So, you’re the proud owner of an e-commerce business that has seen increasing revenue, and now you’re looking to sell. You have probably put in countless hours of hard work and equity to build a profitable site and now your objective is to get the maximum return on your investment. Well, if you’re looking to best prepare your e-commerce website for the sale, then you’ve come to the right place. In this guest post from brokerage expert, Thomas Smale of FE International, we will explore the options that you have when looking to sell, and how to maximise the overall sale price of your business.
As someone who owns an app (Gleam.io) that helps businesses grow I am constantly amazed by some of the contests customers are running to engage their audiences. Contests are one of the most diverse forms and engaging forms of marketing that exist, no two are the same and there's so much you can do to make the experience unique for entrants.
The world of drop shipping is often considered the easiest way to sell products online, and Oberlo is seen as one of the easiest ways to get start with this. Although drop shipping comes with various difficulties, it is a viable way to start an online business without much upfront capital.
The basic idea behind drop shipping companies (aka dropshippers) is that you contact a manufacturer or wholesaler who might be willing to partner with you. After that, you build an ecommerce shop and start selling some items that fall in a niche, like electronics or glow in the dark items. The more niche the categories the better.
Let's say you've been running an ecommerce business that sells electronics, such as headphones, speakers and other audio equipment. You started your online business with five or ten products, but now you're starting to see your sales plateau, and you're beginning to think about how you can expand your product lines.
Even though your business is boring, you probably offer a great product that many consumers could benefit from. If potential customers don’t know that you exist, however, it doesn’t matter how great your products or services are, because no one will buy them.
Increasing brand awareness, especially if you happen to fall into a mundane business category (say bed mattresses or matcha tea), should be at the top of your priorities list. Here are five ways all boring businesses can improve visibility:
Your ecommerce journey may be just starting, or maybe even coming to fruition. Regardless, we all need advice and motivation to keep us going in the tumultuous world of online business.
Choosing the right ecommerce platform is a complex decision that generates many concerns, such as cost, time-to-market, usability, reliability and customization. No software solution — whether off-the-shelf or custom-developed Software-as-a-Service platform — provides everything your business needs. Off-the-shelf platforms maybe have custom modules that allow for the necessary customization, but you are beholden to the developer to maintain and update those modules going forward and to create new ones as needs arise.
If you currently run an online business, take out your most recent credit card processing statement. If you’re still in the market for building an online business, put all your focus on this article, because this could mean the difference between you cutting costs efficiently or draining your resources way too quick.
Merchant account pricing models, a topic that sounds super boring, is actually rather simple once you take a moment to think about it. Not only that, but a quick understanding of the desirable, and not-so-desirable, options could be mean success or failure for you. Your best bet is the ever-so detailed, yet transparent, interchange-plus pricing model.