How to set up an Ecommerce Business | The Entrepreneur’s Guide
One of the trendiest topics these days is how to set up an ecommerce business.
What is Ecommerce Business?
Firstly, let us have an overview of the ecommerce business.
It is basically conducting business through the Internet. It not only includes buying and selling but also services for customers and collaboration with business partners.
For example, you must have shopped from an online platform like Flipkart, Amazon, Meesho, called e-commerce business platforms.
How to start an e-commerce business?
The first thing to do before starting a business is get it registered.
Therefore, go for company registration online and fulfill the legalities immediately.
You can start an E-commerce business in two ways:
- First, by creating an online website of your own or by taking a product from any platform and listing it on your website for selling to get 30% to 40% commission.
- Second, if you have a shop or you have your own business. Like cosmetics or clothes showrooms, you can earn a good profit by shifting to the e-commerce platform.
Where to get the product?
We will tell you five such platforms, from where you can take a good product and earn a good commission by selling it.
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Meesho
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Shop 101
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Snapdeal
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Flipkart
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Amazon
You can download these apps by going to the Play Store, where you will get all the information related to them.
if you have a product of your own, then even better, you need a hosting and domain name to start it
As if hosting, you have an online shop, your shop where you keep your goods and, the domain name is the address to reach you through which people will visit your website.
Where to Get Domain Name and Hosting
The most important thing to do when looking for How to set up an Ecommerce Business is to acquire a domain name.
To take domain name hosting, you have to go to search websites, where you can buy a domain name and host.
Remember that while taking a domain name, the name you want to keep should be simple and easy so people can identify it.
Always keep the domain name as short as possible, for example, Akshopingstore, Dkshop, Nkgrocery, Goyaljisweetstore.
Required Documents
- Aadhar Card
- PAN Card
- Bank Account
- Debit Card
- Email ID
- GST no.
GST Number
It is essential to have because without this you cannot work.
GST number in Government Service Tax which has to be given to the government for selling any product.
So, if you sell an item worth Rs 100, then 5% to 7% of it has to be given to the government, which means Rs. 5 to Rs. 7 goes to our government.
To get the GST number, you need the following documents.
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Electricity bill or water bill should be
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Bank AC
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Aadhaar card
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Pan card
You can apply online or by visiting the nearest service center. It takes 15 to 30 days to get it.
Which Payment Gateway to Choose
If a person comes to your website and wants to buy an item, how can he pay for that item?
You will need a payment gateway, through which you will collect payments, for example, Net Banking, UPI, Paytm, Google Pay, Phone Pay, etc.
If you are starting this business, then also offer cash on delivery because whenever a person comes to the new website for shopping,
somewhere they fear that whether the product will arrive or not even after paying.
Therefore, it will help you to increase the customer’s trust and reliability in your business.
How much does it cost to start an e-commerce business?
The minimum investment to start an e-commerce business is between Rs 8000 to Rs 10000.
If in today’s era you want to start your online business, then for you.
It is often good because an online platform is such a platform that is open to all which you can start with less money.
Earning from e-commerce
If you get good orders from people, you can easily earn 300000 to 500000 lakh rupees per month.
Bring traffic to your Website
For that, you will have to search for the right keywords so that you can come in the top ten ranks of Google.
Along with this, you can target an audience from online advertisements so that your website traffic increases and you can do your work.
You can also promote your business so that your promotion can reach more and more people and attract more and more people to you so that your website traffic can increase
How to Do Keyword Research
Free tools and paid tools are also available, such as Semrush, Ahreph, etc.
Also, you can do your keyword research at googletrend.com. It will help you increase your website traffic.
Know your Competitors
Needless to say that this part is quite indispensable in any kind of online business. You are not alone in the market. You need to best for your competitors.
Not only that, your search needs to lean towards the following to come up with the most accurate results:
- Take a deep look at how you sort out your product descriptions
- Compare your competitor’s pricing techniques.
- How responsive are their product pages? Do they load fast enough?
- Consider feedback from customers.
That is how your business model operates on a huge amount of descriptive information.
It gives you the roadmap to fill the market gap. Creating such a fundamental exercise supervises your strategy to beat the already existing competition.
Choose the Right Sales Channel
At the moment, there are several ways of counting. The list is endless. It is the most lucrative part of running your online business.
Forget about retail giants like Amazon, eBay, or even Alibaba. Other suitable 3rd party salty channels are taking centre stage.
Tips to help you to set up an Ecommerce Business
Choose a sales channel that allows you to:
- Import products in bulk with their descriptions
- Connect to the most prolific and niche-oriented topics
- Run an actionable blog section
- Sell on social media platforms.
- Work with real-time reports
- Do marketing campaign
Author Name
Geeteshree Singh Panwar
