While starting an online store is a tempting idea, the reality of this project may be harder than you think. By focusing on your strengths and capabilities you will find that the internet offers you the opportunity to make a good amount of money without having the expense of a brick and mortar shop.
Here we have put together a selection of ideas for online stores which are easy to set up with little or no initial cash outlay. The businesses below allow you to choose whether you will work full time or part time, and also leave the decision to you as to the hours you will put into your work.
1. Affiliate Marketing
You will need a personal website to do this. The larger the following on your site the better you will be at this. Basically you are earning a commission for selling someone else's products. Some companies will provide you with their products free of charge while others will require that you buy stock first to resell. Some popular sites for the affiliate program are Clickbank, Amazon and Amway.
2. Resume/Cover Letter Writing
Most people know that a good cover letter and resume will get them a job, but very few actually know how to produce an exceptional letter or resume. You will need to research the appropriate vocabulary to use for different job applications, develop a style which emphasizes the client’s achievements without appearing to be 'too good to be true.' You may also be able to offer your services to work on Linkdin profiles.
3. eBook Author
Writing a book has never been easier and self publication has become something that writers can now achieve in the comfort of their own home. You can publish your own book on any subject you like from cookery, gardening and dog training to website building - and everything in between. There are plenty of marketing tools available to ensure your book will sell.
4. Handmade Craft Selling
If you are handy with a sewing machine or crochet hook you may be able to make money by selling your goods online. Esty and Artfire are two Ecommerce store ideas which you will find invaluable if you are able to produce a steady supply of products. There are start up costs as you will need to purchase supplies and make your articles first but if you are able to turn orders around quickly you will be able to make a profit.
5. Sell on eBay
Ebay is an online store idea where you must find a niche. Your profit margin should be high and you should take into account your competitors and therefore aim for low competition. You will need to find a good supplier who will deliver your goods to you in a timely manner. Unbranded items are easy to import and have a good profit margin.
6. Drop Shipping
You will need to set up your own website or selling platform such as Shopify to do this. You research a drop shipper, pick some products that you think will sell, and advertise them on your site. Some drop shippers will ask a fee to sign up with them. Be sure you research the company as they will be responsible for sending the goods to your client. This is a great way to create a stream of income on the side.
7. Sell Domain Names
Domains are the internet equivalent to real estate. You should think of them as an investment. Buy low and sell high. Be selective on the names you buy, some names will be more valuable in the run up to an event which it is connected to. When you decide to sell, try to work with the consumer rather than an agent as you will receive more profit that way. This is certainly not a turnkey opportunity, but it can provide a great income for you.
8. Ghost Writing
Here you will be provided with the outline of a piece which you will then write yourself in someone else's name. You will relinquish all rights to your work after it has been accepted. This type of work may apply to different fields such as articles, books, blog posts and even scripts and lyrics for songs.
9. SEO Consultant
Your job will be to ensure that a client gets as much traffic to their website as possible. You should be familiar with optimizing a website and also be able to do keyword research in text and headings which are used on the site. You will need to be able to optimize the articles as well as descriptions to the fullest extent.
10. Collections Agent
This is a fairly challenging job as you will be dealing with clients who have unpaid bills or outstanding loans. There is a certain amount of contact with people to discuss how a debt may be collected and arrange payment schedules. Sometimes you will need to locate unwilling debtors using credit bureau information. There is software readily available for this using Collect and Collect One.
11. Listing or Creating Ads
Many small businesses will want to place ads for their company on sites to promote and sell their products. You will need to be familiar with sites like Craigslist and Gumtree and be able to write attractive ads which will sell their products. You will need to be able to relist as needed and add or remove items.
Conclusion
Most online store ideas require little or no money to start up. What is important is that you do your homework. The internet has plenty of information where you can do research on your chosen business. This research is especially important when it comes to finding a product which will not only sell well, but also sell at a high a profit. The eCommerce business can be extremely lucrative as it cuts out the overhead costs almost entirely. Your running costs are minimal and most online store ideas can be implemented from your own home.