Online store business idea(How to start? feasibility...)

Creating an online store and selling them on internet is not an new idea but it can be really profitable business if handled smartly. Although, there are huge online stores like amazon, daraz and sastodeal in the market which sells millions of products online but if you focus on special niche you know more about you can easily beat them easily on that niche. Choosing the niche to sell and making a website are the main two things that must be taken seriously.

Let's discuss this idea of creating an online store with an example of "Online shoe store", I think discussing an idea with real example will help you to understand the blog easily.

What is the reason to start online shoe store?

There is always a reason and market need behind starting any business but in case of online shoe store business there may be two main reasons

1. You have a offline shoe store on a particular location and you are earning fine but you want to earn more by extending your business through internet.

2. You have a knowledge of shoe niche and little bit knowledge on the world of internet and you can see the potential of online shoe store.

Or there may be other reasons...

Is there a good market opportunity for online shoe store?

Since shoe is a daily life product, whether a person is man, women, or children everyone needs shoe so there is no doubt that there is a huge market opportunity for shoe. This is the time when there are not lot's of online shoe stores except the huge online stores which sells everything but don't focus on only shoe. Also, this may be the perfect market opportunity because peoples are prefering to buy online through internet than going to offline stores.

How much can we earn through online shoe store?

Although it completely depend on the person and his effort towards online store but there are also several factors that affect earning of an online store such as advertisement, websites identity, peoples reach etc. In case of shoe store you can earn on an average of 70,000 Nepali rupee if you are operating on city like Kathmandu and giving your full time but if you work smartly you can earn way more than that amount.

What may be the future of online store?

Since peoples are being more dependent towards using internet and peoples have started trusting on online things there is a huge potential on any online store. Global e-commerce economy have now already reached 4 trillion dollar and it is expected to grow more and more as peoples becomes more friendly towards use of internet.

For proper understanding of process of online store business opening let's discuss it step by step.

Steps for Creating online store:

1. Determine the niche on which you want to start online store.

This is the first and the most important stage. Choosing niche must be on the basic of your knowledge and experience but not on the basic of the market trend or revenue. for example if I have an offline shoe store and i have experience on selling shoes then my niche must be 'online shoe store'.

2. Perform some market research.

Market research is one of the must important part of any business. In case of online store you have to research about the following things

• Product need on market

• Competitors online stores

• Target audience

• Expected revenue

• Rules and regulations about online store

• Required team and partners

3. Launch your e-commerce store

4. Derive traffic to your online store

5. Grow more