Over the last few years, online stores have soared in popularity with many people starting their own ventures outside of their 9 to 5 job. The rise in ecommerce has meant that there are hundreds of new small businesses out there and more people are now supporting these amazing businesses which means success for ecommerce as a whole.
Anyone looking for something to do outside of their day job may want to start their own ecommerce business. While we think this is a great idea, you may take a little extra convincing. It’s for this reason we have put together this list of reasons you should start your new venture into ecommerce. We’ve also been sure to include some top tips before getting started.
What is Ecommerce?
Essentially ecommerce is when a business or brand sells products and services online (electronically). There are many forms of Ecommerce but the most well known is retail sectors (such as fast-fashion brands), furniture and home improvement. The two main types of Ecommerce are B2B (business to business) and B2C (business to consumer). It is essential to know your main area of business and ecommerce as this will help you further down the line.
Why Should You Start an Ecommerce Business?
There are so many reasons you should start an ecommerce business and while we understand we don’t have to convince you to do so, you may want to know the benefits before you commit to anything. To really accelerate your growth and reach with your ecommerce business, you will want to invest in social media, content marketing and SEO. Manchester based agency Mechanised are a great choice if you’re struggling with your ecommerce SEO. In fact, they specialise in SEO and ecommerce so it’s the perfect combination.
Reason 1: You’ll Have Independence
Having your own business means you have independence to do what you want. Owning an ecommerce business isn’t easy but it gives you a lot of time to spend improving yourself and the added independence means you’re able to learn and grow in ways you may have never considered before.
Reasons 2: You Can Earn an Uncapped Amount of Profit
If you’re good at marketing and you have a good product that people like, you’re able to make an uncapped amount of profit. If the word ‘uncapped’ doesn’t excite you enough to make you think of the possibilities there are, then you definitely need to visualise what ‘uncapped’ actually means! Unlimited income for you and your family, essentially a life-changing opportunity if it works out for you. Ecommerce gives you the freedom to earn money and master being a business owner without the hassle of employees and rental space (if you don’t need them!).
Reason 3: Never Get Laid Off
For many people there is a worry about getting laid off by your employer, especially if they’re strict with certain things. However, owning your own ecommerce business is no longer something you have to stress about. Instead you have to grow the business using your business plan. While to many people this may seem difficult at first, when you have a plan in place you will soon be able to feel more relaxed that everything is going to work out.
Reason 4: You May Get Tax Benefits
Running a business from home may mean you’re able to claim certain tax benefits from your household items as you will be using them for business purposes. Owning a business has many tax benefits and sometimes you can even use your business to help towards mortgage repayments, furniture, and electronics that you use within the home (such as a phone or laptop). While you may not want to start your own ecommerce business for this reason alone, it is definitely an added bonus when you do start making a turnover.
Reason 5: Ecommerce is a Growing Industry
As we’ve stated previously, ecommerce is a huge market right now but there are still large markets that are untapped. If you’re able to venture into these markets then you may be very successful within the industry. It is estimated that by 2021 ecommerce alone will be worth over $4.9 trillion worldwide. Who wouldn’t want to be a part of large monetary figures like this? Plus, further research has found that global B2B ecommerce sales are predicted to reach over $6.6 trillion which surpasses B2C which is valued at $3.2 trillion. Ultimately, setting up your own ecommerce business will mean you become a part of a revolutionary way to do business.