Want to start an ecommerce business? The Time is NOW!
Are you stuck at home? Or working remotely?
Opening an ecommerce business because it has never been more appealing. An economic crisis can break or MAKE a business. Government lockdowns and regulations are keeping the doors of retail stores shut, which is sending a BOOM to the ecommerce industry. UPS, Fedex and USPS delivery workers are on the run as the level of online shopping surges. There may never have been a better time in America’s history to start an ecommerce business.
So, what does it take to start an ecommerce business?
There are some things you should know before you start an ecommerce business. Whether you are sitting at home collecting unemployment or looking for extra income in addition to your remote job, you probably have some extra time on your hands. This article doesn’t go in length on any particular topic, but will provide a skeleton guideline on how to create a thriving ecommerce company:
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Pick a Product & Research
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Decide on the name of your business and pick a legal structure
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Get your EIN
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Apply and obtain business permits & licenses
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Pick an ecommerce platform & create your website
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Ship your products to an ecommerce fulfillment company
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Market & Network like crazy!
Pick a Product & Research
Choosing a product can be the easiest thing or the most challenging hurdle. Products should always be a solution to a problem. Carefully evaluate your product of its potential and demand. Once you decide on your product, do the research and find a reliable supplier.
Research everything you can about your industry, your niche. It wouldn’t be a bad idea to put a business plan together!
Check out business plan templates here
Decide on the name of your business and pick a legal structure
Decide whether you’ll operate as an LLC, S Corp, C Corp, or sole proprietor. Be sure to discuss with a tax accountant to fully understand the different types of legal structures available when you start your ecommerce business.
Get your EIN #
Your EIN # (Employer Identification Number) could be thought of as your business’ social security number. It’s super easy to register online with the IRS. Once you have an EIN #, you can take your formal letter from the IRS to the bank and they will help you open a new bank account for the new ecommerce business you created.
Apply for EIN on the IRS Website
Apply and obtain business permits & licenses
Pick a state to incorporate. Research federal, state, and LOCAL requirements for obtaining business permits & licenses when creating your new ecommerce company. Some cities also require you to pay a separate business tax.
Pick an eCommerce platform & create your website
Like all businesses, you need to set up shop, but as an ecommerce brand, your website is your shop. Thoroughly consider your websites design, palette, and format. You want to maintain an inviting, professional, and captivating page. Everything should be highlighted, from photography, descriptions, to alluring offers that capture the attention of new and old customers. Sales, offers, discounts, and any ways that are cost effective, are highly suggested, these proposals present more opportunities for profit sales.
Check out the Platforms that integrate with eCommerce Fulfillment Centers
Ship your products to an ecommerce fulfillment company
An ecommerce fulfillment center can warehouse your inventory, connect to your website to receive orders, and ship your products at cheaper rates than you could. Instead of rushing to places like the USPS Post office and waiting in line every day to ship orders, you can focus on the next step to grow sales and make more money $$$.
Learn more about eCommerce Fulfillment options
Market & Network like crazy!
Who you know and who knows you matters! Get to know people in your community (or online community) so you can spread the word about your product and find the right partners to help you succeed.
Utilize free options for marketing like email. From mass emailing customers about offers, new items in stock, or even emailing receipts with surveys, thank yous, and asking for reviews. Emailing is a great way for marketing, and reaching out to customers. You can send reminders of products left in abandoned carts or offer a discount after a reminder.
There is a lot of research and work involved in creating an ecommerce business, so the undertaking is not for the weak. Finding the right partners who have experience in the industry is crucial. Fulex eCommerce order fulfillment has helped many brands succeed by giving access to their discounted shipping rates and lending their expertise.
We are accepting new merchants within our three fulfillment Centers. We are receiving inventory daily and can ship your products anywhere in the country in 1-2 days. Please reach out to us if you would like to get started!
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