How To Start an eCommerce Business From Scratch in 2022?

If you know the number of e-commerce websites available in the market in 2022, you will probably pass on the idea of initiating your e-commerce due to the competition available in the market. There are nearly 12-20 million e-commerce websites across the world in multiple industries.

But don’t worry, not all the existing websites are doing well and making huge money. Only 1 million websites generate an income of $1000 and more in a year. So, there are pretty high chances of starting with your eCommerce websites as there is a high scope of beating the competitors with USP and marketing strategies.

Market Overview of the E-commerce industry

There are some growth statistics of e-commerce to encourage offline stores to open their business online.

• In the next coming years, the e-commerce industry will have $4.5 trillion annual sales.
• 67% of millennials prefer online shopping compared to offline.
• To buy daily needs goods, 56% of Gen-Xers choose to shop online
• In online shopping, women spend $151 and men spend #220 per transaction.

The above stats justify the interest of customers in online stores. However, you don't have to shut down your offline store or open an eCommerce store to reach out to maximum customers.

Are you planning to open an e-commerce store? Here is the step-by-step guide to begin your virtual store journey.

Start an Ecommerce Business from scratch:

1. Think about an Idea

A million-dollar business is the result of one out-of-the-box idea. For almost every possible product/service, the eCommerce platform is already available in the market. To make the product a success, one has to think out of the box.

For example - Jeff Bezos came up with the One-Click checkout idea and soon got it patented. Now other e-commerce stores can’t use the single click check-out feature. Likewise, think differently and uniquely.

After finalizing the niche, do extensive research. Learn about the respective industries and fellow competitors. Do analysis and find out whether it's good to go with the services or find something different. Read about the market in detail before making any further decisions. An e-commerce store must know who they will be facing and how they are going to deal with it.

2. Choose Appropriate Name

People will remember your store/business by the name. Make sure the online store name is short, catchy, and easy to remember. While coming up with the e-commerce business names, check our trademark registration. The name should be different from the possible existing names.

Also, check the availability of domain and business name available on the internet for your business.

3. Ownership - Partnership or Solo

Before moving ahead decide the business structure. The type of ownership of the store will largely affect your business and its operations. If you don’t want to go for any partnership, go for solopreneurship and Limited Liability Company Structure.

If you are choosing any partners, remember that the partners will have legal and financial effects on your e-commerce business, some kind of support, distribution of work, or divided ownership. Both solopreneurship and partnership have their advantages and disadvantages. Do the research and learn more about the business and online stores. If you still can’t figure it out, hire an attorney, who will help you understand the process from all aspects.

4. Get Licence and Legal Permits

Whether you are running an online or offline business, every business needs legal permission from state authority. If you are planning to start an online e-commerce business, get the necessary permission.

The rules for all types of businesses are different. For instance - If you are working as a sole proprietor or general partnership, there is no requirement of booking the business. Make sure you are filing DBA to operate the business legally.

However, starting an online business has its benefits, where a businessman won’t need too many licenses like the Brick and Mortar business.

Also, considering the legal permits for the particular region, the guidelines might not be the same for all the locations.

5. Choose an eCommerce platform

Now, it's time to set up your e-commerce business on the most appropriate platform. There are numerous e-commerce platforms available where you can open your stores like Shopify, Magento, WoCommerce, and Squarespace. On an E-commerce platform, from building the basic setup, to running the operations and marketing your product, everything can be done on one platform.

You can build your eCommerce site like Amazon and Flipkart or can create an account on the visiting platform.

However, setting up an online store is not like setting up an account on social media. You need experts assistance to set up your online eCommerce business.

6. Hiring the eCommerce Development Company

Some people consider creating an eCommerce account on platforms as like creating an account on social media pages. But, here you need more than the basic details and personal information. Without a doubt, hire experts like RGInfotech, who are well versed with all e-commerce platforms and can build a safe online store for you.

Don’t forget to integrate the basic features in the e-commerce website, but you can go out of your way to include some other unique features too. The basic features decide the optimization, loading time, UI, etc of the e-commerce page.

You have two options of initiating your online e-commerce website, either from scratch or getting a clone solution like Amazon.

The solution from scratch is lengthy and requires market knowledge, whereas ready-to-launch solutions like other e-commerce sites are just one step away from launching your website.

Conclusion

In the last decade, the shopping experience has completely changed. Within the last two years, many offline stores have opened their online stores and successfully delivered the products at the customer's doorstep. Indeed, the market is filled with millions of e-commerce space, but there is a chance with your unique idea and marketing skills, you can beat the competitors and can make your space in the market. Hiring expert developers like RG Infotech, work relentlessly to build the most unique and secure e-commerce store for you. Sell online and reach out to the potential audience. Check out our eCommerce Development Solutions.