As people are buying more online, small and medium-sized businesses are capitalising on this growth. Nowadays, there are thousands of e-commerce stores, but not that long ago this market was limited. In order to be classed as an international business, a company would need to have physical outlets in at least two countries. However, now, almost anybody can develop an international company overnight. With this in mind, here we explore some of the positives and negatives of running your own e-commerce store.
What are the positives of running your own online store?
Cost to get going is low, all you need to set up your own ecommerce store is time and a bit of knowledge. Start-up capital is not really a requirement, but the more money you have to back your store with the higher chance you have of it being successful. However, many people have developed a great store without spending any money at all. Easy e-commerce solutions available with developments like Shopify and Volusion, running your own e-commerce store is simple. These hosted e-commerce platforms have been designed so that even novices can get a self-sufficient store online without any issue.
What are the negatives of running your own online store?
Almost anybody can do it, one of the main positives of being able to run an e-commerce store is also one of the biggest negatives. As everybody with an Internet connection and a computer can get their own e-commerce store online, the market has been saturated. Therefore, unless you have some great contacts, a unique product or service, or a selling point, standing out will be very difficult. You are responsible for things you have limited control over, being your own boss can be great, but dealing with the pressures is not. If your wholesaler does not have your item, or your shipping is late you will have to take the blame even though it's a situation you have limited control over. As you can see from the above, while there are some minor downsides, if you have the drive, a good idea and the right help there is no reason why you cannot develop a successful e-commerce store. For more information on how you can set up your own store, get in touch today with me on 0121 794 0200.