We may earn money on products from the companies mentioned in this post.
Choose a niche
The most important part of starting an online store is choosing a niche. You should choose a niche that you are interested in and one that isn’t too saturated.
You want to find a small niche with high potential. This means there are not many stores selling the same thing as you, but there is still plenty of money to be made in that particular area. It also helps if this niche has a good profit margin because then it will be easy for you to compete with big brands and make some money!
Finally, if possible, try to find an industry where there are already well-known brands or designers who have built up their reputation – this will help convince potential customers that they can trust your business too!
Choose your domain name
Before you can start building your online store, you need to pick a domain name. Your domain name is the web address for your site—for example, www.shopify.com and www.youtube.com are both domains that people visit every day.
Choosing a good domain name for your business will help people remember it and find it when they want to come back again later on down the road. It’s also important that you choose a short, memorable URL so that other people can easily share it with their friends or family members by using email or social media platforms such as Twitter or Facebook.
Build your store (Shopify)
Now comes the fun part. It’s time to build your store!
Step 1: Select a theme
Shopify has hundreds of themes available, so it shouldn’t be too difficult to find one that fits your brand. You can browse through them at: https://themes.shopify.com/
Themes also come in different price points and features, so if you’re just starting out then I’d recommend going for an affordable option until you see how much traffic your store gets and if it will be worth spending more money on a higher end theme later on down the road (or even hiring someone else who knows what they’re doing).
Find suppliers and dropshippers.
Now that you have a name, it’s time to find suppliers and dropshippers.
You can choose to sell your own products by manufacturing them yourself or by working with someone else who is already doing so. Or, you can sell other people’s products through dropshipping: having the supplier send the product directly to the customer, then paying fees on top of that cost or receiving a commission once an item is sold.
Shopify has a directory of approved suppliers and dropshippers if you’d like some help finding them!
Make a business plan
It’s important to make a solid business plan before getting started. The first step is to write down your goals and what you want to achieve in the next 3 years, then break those goals down into smaller steps that can be completed every month or quarter.
Next, make a spreadsheet with projected costs and revenue for each year of operation (including marketing activities).
Select the best shipping option for your Shopify store.
The best shipping option for your store is the one that meets all of your needs, including cost and speed. Shopify offers many different shipping options to help you get the best value for your customers.
The following list gives a brief description of each shipping choice:
- Standard Shipping: With this option, customers can expect their package within 5–10 business days from the day of shipment. The cost for standard shipping is $4.95 on domestic orders and $19.95 on international orders (excluding taxes). You can offer free or expedited delivery by adding it as an upgrade in the settings menu under Shipping & Payments > Settings > Shipping Fees & Handling.
Apply to a credit card processor.
- Apply to a credit card processor. Once you’ve set up your store and have everything ready for selling, apply for a merchant account. The best place to start is with Stripe, who has over 2 million businesses using their platform to accept payments on the web and in mobile apps.
- Accept all major credit cards. By allowing customers to pay with American Express, MasterCard, Visa, Discover and JCB at checkout—and even offer Apple Pay—you can attract more customers while keeping your processing fees low (see below).
Prepare the legal aspects of starting a business (think about small business loan)
When you are starting an online business, there are a few legal things that you need to think about. The first is whether or not you will need a business license depending on where you live. This can be obtained through your city’s website or by calling them directly.
Secondly, if your store sells products and/or services online, it may require an EIN (Employer Identification Number). An EIN is like a social security number for businesses and can be used as the tax identification number for the business as well. You will also have to obtain a sales tax permit in order to sell goods within your state of residence because this determines whether or not taxes must be applied when selling certain items online (like food). Finally, if using a name other than your own name when creating an online store (such as John Smith – Do It In Person), then it is suggested that registering with DBA (Doing Business As) is essential so that customers know who they are buying from when purchasing from this type of business entity.
Create an email list, Instagram account and Facebook page for your store.
You should also create an email list. Use it to send weekly store updates and special offers to customers who sign up for it. Make sure you respond to every single customer email that comes through and send out a newsletter at least once a month. Social media is another great way to reach new customers. You can use Facebook, Instagram, Pinterest and Twitter as free advertising platforms that will allow you to build your brand and expand your store’s reach exponentially!
Monitor your sales, conversion rates, traffic and profits.
- Monitor your sales, conversion rates, traffic and profits.
- Set up a sales funnel.
- Set up an e-commerce analytics dashboard.
- Use Google Analytics to analyze your traffic and see how people are finding you or where they are coming from when they land on your site (i.e., organic search vs paid ads).
How to open an online store with Shopify.
Open an online store with Shopify
Shopify is the best platform to build an online store. Your success depends on how you choose your niche and create a business plan. You also need to set up a website, Facebook page, and Instagram account before launching your site. Monitor your success regularly, so that you can make improvements as needed.