The ecommerce business is witnessing a widespread growth in India, backed by the penetration of the Internet and the booming smartphone market. The availability of affordable internet connections is working as a boon for the ecommerce industry, thus inspiring even small retailers/business owners to step into the ecommerce world. People are widely using online shopping. Therefore, starting an ecommerce business is in India is easier than setting up physical distribution, plus it is highly scalable.
Are you thinking of starting your ecommerce business?
If yes, you would definitely need to have answers for some of the most important questions concerning ecommerce business:
- What product niche do you want to list in the ecommerce store?
- How many products do you want to offer?
- Which market segment you want to target?
- When it comes to ecommerce store design and development, what platform do you want to opt for- a custom platform or a pre-built platform?
- What is your total budget? How much percentage are you willing to invest for the platform?
Here’s your quick guide on how to start E-commerce Business in India-
1. Finding a product to sell and determining your business model
The first step to building an ecommerce business is to know what products you want to sell. This is often the most challenging part of starting a new online business. There are hundreds of products and dozens of categories. Choosing your niche is the most important step in opening your online business. Start this process by identifying successful companies already working in this space.
Make sure that the area is competitive – an absence of competition usually indicates that there’s no market, either.
At the same time, don’t pick an overly crowded niche, however, and skip anything dominated by major brands. If you’re having trouble with this, drill down further on what you want to do – the more specific you are, the less competition you are likely to face.
There are two types of Business Model for you to choose from: a single vendor or multi-vendor ecommerce store.
Single vendor involves only 2 entities viz a seller and the customers and multi-vendor involves 3 entities viz admin, seller and the customer.
2. Establishing Your Brand & Business
For a successful business, you need a brand that connects with your persona. Once you have decided what products you will be offering, your niche and the business model, the next important step is to establish a brand that connects with your persona.
Identifying your persona makes building an ecommerce brand easier. This includes:
- the brand name
- colors of your brand
- your company logo
- the typeface/fonts to be used
- your total budget, etc.
This leads the path to another important step in the process of ecommerce business establishment and that is legal registration of your business.
3. Select The Best Business Structure and Register Your Business
You’ve got several options when it comes to your business structure:
- Sole Proprietor
- Partnership (if you have a business partner)
Registration of Ecommerce Business in India depends on the type of your business model. Before you get started, you must get your company or LLP registered so that you can get a bank account opened in the company name and obtaining GST registration documents easily. You’ll need an Employer Identification Number (EIN) to open a business bank account and file your business taxes and you need to have certain business licenses and permits. Check with your city and state to see what sorts of sales tax licenses or home business licenses you need, and get those approved before you start operating.
To know more about business registration, you can refer sorted pixel.
4. Create Your Online Store
Once you’ve legally registered your business and started thinking about design, you need to register your domain name and any redirect URLs that might be relevant.
The design you chose for the online store needs to be compatible with your ecommerce software, too.
There are literally hundreds of ecommerce shopping cart platforms. Choosing the right ecommerce software is not easy. You need to carefully evaluate things like loading speed, features, compatibility with different payment gateways, compatibility with your business structure, your web developer skills, SEO-friendly features, and more.
One of our favourites is WooCommerce. As an ecommerce service provider and wholly a Website Design and Development Companies, we offer you much needed support in all the stages of your online business development, allowing you to upload product images and manage the content of your Ecommerce Website more effectively.
As you move on to the design and development of your ecommerce business website, you can either opt for a custom build platform or a pre-built platform. A pre-built ecommerce solution refers to a set of themes/templates are created by business entities to meet the needs of a specific market. They are designed with a customer-centric approach that allows anyone to set up an online store with ease. However, a custom build platform is always a better option as it lets you customize the entire design of your ecommerce store as per your business requirements.
5. Payment gateway
Setting up your online store is much more than adding your products and content. You need lot more.The next important step would be to have a payment gateway integrated with your eCommerce website to allow customers make their payments through credit card, debit card, internet banking, etc. With digital payment gateway set up in its place, the customers can make the payment online which automatically gets transferred to your business’s bank account.
To find more about various payment gateways for ecommerce websites, refer bigcommerce.com.
Other than that you need to get your email marketing and automation set up as well.
6. Ecommerce Business Shipping Solution
Your online shopping portal is incomplete without a shipping solution. Once you receive an order you are also required to ship it to your customers. And, without a reliable shipping partner, shipping products to your customers might be a hard task. The growth in the ecommerce business has definitely benefited the shipping and logistics activity. So, get in touch with your shipping partners and decide the rates that would be charged and paid by you for shipping different quantities of products. This allows you to enhance the overall customer experience.
To find more about ecommerce shipping, refer bigcommerce.com
7. Attracting customers
Once you are all set, you need to attract customers to your ecommerce store. You need your target audience to know about your store. SEO is still popular and a “must be done” way to do so.
The top ecommerce sites invest heavily in digital marketing. You can also opt for such digital marketing for your ecommerce store as well. Also, stay updated with the digital marketing industry and marketing tips like sponsored content, social media, pay-per-click ads i.e. Google PPC Ads, Facebook Ads, Instagram, or a combination of strategies to attract your target audience.
Starting an ecommerce business is a great idea especially now that ecommerce industry is booming. You need to make sure to frame and implement your ecommerce marketing strategies carefully.
Ready To Start Your Online Business?
We at Regur can help you through the entire process of your ecommerce store design and development including creating amazing customer experience, managing the content, integrations etc, followed by proper support and maintenance .