Top 10 ideas to earn from retail store based at your home
01/Jun Top 10 ideas to earn from retail store based at your home

Most of us get inspired quickly by large shopping malls selling our favorite food products or cosmetics. I remember all my trips to the local mall, the trouble I had to go through to plan one visit to buy a handful of stuff. I used to dream about owning one myself but back then we neither had the resources nor the concept of online retailing.

Lucky for you, this article will introduce you to a whole new world of e commerce and its wonders.

Online Retailing? Say Whaaaat?

 

Online Retailing

I know you must me wondering how can you run retail store online, that to from your home. Well, my friend! Welcome to the age of web 2.0 and its miraculous wonders. Nothing is impossible anymore. You can now own your own chain of stores over the internet without going through the physical and financial trouble of setting up store outlets. With the breakthrough innovations in e-commerce, businesses are now saying goodbye to the traditional brick and mortar business models. It’s the age of virtual business models, where all your business operations run online, from hiring your staff to operating your supply chain or managing customer front. All you need is an internet connection, a computer system and some initial cash to start up.

What kind of a store to open?

 

What kind of a store to open

In order to decide what kind of a business model you’re going to have, you first need to find out about the hottest selling things in the market. You cannot risk your entire life by choosing a product that’s not even in demand. Therefore you need to do your own research, try finding about products, possible market segments, market gaps. Once you’ve done your initial research you can move onto selecting a suitable business model and looking for a willing investor. You need to decide you revenue model, whether you’re selling a product, service or just information for that matter. In order to acquaint you with the idea we’ve short listed a couple of product and service categories suitable for online retailing.

  • Cosmetics and Beauty products
  • Pet food
  • Art and Design
  • Comic books
  • Stationary
  • Clothing and tailoring services
  • Catering services
  • Branded Jewelry and handbags
  • Electronic gadgets
  • Whole seller for FMCG products.

Some known tricks of the trade

 

known tricks of the trade

Online retailing cannot promise you overnight success. We can’t assure you whether your store will be popular in the market or not, which is exactly why you need to have a proper plan. Prepare a proper business proposal including an entry and exit strategy. You need to decide what kind of marketing and promotional channel you’re going to use. Considering financial factors is equally important because after all you’re in the business to make some money. You need to be very calculative. Finally, deciding suitable pricing strategies is important as well. You need to know when to announce timely sales and keep your customers happy.

Dania Khan
Running a household with 2 kids and an office with 20 more ;) Avid reader, passionate writer, traveler, parent and not a very good friend.

3 thoughts on “Top 10 ideas to earn from retail store based at your home”

  1. First of all Prepare proposal and start your business but according to your interest and ability and for become the sucssefull business man the key is to keep your customers happy decide your suitable price….

Post Comments:

Your email address will not be published. Required fields are marked *