Last year, there were over $1.9 millions spent on ecommerce purchases in Canada alone. According to research, the growth of e-commerce is coming not only in the volume of purchases, but also the breadth of goods and services that Canadians are purchasing. Canadians report purchasing clothing (42%) and travel (40%) online in large numbers. These studies and surveys demonstrate the rapid shift that consumers are making towards online purchasing in addition or as opposed to traditional, in-store purchases.
As ecommerce sales continue to rise, there’s more and more demand for ecommerce businesses to provide the products and services that consumers are looking for. Whether you want a side gig or are looking for a replacement for your full-time job, an ecommerce business has potential.
Reasons You Should Start an Ecommerce Business
There are a lot of reasons that you should consider starting an ecommerce business today, but here are a few:
You Don’t Have to Conceptualize, Manufacture, or Even Stock any Products
Depending on the type of ecommerce business you choose to start, you may not have to come up with a product idea, manufacture a product, or even stock any product at all. For example, when you start a drop shipping business, basically all you need is a website and a dropship supplier—no warehouse, product, or office space is necessary. That means that a lot of the cost and effort of starting a business is removed; you can focus on marketing and growing your business instead of getting bogged down with other details.
Ecommerce Startup Costs are Quite ManageableAs mentioned, the cost of starting an ecommerce business is a lot more manageable in comparison to the cost of starting a traditional company. Since the majority of the cost of an ecommerce business is in the cost of the platform and the website, you can get started for a few hundred dollars instead of the average $30,000 or more it costs to start a traditional business.
There are Plenty of Platforms and Plenty of Support Out There
When you start a business, there’s a lot of learning by trial and error, and there’s a lot of research that needs to be done. In some ways, though, starting an ecommerce is slightly easier since there are so many different platforms that you can use and so much support available to walk you through it. Platforms like Shopify, Magneto, YoKart, BigCommerce, and many others have working platforms ready for your use, and there are plenty of blogs that offer how-tos and great advice to help you get your ecommerce business up and running quickly.
You Don’t Have to be “Open” to Earn Money
In a traditional business, you generally have to be open to accept orders, make purchases, and earn money. When you do an ecommerce business, though, you can earn money 24/7, even in your sleep. So, instead of focusing on getting customers into your store, you can focus on marketing and increasing your Instagram followers to bring in more business no matter what day and what hour.
In Many Cases, You Can Operate from Anywhere
Because there’s not typically the need to purchase office space, get a warehouse, keep inventory stocked, or ship product, running an ecommerce business will often give you the chance to work and operate from anywhere. This means that you can take that long-awaited vacation without having to take any time off, or you can watch your kid’s game while keeping things running from the bleachers.
There’s a Need in the Space
Although there are many ecommerce businesses out there already and many more opening up on a regular basis, there’s still a need in the space that needs to be filled. Online shoppers want niche products and services, so there’s plenty of opportunities for you to get involved, establish yourself, and set up your business for long-term success.
You Get the Chance to Own and Run Your Own Business
Many people dream of the opportunity to own a business of their own and enjoy the freedom owning a business brings. Even though owning and running a business is a lot of work, it offers freedom, control, flexibility, and financial benefit that working for someone else doesn’t. An ecommerce business is a great way to break into self-employment and make the transition from career to dream job.
Ecommerce is on the rise, making it the perfect time to start an ecommerce business of your own. With startup costs relatively low, the ability to work from anywhere, and the high earning potential, there’s no reason not to take the leap and become your own boss by starting an ecommerce business now.