Most online start up begin start up with a store on Amazon, Etsy or eBay but there is point when you must move on to your online shopping store. While you are busy working hard on offering the best to your customers, there is a chance of easing profits to your ecommerce line by moving on to your online shopping store.
Here are top six pointers to determine whether it is time the right time start your online shopping store.
1. Expenses are high because of Webstore fees
The best online marketplaces make around 15 percent from each business transactions generating their profits. This fees you are paying can be saved and used for expanding your ecommerce functioning. The time for deciding when it is right to start your online shopping store is when you are paying too much to these marketplaces.In comparison to other business Amazon webstore, eBay store and others seem like they are eating up all your profits. If this actually happening according to your figures then it is time to consider starting your online shopping store of your own.
Marketplaces like Etsy, Amazon and eBay are great for startups when you are not making large number of sales but you must move to your own online shopping store to grab more profits. You can’t keep pondering away your profits to these marketplaces forever!
2. Concentrated working: Diversify into your own online shopping store
If you are still working in a closed environment then you are heading for a big ecommerce disaster. “Everything under one roof is destined to burn down with it!” So, what’s the solution? Simple! Diversification of your ecommerce business. You need more than one way to earn if you want to stand long. If all your earnings are coming from exposure at one marketplace then you must move on and expand your ecommerce business visibility immediately.
Generally, the benchmark line is marked at earning amounting to $10,000 a month. But it is still your call. Starting your own online shopping store costs around $25 at starting level and closing limit at $200 for enterprise level planning. It is not much compared to paying 15% of all your transactions to marketplaces.
You cannot diversify without your online shopping store. Therefore, whenever you feel it is time grow start immediately.
Related: Latest update on 5 Ecommerce Mistakes to Avoid
3. Stable Sales? Time for your online shopping store
You can track your previous record to check the growth rate and if you see a straight line that’s your cue. It is an indication for you to move on to your own online shopping store.All the marketplaces will feature your products and help you grow your ecommerce sales to a certain point. After that it is essential for you to start your own online shopping store to attract web traffic.
4. Customers want to see your online shopping store
It is essential to have your online shopping store if you are creating a brand. It doesn’t take long in the fast growing ecommerce business to create your identity if you have the right product and sales. Now, when your sales reach a point and people know your brand they want to see it. That is when you must have your online shopping store to show a sense of brand and owndership.
5. Sophistication in your products require detailed categorization
There are times when your customers watch out for your products differentiating it on color, size, and other factors. Amazon, Etsy and eBay offer differentiation to a certain point after which you should understand that it is time to go BIG.
6. Exclusive Products deserve Online Shopping Store
If you are selling customized products and exclusive deals then you need a brand name not just a webstore. You can simply understand why you can’t Louis Vuitton on Amazon or eBay. Playing the part is important if you want to aim at a niche market.
