How to Launch an Online Store on a Budget
Some people may be put off by the word “business” because of widespread misconceptions, such as the belief that establishing a business needs blood, sweat, tears, and a lot of money.
Thankfully, the world is changing. Nowadays, anyone with an idea and a phone can start a business, and you can. It is possible to open your dream store by downloading simple software.
Companies like Ecwid by Lightspeed exist to assist people worldwide in starting lucrative enterprises with just an idea, a game plan, and a few mouse clicks. You can set up a new store with a website, social media, and virtual marketing. Continue reading to learn more
Is money scarce? Not to worry.
A person’s dreams of starting their own business occasionally may not materialise because it costs a lot of money to do so. But motivation and vision are the most important factors when starting a business. Even having millions of dollars won’t guarantee a successful firm unless those two factors are there.
If you have a passion and a goal, you can work around money. The only things needed to launch a small business are a desire and a minimal savings account.
Compared to their forebears, who frequently had to construct a physical store, ambitious entrepreneurs today can launch new internet businesses with a much lower initial cost. Online merchants make it simple to connect with potential customers by utilising a variety of marketing techniques. A successful e-commerce website, virtual marketing, and the use of several platforms can be the perfect formula for starting an online business.
Why Build an Online Store?
It can be intimidating to launch your own business at first. You must first comprehend your store and brand in order to fully understand how you wish to run your business. This could involve seeing your life, your shop in a year, and the things that attract customers. Think about the future while closing your eyes. What stand outs to you?
Opening an online store can be exactly what you need if you want to set your own hours, manage your stock, and reach a wide audience with your brand.
If you’d rather spend £5,000 or more on rent, utilities, and other in-person retail costs, go ahead. The success of your company might be aided by having an ecommerce website, even if it is not a physical store.
Greater Flexibility for Your Business
Think about your most recent buy. It’s likely that it came from the internet. Think about distributing your own products over many channels that your customers may easily access. You might be able to achieve your goal of having your products in every home if you have a fully functional online store.
Online retailers offer possibilities for innovation, growth, and flexibility that conventional brick-and-mortar businesses would not. An internet business, for instance, does not require the same procedures as a physical store, such as leasing real estate.
It is easier to expand thanks to omnichannel retailing
The flexibility to scale your business as it grows is essential. If you already operate an online store and are willing to make the investment in new sales channels, you may easily integrate your product catalogue with a social networking site or the market.
An e-commerce website can assist you in promoting your business in a number of ways. It could be connected to online stores like Amazon as well as social networking sites like Facebook and Instagram. This enables you to simultaneously sell through a variety of channels.
You may manage both your inventory and sales with Ecwid by Lightspeed to sell online. This prevents you from overselling tangible goods and lets you know when it’s time to restock your inventory.
How to Open a Website Without Funding
Let’s move on to the procedures you may use to choose an e-commerce platform for your internet store and publicise your new business with little to no upfront costs!
Selecting an online store platform
Here are some factors to take into account when selecting an e-commerce platform:
- Pricing
- How much would it cost you to use this platform to make money?
- Integrability.
- Do the other tools you intend to use on this platform function well together? Think about delivery services, marketing tools, and payment processors.
- Templates. Can you create your online business using design templates offered by the platform?
Analytics. - Make sure the solution offers analytical tools that will keep you updated on your customers and sales.
- Using Google Search. You may increase your search exposure with the help of built-in SEO tools.
- Mobile-friendliness. Your online store’s mobile version needs to be simple to use because mobile buying is more common than ever.
- Customer support In case of an emergency, you want a retail platform that provides live assistance.
- Secure transactions. Make sure your platform doesn’t save your customers’ payment information and that all transactions made in your online store are safe.
- Earning money. Which payment platforms is your online store able to utilise?
- Growth opportunities. Will the platform promote or inhibit your development?
- On the last issue, growth potential, let’s elaborate. Of course, when you’re first starting out, you want a free platform. However, they frequently contain restrictions. Your business will eventually outgrow these limitations if it expands in size.
For instance, you can decide later that you want to sell more than the initial three items you offered when you originally launched your store. You could need to move your entire business and activities to a different platform because the previous one is less complex than you will eventually need.
Despite the fact that Ecwid offers a Forever Free option, Ecwid by Lightspeed enables your online store to expand along with your business. You can broaden your product offering, leverage marketing tools, increase your sales channels, and even create a mobile shopping app for your company. Simply update as your company expands is all that is required.
How to Start a Cheap Online Store
You can create an e-commerce website from scratch with Ecwid by Lightspeed. You can rapidly add an online store to an existing website. A free online store setup is provided by Ecwid. The free plan includes no transaction fees and a cap on the number of things you may sell, making it straightforward to launch a business on a tight budget.
What aspect is the best? The free plan may be utilised indefinitely!
How to Get Free Promotion for Your Online Store
Let’s talk about how to advertise your internet business without spending a dime now that we’ve established how to start one on the cheap.
The two most affordable and simple forms of advertising are social media and email marketing. These are available to everyone for free, but new business owners can benefit most from them.
Make use of social media
You can utilise social media as a tool for business marketing if you have an online store. Websites like Facebook, Instagram, and TikTok help small businesses increase their followings and conduct in-app sales.
You can post your website URL, product photographs, videos, coupons, and more to promote your store on social media platforms. Social networking may be a fantastic tool for promoting your company’s name, products, and personality to your audience. Because of the unique touches and fascinating stories behind the products, people usually buy from small businesses.
You may make your audience fall in love with you and your items by posting on social media. Make your audience laugh along with you by being foolish, being authentic, and admitting your mistakes. Customers like knowing who they are supporting and buying from.
Campaigns for Email Marketing
Sending out a newsletter or an email campaign are two ways you may use email marketing to promote your company. Both current and potential clients may get emails. It is a fantastic way to interact with your customers and broaden your influence.
Create an email list of people who are interested in what you have to offer, either those who have bought your product or those who have subscribed to your emails. You might provide discounts for signing up, birthday discounts, or exclusive content to persuade people to join your email list.
The simplest way to grow your email list is to provide a sign-up checkbox at the checkout. Without the need to create or install third-party plugins, Ecwid by Lightspeed enables it with a single touch.
Then, start sending emails to customers to remind them of new products, promotions, deals, and discounts. Include any other information about your business that will keep them interested. For instance, if you sell pillows, you may offer sleeping recommendations, such as where to buy pillows!
Certain email marketing platforms provide free plans with a cap on contacts or sends. That could be more than enough when you’re just starting off. When your business is stable and you’re ready to invest in marketing, you can also upgrade.
When you’re ready, you can use Ecwid by Lightspeed’s subscription-based automatic email marketing solutions.
When utilising Ecwid by Lightspeed to send automated marketing emails to clients, there are no transaction costs or membership restrictions. You only have to pay the price of your pricing plan, no matter how big your clientele gets.
In summary
Small internet businesses have swept the globe in recent years. Now, anyone with an idea may launch their own company. There are several cost-effective software options that make starting an online business easier.
You can launch a global online business for little to no money with Ecwid by Lightspeed. It’s up to you to take advantage of the opportunity we’ve given you to launch a business on the cheap.
Why wait much longer? Get in touch with Ecwid by Lightspeed right away to find out how to start your online venture. You won’t even have to pull out your wallet.
