There is a lot of money to be made from an online store if you know how to do it correctly. You can sell digital products, physical products as well as services and make money. How much money you make entirely depends on your SEO and digital marketing strategies as well as the kind of products you are selling.
You can create online stores in multiple ways:
eCommerce Marketplace: You can use existing ecommerce marketplaces to sell your products and services.
Premium ecommerce platforms: Build your online store by using premium ecommerce platforms like Shopify, Big Commerce, etc.
Open Source Platforms: You can use Open Source platforms like Wordpress, Joomla, Drupal to create your online store.
You can also do business in multiple ways.
Dropshipping: The products you sell will be fulfilled by others.
Print-On-Demand: You design products, but a print provider will create products for you and ship them to customers.
Digital products: You sell products that can be downloaded to your customers’ devices or the services that people can access through your store.
You can build your online store in five steps:
Choose a business niche (what do you want to sell).
Choose how to sell (through your own store, through ecommerce marketplace, etc.)
The build your store
Publish your products
Do SEO and digital marketing.
Start generating sales
If you want to build online stores, you have a lot of options available, for example, woocommerce, shopify, big commerce, Wix, Squarespace, Magento, Big Cartel, etc.
You can also create your ecommerce website from scratch but using premade solutions like the one mentioned above eases your work. Of all ecommerce platforms, woocommerce and shopify are the most used commerce platforms. Woocommerce has a 29 percent ecommerce marketshare, whereas shoify market share is put between 11 percent and 19 percent. The nearest contender is Magento with 8 percent market coverage.
If you compare the price, woocommerce will stand out because it is completely free. However, if you compare ease of use shopify is better as it is custom built. You will have to use woocommerce with wordpress. Therefore, in order to build woocommerce store, you will need a domain, hosting, install wordpress, add woocommerce plugin, and then start customizing your store. However, while building shopify store, all you need is a domain, pay the fees and your store will be ready in less than 30 minutes.
Even though woocommerce is free, you will have to install premium extensions and other plugins to run the store. There will be a lot of work to do. If you are a somewhat technical person, it will not be a problem but someone who has no knowledge of running website will have difficulty.
In order to start dropshipping, you need two things, one, a website to sell your products, and two, a supplier to fulfill the orders for you.
Finding the right dropshipping supplier is as important as building your droshipping store. Building a dropshipping store is just the first part of the drpshipping business, finding the dropship supplier is even more important because after all supplier is the one who fulfills the order.
Here are some options:
Aliexpress: This is the most popular choice for many drop shippers. Aliexpress offers good quality products and has a low price. However, shipping time is the issue. Most of the sellers are based in mainland China and shipping can take longer. However, there is a way to tackle this. You can filter your search by choosing the different shipping location that is most appropriate to you.
DHGate: Just like Aliexpress, DHGate offers a wide range of products for a cheaper price. Interestingly, you can choose shipping warehouse in the United States offering 3 day delivery. If you want to sell to US customers, this can be a great Aliexpress alternative.
C G Dropshipping: THs is an interesting platform if you want to use social media for dropshipping. They allow you to find products trending on TikTok, Amazon Etsy, Ebay. Shopify, etc. They offer different warehouse options such as Chin, Indonesia, Thailand, Germany, Australia, and the United States.