PublisherSol Minion Developmenthttps:https://assets.solminion.co/logo.svgPublished Ecommerce small business

Whether you’re starting from the ground up or turning your existing brick-and-mortar business into an eCommerce store, you will need to build a solid foundation for your online store. Oh, and don’t forget that business plan!

When we begin planning your online store, we will look at the following:

Now that you’re brain’s working on these, let’s take a look at what comes next.

What Next? The Online Store Launch

If you’re ready to start moving down the road to building your online store, you will need to decide what kind of store platform to use and what types of things to budget for. Let’s go over those.

Custom versus Existing Marketplaces (Amazon, Etsy, Shopify, etc.)

You have two basic options to build out your online store: a custom solution from a software developer like Sol Minion Development, or a ready made solution like Amazon, Etsy, Shopify, etc. Both have their advantages. Let’s take a look.

Choosing between the two is like choosing your own concept versus going with a franchise. In the end, doing your own thing can produce the greatest sense of accomplishment and financial rewards.

How to Budget Wisely for an Online Store

Whether you go with a custom solution or a hosted solution, there will be setup and development costs, as well as ongoing fees. There are also logistical costs and other costs of running an eCommerce business.

Here are some common costs associated with an online store:

Common mistakes when building out an online store

Taking your existing business online can seem like a no brainer -- no rent, no hours, reduced inventory (i.e. frozen cash). Those are all true, and building an eCommerce solution is often a great way to go. But don’t let that cloud your vision. Avoid these common mistakes:

The Bottom Line with eCommerce

Running a successful online store is all about planning and analysis. Find your niche, and place the best products out there through a well-targeted marketing plan. Build out good reports that keep you on top of your key metrics, such as your Sales Conversion Rate, Cart Abandonment Rate, Average Order Value, and others. And plan. Be ready for specials, events like Black Friday, and any changes coming from your vendors.

You will need to allow your site a good three-to-six months to get up and running -- indexing from Google alone can take 6-8 weeks. Give it time, don’t make rash decisions, and let the data help you make informed decisions. Do all of this while avoiding the common mistakes, and you’ll enjoy the benefits of a well-run online store.

Ready to open your store?

Contact us today