Every day, thousands of transactions are taking place on the internet. Tons of money can be made online. Some people are capitalizing on the internet to generate extra income for themselves on a part time basis. When people think about starting their own ecommerce business, they think that they need to keep their own inventory in a storehouse and take care of the shipping and handling. Well that is not entirely true. There are ways to make ecommerce income without needing to house your own inventory. In fact, all you need in many cases is just a website. That’s it! Here’s how you can do that.
Ecommerce Business Models
Teespring is a platform which allows you to design your own t-shirts and sell them on their website. Teespring will handle all the shipping. Signing up for Teespring is free. You just need to create your own design. That can be done within Teespring itself. Alternatively, you can also outsource the design creation to graphic designers on Fiverr for as low as $5. If you’ve got an existing following on social media such as Facebook fans, then getting sales should not be difficult. Create a design that your following will like and that can generate you some decent profits.
Shopify is a website that allows people to create a storefront so that people can sell their own goods. Now I did mention that you can make money with ecommerce without your own inventory so you are probably wondering how Shopify can be used. Simple. You could arbitrage. This is how Wikipedia defines arbitrage:
"In economics and finance, arbitrage is the practice of taking advantage of a price difference between two or more markets"
In essence, you are selling other people’s products at a higher price. For example, if you find a vendor who is selling novelty pens for $10, you could list the pens on your Shopify storefront for $15. When you get a sale on your website, you just need to make a purchase on the vendor’s storefront and send the item directly to your customer. This is an ingenious online retail business strategy that beginners can use. However the main problem is the lack of automation. You need to manually enter your customer’s details when purchasing from the vendor. If you’re getting 50 to 100 customers a day, then you should consider hiring a virtual assistant.
Your Own Website
Having your own website means you will have more freedom and control to put whatever you want on it. You can promote your t-shirts from Teespring or you can arbitrage, or you can do both. The choice is yours.
I recommend buying an online course so that you can learn more about generating ecommerce income. As long as the steps taught in the course are proven to work and you take action regularly, I can virtually guarantee you will see good results.