Setting up an e-commerce business is pretty easy these days, but it can end up costing a small fortune.
Most start-ups simply don’t have a lot of spare cash lying around to help set up the business.
So, what can you do if your budget is limited but you’re keen to get your e-commerce business off the ground?
Here, you’ll discover some top tips to save your start-up e-commerce business money.
Register Your Company
Before starting your e-commerce journey it’s worth taking into account what kind of business structure would be ideal for you. There are significant differences when opting for one or the other option and they can largely determine the financial success of your business. Take some time to read about LLC vs S-corp differences and choose what you think would be best for your business in the long term.
Ensure your product is profitable
This may sound like an obvious one, but before starting your e-commerce business, you need to be absolutely sure your products are going to be profitable. This means you’re going to need to do an awful lot of research into your niche, target market and competitors.
If the product doesn’t turn out to be as profitable as you imagined, you’re going to have wasted any money you’ve put into the business and end up losing money!
Choose the right suppliers
One of the best ways to save potentially a significant amount of money is to ensure you’re choosing the right suppliers. The internet has made it so easy to compare and switch suppliers, enabling you to find the lowest prices.
One supplier you may not have considered is the courier company you use. These days, customers expect to receive a very high standard delivery service. This means you need to choose a courier which is reliable and offers the latest features. Take advantage of comparison websites like Parcel2Go.com to find couriers offering parcel tracking and other services.
Take advantage of digital advertising
Another awesome way to save money with an e-commerce start-up is to make use of digital advertising. At one time, marketing was one of the most expensive parts of running a business. However, thank to technology, you can now market your business entirely online.
There’s a lot of free advertising platforms you can use such as social media. Or, you could invest in pay per click advertising such as Google AdWords or Facebook Ads. The amount of money you could save with digital advertising is surprising!
These are just some of the best ways to save money when starting up an e-commerce business. As you can see, it’s entirely possible to set up an online store, market it and generate sales without breaking the bank!
