Should You Start Your Own Online Store?

I am writing this article to share some advantages of starting your own online store.

One advantage to starting your own online store is it offers you fewer to no seller fees.

Most people or entrepreneurs are well aware of the fact that to sell on eBay and Amazon – you will have what they call “seller fees.” You have to pay every time you make a sale. Both eBay and Amazon will charge you averaging around 10-15% of the finale sale price in fees.

Sometimes the fees are more and sometimes less. Depending on what you are selling. Nevertheless, this could hurt your pocket, especially if your profits aren’t very big in the first place.

So, you see having your own online store you won’t have to pay these “seller fees”, you can pocket more on each of your sales.

Of course, running your own online store will not be free! You will have to pay a small transaction processing fee to get started and this all depends on what service you used to run your store; but it probably will be 2%, which is peanuts compared to the fees on eBay and Amazon.

So, you see one of the biggest reasons people decide to start their own store, is the cutting back on seller fees.

A Store Means Less Direct Competition

Let’s face it, selling on eBay and Amazon is a very competitive market. Even if you get some customers who are looking at your listing, there are so many other ads all over the pages selling the same thing

Amazon promotes other products in several places on the page.

On Amazon when multiple sellers are selling the same thing, only one seller will bet into the “buy box” to sell and it may not be you – this is how competitive the market is.

The marketplace has so many buyers comparing you to the competition. Most of the time, it’ll be the lowest price that wins; this can make other sellers eat their profits in order to stay in the competition.

eBay makes it really easy to compare prices listings.

But, if you have your own online store; there are no other sellers that will be competing for your customer. They will only see your products. This means that you can usually charge higher prices than you could in a very competitive marketplace.

A Store Gives You Control Over/How you Want Your Store to Look

If you are selling on eBay and Amazon you can’t add whatever colors or designs that you want to your listings. When you have your own online store this is another advantage you have over the general marketplace because you can design you store the way you want it, you have complete control.

You can also control your increase in conversion rates. It has been a proven fact that using countdown timers can increase your conversion rates by almost 3 times and exit pop-ups can also help to convert as well as up to 35%.

All of this can help you establish your own style for your store.

On Amazon or eBay most of the people don’t care about who is selling them products. This makes it very difficult to create your own brand. As far as they know everything is sold by Amazon; when you have your own store you can add whatever you want to be your own personal brand. From the time that they find your store online until they checkout. The customer will experience your own personal brand; even on your packaging and labels.

Your Own Brand name

Statistics show that 77% of purchase based on a brand name. So, start building your brand as soon as possible; and it will show in your sales and revenue in the future.

Email Marketing Is Very Effective

Customers who have bought from you in the past are more than likely to buy from you again, so sending promotional emails can be very effective and can skyrocket your sales in your business.

But when you’re selling on other market places, you usually don’t have access to your customer’s information.  You don’t get their email addresses.  Amazon will give you their postal address, they forbid you to market to them.

When you have your own store, you have access to all these details.  You can compile a list of previous customers and send them newsletters about promotions, new releases, gift ideas for special occasions.

Consumers who receive email marketing spend 83% more when shopping.  Their orders are 44% larger.  They order 28% more often.

Your investment for $44.25 on email marketing will be a return for $44.25 for every dollar investment.  Email marketing will help your business grow and increase in revenue too.

Your Store Can be An Extra Sales Channel

I have given alot of comparisons in this article on selling and purchasing on Amazon versus having your own store.  I am not suggesting that you delete your eBay and Amazon listings.

And I am not saying that you should not sell on eBay or Amazon.  These market places are great ways to get started, and even if you decide toopen an online store you can continue to sell on eBay and Amazon.

Your Online Store Is an Asset You can Sell (One Day)

Of course, when you are just starting your business you are not thinking about one day selling your business.  But, no one knows the future, and maybe oneday you will decide that you don’t want to run your online business anymore.  So, what do you do then?  Do you just shut down your whole business and move on?

No Way!

If you have spent time and money building your business, you are not going to just throw all of this away!  You will probably want to sell it.

Here’s the problem:  If your business is based on a Amazon or eBay platform, then it would be very hard to sell.  On these market places -you don’t really have a solid asset to sell – just your reputation, your feedback, and maybe some supplier relationships.

You won’t be able to sell it for as much as if you had an actual website with a domain name alot of visitors, customer list and social media accounts.

When you build your own online store you have something that you can sell for a profit.  So, if you decide to ever close up shop, there could be a nice payday at the end.

As yo can see, there are alot of benefits to running your own online store.  So, where do you go to sign up for one?  SaleHoo Stores. Here>>.Click Here>>>

 

 

2 thoughts on “Should You Start Your Own Online Store?”

  1. I never thought of using an online store as an extra sales channel. What a great idea! This is an avenue that I will be checking into. I am glad that I have found this information. It will be very useful for me to have an online store. Thank you!

Leave a Reply

Your email address will not be published. Required fields are marked *