Selling physical products or in other words an online retail business requires patience, perseverance and the right online tools. Shopping experience is very important because this is how you will earn repeat customers and promoters.
The biggest difference between selling physical products online compared to a physical store is the market reach. While a physical store’s clientele is mostly limited to its location, cross-country transactions are possible with an online store. The only market limitation for cross-country transactions is the availability of shipping methods.
Online retailing also needs less manpower. Sometimes, everything can even be done by one person. From the point of purchase, all a seller needs to do is pack the item, contact the carrier and have the item picked up for delivery to the buyers. The only time extra manpower may be needed is when orders are too many.
WHO SHOULD START SELLING PHYSICAL PRODUCTS ONLINE
Whether you manufacture your own goods, or you want to venture into buying and selling, it would be advantageous to sell your items online especially of you cannot afford to maintain a physical store. Furthermore, if you want to do this part time and still maintain a 9 to 5 job, online retailing will fit into your schedule.
HOW TO START AN ONLINE STORE TO SELL YOUR PRODUCTS
You need to start with the products that you want to sell. If you are starting from scratch or you do not have your own products, think of what product line you want to have, look for wholesalers and resell them.
Once you have a product line, think of a name for your store. It should be catchy, easy to remember and gives an idea of what your store is all about. Next thing on the list is domain name, hosting and web design.
For domain names, it is advisable to use NameCheap. For hosting and web development, you can subscribe to hosting platforms like BlueHost and Hostgator that offer web design and management as well or you can go with web design tools like Wix, Shopify and Weebly that provide hosting as well.
Your website should have an inventory that gets updated automatically, a shopping cart for buyers, payment platform, shipping options and contact form and merchant account.
When you are ready to launch, you need to have marketing campaigns like SEO, social media marketing and viral video marketing.
Finally, a mailing list is very important. Repeat customers will provide a bulk of your clientele.
EARNING POTENTIAL OF SELLING PHYSICAL PRODUCTS ONLINE
Compared to a physical store, you have very low overhead which consists of the inventory of products, web development, and subscriptions for your website like hosting, domain name, and online marketing tools. All the digital subscriptions needed to maintain your store would cost less than $1000 a year. The inventory of course would depend on what you are selling.
It would take less than a week to create your storefront and a month to get results from the marketing campaign. While part time sellers could make less than $1000 a month, full time sellers can earn thousands monthly.
SELLING PHYSICAL PRODUCTS ONLINE AS A PROFITABLE BUSINESS MODEL
Selling through an online store gives flexibility, requires less time to maintain, and lets you reach a wider client base. The cost of maintenance is low while the potential to sell is very high. To learn more about building an online store to start selling physical products online, click on the blueprints below.