Ever since the COVID-19 started, businesses all over the world faced drastic changes in the market and the economy that put most of them in disarray. Despite all the challenges brought on by the pandemic, Egyptian eCommerce remains to be strong and has actually experienced growth. If you’re planning to start a business, this proves to be a perfect time to do so. Marketing your business will need the help of an eCommerce web development agency, but before you can do that, you must first know how to build your business from the ground up. Here’s what you need to do to start your eCommerce business.
1. Decide on the Perfect Business Model
This is the very first step every aspiring entrepreneur needs to decide on. Your business model practically dictates what your business will be and how it will operate and grow for the years to come. It’s important to think long and hard about the kind of eCommerce business model you want to adapt. You can either be a single vendor or a multi-vendor eCommerce store. In terms of revenue models, you have a couple of options to choose from:
- Wholesaling and Warehousing
- Private Labeling and Manufacturing
- White Labeling
Deciding on what business model you’ll choose can be a little daunting at first, but it’s crucial to really determine what kind of model you want to adapt. Whatever you choose will forever define your business.
2. Think About Where You Want to Sell Your Products
For those starting in the eCommerce industry, you have two main choices open for you to sell your products online. You have the option to list your product on a marketplace website or develop your own custom eCommerce website from scratch.
The former is a bit more convenient, but it has its limitations, while the latter would require you to hire an eCommerce web development agency to help you. While you can develop your own website from scratch, it can be quite a challenge, especially if you don’t have any experience in designing and developing websites.
3. Choose a Niche Market
Most businesses choose a broader audience to target when selling products. However, there’s too much competition there already, and sometimes finding a niche market can be a better opportunity for you. An eCommerce niche is a distinct segment within markets and often overlooked by other businesses. Niche markets are small, but you have the advantage of owning that particular niche for yourself with little or no competition.
4. Register Your Business
Before you set up your online store, you must first register your business and make your brand name official. After registering your company name and logo, you need to get your business licenses along with your employee identification number. Once you’ve obtained all the required business licenses and permits, you’re now ready to launch your new business!
These are simple steps every new business owner can follow when establishing an eCommerce business. While some of these steps have a little more detail than others, they serve as a practical guide to help you start your business from the ground up.
Nahr development is a digital marketing agency based in Egypt helping startups get a head start from the competition. We understand how hard it is to start your own eCommerce business, which is why we offer digital solutions designed to help you establish and grow your business. If you need digital marketing services or eCommerce mobile app development, we are the ones to call. Contact us today to get started!