A guide to setup your Ecommerce business

The Ecommerce business industry is rapidly growing and you will see less brick and mortar stores opening in the future. Shopping online used to be done as a convenience before and was seen as a luxury but now it’s seen as a necessity especially since the pandemic. In 2014, global Ecommerce sales were $1.4 trillion and these numbers have increased tremendously ever since with projected sales of $6.8 trillion being predicted in 2023. Ecommerce services have been on the rise ever since and are only going to increase in the coming years. Several individuals want to know how to start an ecommerce business and that’s what we are here to help you with. In order to start an ecommerce business, it’s important to have a goal which can be measured and bring about profits. It’s important to sell a solution rather than a product which adds value to the market.

The first step is to research the various different ecommerce business models and this is highly necessary as there are several structures for different types of business requirements. For example, is your business serving other businesses (B2B), directly to consumers (B2C), consumer to business (C2B) or lastly consumer to consumer (C2C). Once that’s decided, the next important thing is to decide inventory management and sourcing your products. Dropshipping is one the business revenue models and the way it works is you set up shop with all the products and the money is processed through that site but the rest is up to the supplier which frees you from managing the stock, inventory and shipping. But choosing an ideal supplier is one of the most important factors.  Dropshipping is one of the most ideal methods to choose in an ecommerce business. Another type of model is Wholesaling and Warehousing which entails managing stock and inventory and requires a large investment in the beginning. Products can be pushed on Amazon.com, noon.com, Ebay and other platforms. There are several other models and you need to figure out which fits your business. 

The second step after identifying your business model, is to establish your branding and target audience. To make that process a little easier, you can use Facebook to find your target audience and even know how many people you can target. If you already know what your product is then it’s time to invest in it but evaluate it very carefully. Even if you choose a dropshipping model it’s important to test the waters so you can get an idea of any potential problems. 

Lastly, register your business, pick a store name, and fulfil all the legal formalities and your final business plan! We at Huckster can help you with your end-to-end ecommerce creative website design and ecommerce solutions with domain and hosting solutions, marketing plans, launching and also scaling your e-commerce business to its best.