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 :

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