Fast and Comfortable
Does the idea of driving 30+ minutes to the nearest mall and spending telegram gc philippines hours browsing the shelves drive you crazy? Then you're not alone. The ability to quickly browse thousands upon thousands of different items from the comfort of your home is one of the main reasons why online shopping has become so popular.
If you're just starting out, here are some business tips for small business owners: To run a successful online store, you need to make the shopping experience as easy and quick as possible, and a 2-step checkout process should be standard (follow this business tip to make money now).
Low installation cost
Saving money is the number one business tip, but one of the hardest to follow! Setting up your own online store couldn't be easier with so many business tips on the internet and plenty of business advice on TV. You can set one up in a few minutes using platforms like Shopify or spend a few hours creating one using WordPress.
A basic e-commerce platform like Shopify will cost less than $50 per month, while WordPress is free, but for more advanced options, you'll have to pay for plugins. Also, don't forget to consider business formation costs when budgeting for your startup.
Alternatively, you can sell through platforms like Amazon and eBay, which don't require you to set up an online business and are free to use. You can check out different business advice websites that will show you exactly how to build your eCommerce store .
Lack of overhead
Let's face it, opening a physical store is very expensive and overspending is always bad business advice. With a physical store you have to pay rent, insurance, store renovation, security and a lot of other expenses. With an online store none of these costs exist.
This means that online stores have higher profit margins due to significantly lower operating costs, which is why most modern business advisory books and consultants recommend new business owners to start with an online store.
Cons of a retail store
While brick-and-mortar retail stores are still popular, they have suffered a decline due to the rise of e-commerce, and many offer business advice for not opening them. Let's look at the disadvantages that have led to a move away from brick-and-mortar stores and why all the online gurus are offering e-commerce business advice:
Very expensive
Business advice gurus always preach cost avoidance. Well, running a brick-and-mortar retail store involves a lot of expenses that go against the common business advice of saving money. These expenses include electricity, water, rent, insurance, payroll, legal costs, and much more!
Because of these costs, all business advice says that it is harder to make money with a brick-and-mortar store and that you need more start-up capital to start the business. Business advice organizations will recommend that you create a comprehensive budget that takes all of these costs into account before opening your brick-and-mortar store.
Limited growth potential
With a brick-and-mortar store, your customers are limited to the people who physically come to your store. Therefore, the best business advice you can rely on is to attract people who drive by or walk past your store. This makes it difficult to grow your business because there are perhaps hundreds of thousands of people who would love to buy your products, but they live in different cities or even countries.
Business advice for startups always says that if you want to grow your business as quickly as possible, you need to be able to reach the maximum number of potential buyers through advertising and word of mouth. However, this business advice cannot happen overnight.
Hiring store employees
Hiring and training store employees is not only expensive but time-consuming. And if you know common business advice, you know that time is money and wise business advice always preaches keeping things simple.
When hiring store employees, businesses must also follow a variety of different laws, and failure to do so can result in huge fines. Store employees must also maintain the physical store and perform tasks such as cleaning, inventory checking, and security.