Do you dream of launching a business and becoming your own boss? If you hope to get started on your journey into entrepreneurship, running a store could be the perfect way to do this. But, the big question is should you become an online retailer or open a brick-and-mortar store? Running an e-commerce store has many benefits. Here are some reasons to consider launching your business online rather than at the mall.
Lower Running Costs
One of the largest costs involved in running a physical store is the financial commitment of owning or renting business premises. The money needed to keep your business premises open can put a lot of pressure on you. In addition to the cost of rent, there are also the extra costs of staffing your business, paying to fit out your premises, and keep it looking tidy.
When you run an e-commerce site, your business has the chance to grow organically without the pressure to cover the additional costs involved with a brick-and-mortar store. The reduced costs of running an e-commerce business enable you to take your venture at a slower rate and learn as you go without too much commitment.
When you run a physical store, you will be expected to keep regular business hours and advertise your opening times. You must stick with these times and keep your store staffed to provide the best service to your customers. One significant advantage of e-commerce is your customers can buy from you 24 hours a day, seven days a week, without you needing to be there to serve them.
Expand Your Reach
When you open a brick-and-mortar store, you need to consider factors such as location and the amount of footfall the shop will receive. In contrast, an online store enables customers to shop from anywhere in the world for your products, and distance stops being a barrier to achieving sales.
Increased Options for the Future
When you have been running a successful e-commerce store for a while, you may feel the time is right to take on a new challenge and use your entrepreneurial experience in your next venture. If this situation feels similar to you, you could feel reluctant to simply close your business and walk away, especially when you have invested so much of your time and effort into it. One possibility to consider is selling your business to a company such as https://www.thrasio.com/ to help you realize its worth and move onto your next project.
Plenty of Business Models to Choose From
There is more than one way to operate an online store. When you sell goods online, you can take your pick from a whole host of selling platforms and shipping methods. You could choose to get your orders fulfilled by Amazon, or maybe choose an alternative dropshipping method. If you prefer to be in charge of the entire selling and shipping process, you may like to store the goods yourself and arrange your delivery methods.
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