Hello Jacky, I completely agree with you that it's hard to start an e-commerce business now. And a lot of newcomers fail within a year. Opening any business is full of risks – that’s no secret. The major stop-factor here is the fear of money loss. The more money a business owner contributes – the stronger the fear is. But I still advise you trying to tap into e-commerce. It has some incredible advantages in comparison to brick-and-mortar business:
- Less Risk in Comparison With Traditional Retail
In my opinion, one of the most crucial benefits of e-commerce business is that it requires minimum funds to get started. By taking your business online, you’re absolutely free from such expenditures as:
Leasing commercial real estate – no brick and mortar means no rent payments.
Renovations and fixtures – no need to worry about preparing any new retail space for work!
Managerial and inventory costs – initially you can do all the managerial work yourself.
Truthfully, that’s the main reason opening an e-commerce store is so popular among business newbies – risks are fewer, and the amount of money required for opening and running a business is less.
Potential Income 24/7/365
With an online shop, you can enable your customers to shop around the clock and from the comfort of their own home. It’s a win-win!
The geographical restrictions that are obvious and inevitable for a physical store, have no standing when it comes to e-commerce! Further, some goods or services may not be available locally, and in such cases, an e-commerce store works like a portal into a great world of access to all of one’s desired products! Visibility over a global market is a great chance for your business to be discoverable and accessible around the globe. With an online store, you can sell globally and forget about any boundaries.
Here you may find more about e-commerce advantages and, OF COURSE, some disadvantages - https://whidegroup.com/blog/pros-and-cons-of-e-commerce/.
Good luck with your business!