Tag Archives: product

Where To Sell Your Product Online – A Review

Some estimates suggest online shopping is expected to grow 20% each year. More and more customers are purchasing online with estimates that 7.5% of all retail sales are made online. If you are a small business owner, how can you sell your product online, even when you are sleeping?

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Source: eyongmei.com

Whether you choose one over the other depends on which choice will suit your individual business the best. The price can vary depending on number of transactions depending on the website you choose.There are a many places where you can open up your online store. I will talk about 4 of them here: Shopify, Volusion, Etsy, and Ebay.

Shopify – http://www.shopify.com

Fees

  • Basic costs $29 a month and ranges to $179 a month for an unlimited package.
    2.9% -2.25% + .30 online to 2.7%-2.15% swipe to + $.30

Pros

  • Easy
  • Quick
  • It features to help focus marketing campaigns on your target market
  • Flexible options to help grow your business.
  • Receive your own blog on your website

Cons

  • There are many additions that cost extra

Volusion – http://www.volusion.com

Fees

  • 5 plans ranging from $15 – $195 a month.

Pros

  • Competitive monthly fees.
  • No transactions fees.
  • 120 free templates
  • Plan includes a mobile and Facebook store

Cons

  • Hidden bandwith fees. If your store receives a lot of traffic, you have to consider the bandwith fee.

Etsy – http://www.etsy.com

Fees

  • Each listing on Etsy costs $ .20, but is only charged when the item is sold. Once the item is sold, there is a transaction fee of 3.5% of the item price. Remember to add shipping

Pros

  • It’s user friendly
  • Reputation
  • Community of buyers who support small businesses

Cons

  • There are many shops on Etsy
  • They all look similar
  • Hard to brand on Etsy
  • Fees grow with your business.

Ebay – http://www.ebay.com

Fees

  • Fees can range from basic at $15.95 monthly based on a yearly contract up to Anchor at $179.95 per month * Paypal fees are in addition to these fees as well as shipping.

Pros

  • Once you’ve got a customer in the door (virtual), you ‘ve got a chance to repeat business through excellent service.

Cons

  • Fees

  • Infrastructure ( The website is set up to make the company money)

  •  Keeping on top of your inventory (Indication of number of sales can be repeated and get confusing for the owner)

It is really important for you to do your due diligence. I’ve included the website addresses. It is very important that you know the number of potential transaction in order to make the best decision of which online store works best for you and your customer.

 

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How to write a business plan – Part 2 of 3

legal imagekeys of all colours
In this post, we will work on our Operations Plan. If you have completed your first portion of the plan, the Sales and Marketing plan – great work! If you need a review – go back to part 1 of How to Write a Business Plan.

In the operations plan, there are a few major areas that need to be focused on, which are the following:

A. What will you need to do to open your doors, or virtual doors?

B. How will you make your product or service?

C. Who will you hire?

The operations plan is how you will actually run your business. What will you do on a day – to – day basis? There are many details that some entrepreneurs haven’t spent much time planning on so it is paramount that when you are planning for the future, you are diligent in researching and predicting what could occur when you are open for business.

Go down to City Hall and find out what regulations you need for your business for your city, for example, (A business license). Before you begin the process it is important to consider which legal aspect of business suits your needs.  I am not a lawyer, so it is important that you know what legal form of business your company should take. It will fall along the lines of Sole Proprietorship, Partnership or and Incorporation.

 

the law

Which works for you best is your decision, I highly recommend you talk to an accountant and lawyer to find out which form has the highest advantages  for your specific situation. There are pros and cons to all types so your first task as owner is finding out which legal form  has the best fit; sole proprietor, partnership or incorporation.

The next thing to focus on in your operations plan is: Where will you do business?  From your kitchen table, shared office, coffee shop, or on site.

 

doing business from home

Let’s move on to something entrepreneurs really could focus on a bit more, that is seasonality. What is typically a slow season or busy season for you? I’ve had people from all kinds of business know when they would be busy but do absolutely nothing to plan and ramp up for it. If you will be very slow during a certain month, will you need the same number of employees, or supplies?

seasonality more

Mention in your operations plan – any permits, regulatory items, certification you might need to legally run your business.

Also, who is going to watch your books? Where are you getting your money from to run on Day one? The bank, crowdfunding, or available grants?

bank loan    crowdfunding

 

Are you making something from scratch? Who does that and where? How much does it cost? How much will you charge and why?

 

handcarved

Who is going to run the show? Are you working yourself?

The important parts of the operation plan are WHAT? What needs to occur? TIME? When will you do the job you are going to do and how long will it take?  COST? How much does it cost for materials and wages?

project triangle

These are some key components of an operations plan. The legal, human resources, and production part of the plan need to be detailed. Here are some great resources in Canada:

 

http://www.bossyourselfbc.ca/

http://www.resourcecentre.gov.bc.ca/

http://www.bizpal.ca/en/

http://crowdfunding.com/

and State Side

http://www.whitehouse.gov/economy/business/startup-america

http://www.foundationcenter.org/

https://www.crowdfunder.com/crowdfunding/united-states

 

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