10 Reasons To Open An Online Store Now!

10 Reasons To Open An Online Store Now!

Are you considering starting your own online store? That is great! I encourage everyone not just to start an online store, but a business in general. Having your own business is great, there are no limits and you have the freedom to decide yourself in what direction you want to go. Sadly, there are still a lot of businesses that do not have an online store yet, and in my opinion they miss out. Why is that?

Why Businesses dont have an online store? 

I think that small business owners often have the mindset like this: "If I can't do it myself then it's unnecessary" Meaning they want to control and see everything that is happening in their business, and want to know exactly what their employees are doing. Which is a nearby impossible task. You need a good team with good managers for that.

The point though, is that many things are happening online nowadays. But if you come from a time before the internet, it might be hard for you to understand how online stores work.

Therefore you won't be investing in it, and thus you feel there is no need for it. Besides, your business is doing fine and you are making money. Why focus on something so "fancy" as online marketing right? Well in this post I want to give you 10 key reasons why I think you should open an online store right now! I want to try and show you that you might be missing out on a lot of opportunities and that it isn't hard to start.

Your products are available 24/7

In case you didn't know, an online store is never closed, even when you are sleeping or taking a holiday. Orders can come in at any time. Many people are busy with their work or don't have the time to physically visit a store. These people will order at night, in their breaks or on the weekend. It's more convenient for your customer to order whenever they want and not having to drive to the store.

For you it's also more convenient because you can just check your phone and see orders come in. All you have to do is ship them. Obviously you need a team of people, like marketing, customer service, and warehouse workers. But the biggest benefit in my opinion is that your store will be available for your customers all day.

Online sales are still growing

Online sales are growing and are expected to grow even more. "In 2020, retail e-commerce sales worldwide amounted to 4.28 trillion US dollars and e-retail revenues are projected to grow to 5.4 trillion US dollars in 2022." People love to shop online, in fact, it's one of the most popular online activities. That means for you that there are still a lot of opportunities to have a successful online store.

This shows that people love to shop online, and that you should definitely have your store online. It also means that you still have a lot of opportunities to grow your store.

Showcase Your Best Products

You don't always have to sell the same products online as in your physical store. Not all products might be suited to ship, or people just don't like to order certain products online. Either way, you should figure out which products are best for online sales. And only showcase them in your shop. There will always be a few products that are the most popular, try to showcase them the most and you could increase your sales.

Get to know your customers better

There are a ton of ways to know more about your customers, one way would be to do surveys. Another is to collect data from your visitors. For example, where they come from, which page they visit the most, even gender and much more. This data can help you analyze your customers and help improve your business.

Another way you can get to know your customer better is by looking at their reviews. This will give you a lot of insights into what people really think. Besides that, you should always look on social media and check what your customers are saying about you, and which pages they are sharing with others.

Increase your reach

Like I said before, there are a lot of people online nowadays, and many of them love to shop. With so many people online you have a high chance of reaching many more people than you could do locally. You can advertise and promote your store to 1000s of people at the same time which increases your chance of making sales.

You can sell your store

If you have a good running store, and you build a successful store online as well. You might consider selling it at one point. You can sell your business for a much higher price, because it will be worth more. An online store adds a lot of value to a business. There are a lot of entrepreneurs that don't want to start from scratch. They want to buy a store that already has some online presence and a customer base.

You have flexibility of your time

If you have an online store, one of the best things is that it basically works on its own. Of Course you have to manage it, but it takes a lot less time to manage than a physical store. Which means that you can be much more flexible with your time. You can work on your website from nearly everywhere, from your home or from a Starbucks.

You can promote and send your products all around the world

Nowadays it doesn't matter where you are in the world, you can have customers anywhere. People from Australia might order something in America and vice versa. If people have the internet, they have access to your shop. This opens your store to much more possibilities. And it can help your growth significantly.

Convert your physical customer base to an online customer base

If you are already running a successful store without an online store, but you are considering an online store as well to reach more potential customers. Then you can use your actual customers to kick off your online store. Tell your customers that you are starting a store and give them a reason to go there. For example give them special discounts, and explain them that its much more simple to just order online.

Low startup and operation costs

Having a website is significantly cheaper than having a physical store. All a website takes is web hosting a Domain name (I recommend Bluehost, I'm using it myself, and I think its very reliable and webhosting start at as low as $2.95 p/m). Of Course you might consider hiring a web designer to build your website. But these initial costs are a lot lower than when you would start a physical store. Besides Bluehost, you could also choose Wix or Shopify to start your store. It's easy to set up and the monthly costs are fairly low.

Thank you for reading, I hope this post has convinced you to start your own online store, for questions please let me know!

Good luck!

About the author:
Hello, my name is Ron Hoekstra, founder of The Liberty OnDemand. I hope you like my content, if you want to know more about me, please read here or subscribe to my newsletter where I will keep you up to date with new posts and other useful content.