@MizLhaine
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Starting to Sell Online: How much Capital do you need?
Seeing the potential and opportunities of online selling, some people would really want to join the bandwagon of online sellers. But one of the questions one should be asking himself/herself is how much Capital do I need to start an Online Business. Well, the answer would depend on what are the goods you want to sell and how much are you willing to invest in the business venture that you would like to start. There are those who just started with Php 500.00 / $10.00, and there are those who started with Php 5,000.00 / $ 100.00 and even more than that.
Let me take you to the possible **factors** to consider for you to be able to decide on the Capital and starting a business as a whole. **Think on what will be your line of business**. Before you start on the online selling, think first of the possible goods and products that you can sell. It could be handmade, it could be RTW, preloved(ukay2), surplus goods, craft materials. Sometimes, it would be good if you are offering different products from the others. When you can decide on the line of business you can have an estimate on how much you need for a start. **Who are your target market**? Since there are already many sellers, think of who will be your target market. Who are the people that might be interested with your products. This question is relevant to the first item. **What is the mode of delivery?** Will the item be delivered or picked up. If delivered you can set a minimum amount before you will have "free delivery" or you ca add a minimal delivery charge. If the item will be shipped, decide on the courier. **Ask yourself, "Do I have time? ".** This is one of the most important question, one should answer. Selling online needs time and patience. From ordering, sorting, taking pictures, doing live selling, packing, delivery-all of these need time. If you cannot give time for such activities then think if online selling could work for you. There are those who are still working on 8:00-5:00 jobs and still manage to do business at night. It's just a matter of time management.
My Personal Experience I have tried selling different products. I have tried selling craft materials, journals, planners. I only have Php 600.00/ $ 12.00 as capital. I ordered through shopee and availed discounts for shipping. When it arrived, I take pictures and posted it online. When there are buyers I offer free delivery. At the end of the selling I got Php 200.00 as my profit. I have also tried ukay selling. I bought an ukay bale which cost Php 6,000.00-12,000.00. The challenge in Ukay selling is the sorting, taking pictures and delivery of orders. It is also risky. Risky because you don't know exactly what's inside the bale. I will share with you my ukay-ukay selling venture in one of my articles soon. The profit ranges from Php 00.00 to 5,000.00. Why zero? because there are ukay bales that are not good, instead there is a deficit. CONCLUSION Online selling is another way of having an extra income. But one should not only consider the capital but also the other factors such as line of business, time, target market and the risks. But whatever, venture you would like to have, think about it many times, of course, we don't want that we do business and have a deficit at the end. Note: *The factors I have shared are through my personal experience and I am not expert in finances and in business.* **How about you? Have you thought of selling online? If you are an online seller, how much capital you use for a start? I would love to read it in the comment section.** **Links :** https://read.cash/@MizLhaine/academe-industry-partnership-made-possible-amidst-pandemic-900f1332#links If you have a passion in writing you are very much welcome in read.cash 👉**https://read.cash/r/MizLhaine** And if you want shorter messages, see you in Noise 👉**https://noise.cash/u/MizLhaine**
22 comments
I haven't thought yet of online selling as like what you've said, it needs more tike and patience. I also don't have much networks who I can sell my products, too. Hahaha. Anyway, I heard earning income is good in this field, so it's worth the stress.
Yes, it's need time and patience. Yes, the network also is important and the courage to take a risk. Income opportunities are there, stress are also present.
Diko naisip mag online selling. Para sa katulad kong di friendly sa personal at takot makipag usap sa tao, hindi bagay sakin yan. Mas prefer ko sa office sananhaha. Pero i know someone who tried this, cosmetics ata sa kanya ee. @ExpertWritter pasokk! Hahaha.
I also tried that. Being online seller is not easy po. I tried maging reseller at first tapos naging seller na ako ng sarili ko may mga nagbebenta din kasi na naghahanap ng reseller sa murang halaga lang ng benebenta nila. I advice, wag kayo mag rereseller sa mga may matataas ang presyo para makabenta kayo kasi kapag reseller din yung pagrereselleran mo, hindi ikaw ang kikita ng marami kundi siya. Mas maganda din kapag try mo mag benta ng mga Uso ngayon yung mga nauusong damit, pampaganda like rejuvenating.
I have tried na mag resell, I agree, kelangan mghanap din ng mga reseller na hindi mataas ang price kasi if mataas na, hindi ka na makapagtubo ng appropriate sa product. agree ako sa mga uso, lahat gusto maging maganda. ano yong mga products mo now?
Online selling kasi needs communication sa customer, PR ganon. hehe. natawa ako sa pgcall mo kay @ExpertWritter at ayan na nga nagcomment sya.
Kaya nga ee, ahahahahaha. At ayan pumasok na sya hahahaha
Yes, salamat sayo.
My husband and I started online selling/online mentoring to sellers way back 2011. We created a Facebook Group back then where we could help online sellers promote their stuff. So basically, it is not about money. To be successful in any business, you need to create a bond between you and your customers. Our capital? Ourselves. We created friends. As I always tell everyone, make a friend and you will make 100 times more. The rest will follow.
buhay paba yan sis? grabe ang galing zero interest!
Uu sis. Buhay na buhay. Isa sa pinaka unang Online Shop Group sa Pinas hehe.
ano kaya ito na group, makes me interested.
It's still up, sis but it's self-running now since I'm a full-time mom no and my husband works 18hrs/day so...
Oh I see. Need to prioritize talaga the family. But it's good that you have started it already and it could manage to self-run.
Yes, sis. goodluck on your online selling journey po.
Salamat, for now, hindi nastop din ako, di kakayanin ng time eh, maybe pag nakaluwag luwag na sa oras, babalik ako.
amazing naman...
Well, getting a comment from an online seller and mentor for almost a decade is really uplifting. Thanks for sharing this that successful is not just about money, its the about building bond with people and the rest will follow, of which is really true. When people find you reliable with your products and services they will surely always get back to you.
Indeed po!😊 In online selling, most of the time, it takes time and effort to manage such a kind of business. But its worth the risks, especially when you get the fruit of your labor.. Have a nice day ahead.😊
Yes, it's almost all jobs needs time and effort but you will be happy that you will get the fruit of your labor in the end. Have a nice day too.
I tried a couple of times pero and i do it part-time, you are right demanding nga sa time kya i have to stop, priority ko pa rin work ko para sa future heheh!
Yes, demanding talaga sa time, like ang tagal mo na matulog kasi mgsort ka pa, lalo na pag ukay and isell. Tapos wala na akong time for family pag weekend. I stopped it as well right now, kasi di na kakayanin eh.