if you decide to sell your products on Market places, a sum amount of money or percentage will be deducted from every goods sold, which will lead to deduction in profit margin.
I am not demotivating you at all, but before starting a business, it is very important for you to know all this so that you can understand all the necessary facts and steps in order to be successful in the Ecommerce business and increase your sales. If you know all the things in advance, then you will be able to choose the product well and earn profit.
If you want to start your business with Marketplace, then you have to keep this things in mind that you should select a product that is unique, slightly different from the rest and the demand for that product is high. If the product is unique then people will like and According to you, you will also be able to decide the price of that product so that you can get better profit on that product.
Now you must have read many things about how to start an e-commerce business. Open your own online store or sell your goods on the popular e-commerce website already available in the market, you can also decide considering your budget.
Now let’s talk about what will be the next process to start an online ecommerce business
Product Research:- Now you have to select the product. First of all ask yourself which product do you know more about. If you have good knowledge about a product, then it will be beneficial for you to sell such products. Because you already know that what is the demand of this product in the market and how beneficial it is for the customer, as well as you can get a good idea of what can be improved in that product. You can make that product different from others.
And if you do not have the information about the product, still do not worry, you have to look for the new product which is in demand in the market, the customer needs that product. You can also use social media for product research. By getting the customer to test their product for free, they can know about their behavior by taking that product so that you have deep knowledge about your product.
Product Source:- After making product research, you have to get information about your product source, in which market your product is available. And if you buy the product from that market, then what is the cost to you. If you want, you can order your product from out of station or out of country also but before finalizing any deal, take all the information about the seller.
Let me tell you that there are some B2B websites online like Uddan, Tradeindia , Indiamart from where you can order goods in wholesale.
Packing Material:- After the product source, it is the turn of the packing box. Packaging plays a huge role in business. If the courier company charges money according to the weight and size of the packet, then accordingly you should get the packing box prepared so that the quality of the packing box is also fine and not too full. So you should talk to the courier company in advance that how much will be charged for which state.
Contact to Courier / Logistic Company:- If you are selling your product on the Marketplace, then you do not need to talk to anyone else for the courier service, because the courier service is available to you only through the Marketplace website. is provided. But if you are doing business from your own e-commerce website then you will have to talk to the courier company for delivery of the product to the customer.
Every courier company has different charges. So you should see which company is better for you, which courier company is providing good service at low cost, as well as talk that if the customer returns the product, then what will be the cost of bringing that product. , and in how many days will that product deliver to the customer and if any product is to be returned then in how many days will that product deliver to you.
Registration on Marketplace Website:- If you want to sell your product on Marketplace, then you have to first register yourself on that Marketplace. One thing to note is that there are many popular websites that ask for GST number for registration, such as if you register yourself on Amazon or Flipkart , then you have to submit a copy of GSTIN along with other documents. So take the GST number before registration.
When you complete the process of registration and if all your documents are correct, then the verification work is completed within about 3-5 days of registration. After that you can sell your goods by uploading the image and details of your product on the website.
In this article, we explained to you the whole process of how to start an e-commerce business from beginning to end. Now you can easily start your online ecommerce business.
If you have any kind of question or suggestion in your mind, then definitely write your questions and suggestions to us through comment or via email in Contact Us. We would be very happy to assist you.