Hello Friend,
Welcome back again to our discourse on online business models. This is a good place to start especially if you are considering starting making money online. Taking sometime to consider the various options available online and considering them in relation to your strengths and weaknesses will save you a ton of time and effort.
This post is a follow-up of the previous article which enumerated the various business models available online. If you have not yet read the first article, please read it here Online Business Models.
In the subsequent posts, we will be delving into each of the business models in details.
Today, we pick on the E-commerce Store Business Model or simply Online Retail Store Model.
Today, you can sell almost everything online, from physical products to services and support. More than ever before, it has become increasingly simple to set up your own e-commerce website and personalise it as your own brand. You can use such online store to sell your hobby or craft or anything you can lay your hand on.
The good news is that most major wholesalers today provide drop shipping service, which means that you will not have to purchase and store expensive inventory, leave alone handling logistics and service delivery to your clients.'
Drop shipping allows you to sell products first, then, once you have been paid, you order them from your supplier who posts them directly to the customer for on your behalf. Isn't that cool. Come to think about it, It is like you get paid for offering brokerage services, connecting the buyer and the seller.
Challenge is that usually the margin in this business model are small compared to Affiliate Marketing However, although the margins are small, the risk of doing business is reduced making this model very attractive especially if you can scale up the sales.
There are many potentially lucrative niche markets for you to enter but it is advisable for you to research your market first to make sure that you do not get it wrong.
We have more information and resources fro you if you are interested in this business model. Just do one think to be able to access them - Sign-in to our mailing list so that we shall be able to provide them to you.
Thank you for taking action and see you on the other side