Starting your own ecommerce business can be a great way to make money and be your own boss, but it also comes with its own set of challenges. The fact is that starting any kind of business is hard work. Even though some people see the internet as a get-rich-quick scheme, standard business principles still hold true.
So, what type of ecommerce business should you start? There are a number of different options to choose from. Here are five ecommerce businesses ideas to get you started:
Ecommerce Business Ideas #1: Online Food Business
From soup vendors in ancient China to Aztec food markets, there’s a reason selling food has existed for thousands of years. Food is a primary need, and where there’s a need, there’s an opportunity to profit.
Starting an online food business is like starting any other type of business. There are trends to be aware of, niche markets to target, and materials to be sourced (in this case, they are ingredients).
However, there are several differences when launching a food business: You’ll need to pay more attention to your manufacturing area, follow laws and regulations regarding your product, and keep tabs on its perishability.
Success in the food business takes more than being able to cook or bake a decent meal.
Not only can the process feel overwhelming, but starting a food business also comes with a significantly higher failure rate. Around 60 percent of restaurants and food-related businesses fail within the first year of operations.
Modern technology has given the food industry both advantages and drawbacks. While food businesses can save significant money by operating online and ditching real estate costs, technology has made publishing dubious complaints easier.
“Now, you’re one bad lasagna away from wallowing in the depths of Yelp hell. And in a world where buzz is everything, nothing spells trouble like the buzz of bad service and dodgy lasagna.”, says restaurateur Tim Love.
Despite the challenges, launching an online food business is a fulfilling and amazing way to earn from your passion for food.
Ecommerce Business Ideas #2: Launch a Dropshipping Store
Contrary to popular belief, you don’t need a warehouse full of inventory to start a business. Dropshipping is an excellent way to launch a business on a shoestring budget.
You can quickly get started by sourcing a pre-existing product from a supplier and having them handle things like packaging and fulfillment.
The process lets you avoid many roadblocks that could otherwise prevent you from launching your own ecommerce business.
More importantly, it reduces the risk of discovering that your product has no market after placing a large order with a manufacturer or supplier.
Ecommerce Business Ideas #3: Sell Clothes and Accessories Online
Whether you’re a professional fashion designer starting your first fashion line or simply a fashionista at heart, an online fashion store might be a great way to turn your creativity and skills into a career.
Starting an online clothing store is a very lucrative business with a $90 billion annual revenue. Jane Vyshnova, CEO of ecommerce development company Dinarys, estimates that the average retail business owner earns anywhere from $23,751 to $140,935.
The first step is to find your niche. The fashion industry is huge, with a plethora of brands, each with its distinct style and niche. It’s important to find and stay to your specialization. This will help you develop a product line that resonates with your target market and in building a strong brand.
You need to decide whether you’ll design or source your own products. You could buy products from wholesalers, design them yourself and have them manufactured, or design and sew them your own in-house.
Most importantly, you will need to market your fashion brand to your target customers. There are several ways to market a fashion business, including social media marketing, paid search advertising, content marketing, influencer marketing, ecommerce ads, and email marketing.
Ultimately, you should choose the method and which marketing channels are best for your online fashion business.
Ecommerce Business Ideas #4: Sell Educational Courses Online
Selling online courses is a booming market. The eLearning industry is predicted to surpass $325 billion by 2025, with a 5 percent growth rate annual growth rate. It’s no wonder that so many online instructors are earning six-figure incomes.
Like them, you could also find success in an online business by teaching your previously gained skills to others.
Any skill can be turned into an online course. There are online courses on business skills, personality development, math and science, photography, music and dance, religion, and so much more.
To make a profitable online course, you will need to focus 90 percent of your time on promoting and selling it. Having a strong online presence, an active social network or an email list is helpful but not essential.
Ultimately, the more people are aware of your brand and the courses you offer, the more money you’ll make from sales.
Ecommerce Business Ideas #5: Sell Your Own Books
Ever wanted to be an author? Now you can! Thanks to the rise of self-publishing, anyone can publish and sell their book online. The best part: You could potentially earn thousands per month from sales and royalty checks.
There are dozens of websites that will help you quickly get from draft to market. Amazon Kindle Direct Publishing, Lulu, and BookBaby are some of the most popular book distribution and Print-On-Demand platforms.
Now, becoming a best-selling author isn’t a walk in the park. There’s more to it than simply writing and publishing a book. Marketing plays a huge part in the success of a book. This is especially true for self-published authors.
The popular belief (at least for self-published authors) is you will spend 10 percent of your time on writing and 90 percent on marketing to launch a successful book campaign.
It can take years before you establish yourself as an author with a decent author platform and dedicated readers. Be prepared to go into this business for the long haul.
However, if you do your book marketing campaign right, you could easily become an Amazon best-selling author within a year.
There are many types of ecommerce businesses you can start. The five ecommerce business ideas discussed in this article are just a few of the possibilities. It’s important to choose a business that fits your skills and interests and that you have a good chance of succeeding with. Do your research, make a business plan, and get started today!
Are you looking for the right people to join your new ecommerce business? Jarvis Cole can help!
Jarvis are the global leaders in ecommerce recruitment and ecommerce hiring services. We have successfully sourced and recruited expert ecommerce professionals for businesses of all sizes, ranging from startups to big corporations. We help you find the right candidate for the job.
Get in touch with us today, and let’s work together to make your ecommerce business the success it should be.