Costs of Starting an Online Retail Business

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September 3, 2012

So you’ve noticed the booming trend of more and more people abandoning the bricks-and-mortar style of shopping and opting to go online to buy products instead, and now you want in. Besides expanding your presence to the rest of the world, there are many benefits to starting an online retail business. Not only is it convenient for your customers, but you will be making money around the clock, even while you sleep! Furthermore, you can run your online business from the comfort of your own home, and you won’t have to deal with the overheads associated with traditional retailers, such as staff wages and store maintenance.

However, all this comes at a cost. If you want to start up an online retail business, make sure you have a budget in mind as you are only limited by your finances.

How much does it cost to start up an online store?

There’s never been a better time to get involved in online retailing, but there are many things to consider: first, you need to build a dynamic website that will stand out from your competition. Then you need to get web hosting, domain name registration, customer inventory, and email, as well as shopping cart software. You’ll also need some marketing and advertising, such as Search Engine Optimisation and Social Media support so that your website can be found easily on the internet.

When it comes down to it, you could be looking at anything from $5000 to $50,000 to have a fully-functioning online retail store! However, don’t despair. These prices are only indicative if you were to pay for the tools individually. Your best bet is to choose an eCommerce software platform that delivers it all in a nice, and often inexpensive, package.

To ensure online success, you need all the right ingredients. Often, online shoppers know what they’re looking for and then will move on quickly, which is why a pre-made software platform is your best option. So save your money and look for an all-in-one eCommerce solution that offers you exactly what you’re looking for, and then sit back while your business flourishes online!

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