How to start an online shop! 

In this day in age, people have multiple jobs to try and bring in extra money. Many people have a side hustle to add to their household income, and this method of earning is more frequently becoming the norm. The average cost of living is rising for everyone, so why not turn to the internet to make money? There are so many ways you can use the internet to make money, so why not start looking at e-commerce. Selling this way can be through; reselling items,  dropshipping and through setting handmade items, but there are loads of items you can sell online. It’s not uncommon nowadays to see your friends selling through social media and you can do the same. Entering the world of e-commerce is not as scary as it first seems, so let’s take the plunge, as let’s face it every little bit of extra money helps. 

What do I sell?

You may be interested in taking the plunge, but you might be thinking ‘What an earth do I sell? I haven’t got any special craft talents or hobbies that I can make money out of.’ Here’s the thing, you don’t need to in the world of e-commerce. The first step is to decide what to sell or who you want to sell to. Do you want to own/ create your own selling platform or would you rather use a SERP API that links multiple platforms together to grow your business?

What do I need to start selling?

Before you start your own online shop you need to make sure you have funds available to begin your selling adventure. Starting an online business means you have less overheads and fewer outgoings as you can manage it from the comfort of your own home. 

However, you will need some money to get started. If you don’t have the money needed readily available then you will need to rely on business loans. These can be a lengthy process and you may not even be accepted for one. They are dependent on your credit score, if this is low then you will likely be declined. This is where ecommerce financing solutions could help you out, they offer advice and money solutions that are much better than going through a bank.

Next you need to decide on on a product to sell. Do you want to sell your own knowledge or do you want to sell tangible items? If you want to sell your own knowledge you may decide to create an eBook or create a course on about a topic you are knowledgeable about. Ebooks  are a fantastic way to start experimenting with e-commerce. There are multiple guides online that will support you in writing your first eBook, how you get it published and which sites are the best for you to start making money. 

Selling tangible items are slightly different. You have to decide whether you want to to make something to sell or if you have items you want to sell. You may decide that you want to start a  dropshipping company. This is where you find a product sold by somebody else and you link your selling site to their site and you make money from their sales. It’s a little bit more complex than just that but it might be something you are interested in. 

Accounts

What’s really important to remember is you must keep records of your accounts for tax purposes. If you’re selling on marketplaces such as eBay or Facebook marketplace you need to keep records of your transactions. Depending on how much you are earning, it might be an idea to employ a bookkeeper or accountant who can do tax returns for the business. 

Hopefully these beginners tips give you somewhere to start and your business takes off!