Any person can become an entrepreneur. Sam Walton didn’t start Walmart until he was in his mid-40s. On the other hand, Mo Bridges became an entrepreneur at 12 and generated $150,000 in sales with his bows. Why should any person wishing to be an entrepreneur choose an e-commerce business rather than a traditional brick-and-mortar one?
Individuals find they can operate a business without a lot of overhead when they choose to start an e-commerce company. Thanks to the low-cost platforms offered today, a person can easily manage an online store. They scale the business as their needs change, which isn’t always easy to accomplish when using the brick-and-mortar method. During busy times, the business expands to meet increased volume. When the slow season nears, the owner then scales back on resources to save money until things pick up once again.
The many tools available today to e-Commerce providers allow anyone to start a business of this type, even those with little experience. For example, the owner might choose to use a fulfillment provider. Once a customer places an order, someone else handles the shipping and delivery of the purchased goods. This allows the owner to focus on other tasks designed to grow the business, such as marketing or research and development.
Eliminate Location Issues
Entrepreneurs who live in a small town know how difficult it can be to secure a property for their new venture. Although locations may be available, they rarely meet the future business owner’s needs. They are too far off the beaten path or the rent is extremely high, and their new venture wouldn’t be profitable once they pay the rent. Individuals wishing to open a business in a large city might encounter similar challenges.
Rent in major cities continues to skyrocket. For example, a person looking to establish a business on Fifth Avenue in New York could easily pay $4,000 per square foot. Although this isn’t the norm, a retail space in SoHo could still cost them $150 to $900 per square foot. Avoid these high costs by opening an e-commerce business and using the funds that would otherwise go to rent to market the business and build brand awareness and visibility (and even invest in AI). Doing so pays off in the long run and an e-commerce business attracts clients from across the globe. Although a brick-and-mortar business may have international clients, it must still pay overhead on the physical location. This rent reduces its bottom line.
Very few brick-and-mortar businesses today remain open 24 hours a day. Big-box retailers and grocery stores that used to operate around the clock stopped doing so during the global pandemic of 2020. Many retailers today continue to close early and open later than they did prior to the pandemic. They also increased delivery options. Online retailers already know the advantages of offering at-home delivery on their products.
The internet remains open 24 hours a day, 365 days a year. This means the retailer can sell products and services at any time. The doors to the business never close. The retailer may make a sale at 2 a.m. when a mom is up with her newborn or sell a bike as a man sits in traffic on his way home from work at 6 p.m. As consumers can make a purchase when it is convenient for them rather than the retailer, they are more likely to buy items they want and need.
Consider opening an online business today. Any person can do so with ease, thanks to the tools and resources available today. If you have been wanting to branch out and become your own boss, this serves as an easy way to do so. Learn more today to see if this opportunity is right for you.