Episode 17: How Much Does it Cost to Start an Ecommerce Business?
Release Date: 05/28/2021
Episode 28: Finding New Customers in Online Forums
Mr Sam Baldwin's Podcast
So you're running an Ecommerce store or you're planning to start one, and you're wondering where and how to find your target customers. Have you tried finding new customers in online forums?
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Episode 27: How to Price Your Products - Pricing Strategies Every Seller Should Know
Mr Sam Baldwin's Podcast
Want to learn how to price your products? In this video, I will show you two eCommerce pricing strategies that every online seller should know.
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Episode 26: Why Increase Your Google Ads Bids if You’re Already Profitable?
Mr Sam Baldwin's Podcast
"Why increase your bids if you're already profitable on your campaigns in Google ads?” I get asked this question a number of times. So in this episode, let's talk about Google Ads bid adjustments and how it affects profitability.
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Episode 25: Different Types of Ecommerce Businesses - Top 3 Ecom Business Models
Mr Sam Baldwin's Podcast
There are different types of Ecommerce businesses that you can create, and you have to choose the best model or method that will work best for your store. In this episode, you’re going to learn the top 3 Ecommerce business models.
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Episode 24: 4 Huge Mistakes that Ecommerce Beginners Make
Mr Sam Baldwin's Podcast
In this episode, I’ll be going through 4 HUGE MISTAKES that Ecommerce beginners make. Stop wasting your money by avoiding these top Ecommerce mistakes!
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Episode 23: Why More People are Setting Up an Online Store
Mr Sam Baldwin's Podcast
In this episode, you will learn the biggest reasons why more people are setting up an online store. Starting an online business is not a walk in the park with all the time, pain, and money that you need to spend, but trust me! It will all be worth it!
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Episode 22: Why is Ecommerce the Future
Mr Sam Baldwin's Podcast
Why Ecommerce is the future? Seriously! With everything that’s happening, more businesses are now moving to Ecommerce. So if you’re not yet growing your Ecommerce store, now is the time to start!
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Episode 21: What is Ecommerce and How Does it Work in 2021
Mr Sam Baldwin's Podcast
You've heard about it. You've seen people in social media flaunting their money and sports car. You know someone who wouldn't stop yapping about his online business and the money his making online! But seriously! What is Ecommerce and how does it work in 2021?
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Episode 20: Can Ecommerce Be Profitable? 3 Steps to Make Insane Profits on Ecommerce
Mr Sam Baldwin's Podcast
Can Ecommerce be profitable? In this episode, I’m going to show you how to make money in Ecommerce and make your store insanely profitable.
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Episode 19: Ecommerce, where to start?
Mr Sam Baldwin's Podcast
Heard about Ecommerce but don’t know where to start? In this episode, I’m going to show you how to get started in Ecommerce and the opportunities that await you.
info_outline How much does it cost to start an Ecommerce business? I’m going to break down all the costs and show you how you can build your Ecommerce store without breaking the bank.
🔴 Subscribe to my YouTube channel for more tips just like this: https://keycommerce.com/Subscribe
In this episode, we’re talking about one of the most crucial questions all Ecom newbies ask! ""How much does it cost to start an Ecommerce store?""
Let's be clear! There is no set budget for building an online store but starting an Ecommerce can really be started for very cheap. You can even start your Ecommerce store for just $100. Yes! ONE HUNDRED DOLLARS!
Let me break down the minimum Ecommerce startup costs:
1. Website
2. Product and shipping
3. Payment processing fees
Ecommerce Website Builder Cost
You need a website which will serve as your main platform to sell your product! But you don't need to stress about this because it's very easy to set up. I recommend Shopify especially if you are a beginner. It comes with a lot of templates so it looks great right away and it has everything you need to start selling. Shopify is also very cheap and you could start running a decent website for $29 per month.
Product and Shipping Costs
You need to pay for this, too. Remember that the cost of your product depends on what you sell.
To give you an idea, usually the cost is going to be anywhere from 20 to 50% of the price you sell the product for.
Here are some of the ways you can sell products:
1. Make your own product
2. Import products and ship them from your home or warehouse
3. Sell someone else's products and have them ship it
Payment Processing Fees
If you use Shopify, they charge you a percentage of each sale as a fee for processing the customer’s credit cards. The fee does depend on your country and how Shopify charges cards but generally it’s 2.9% of what you charge your customer + $0.30.
It’s crucial that you take this into account when you do your profit calculations because this can take a chunk.
If you want to learn more about Ecommerce costs and how to build a profitable online store, listen to this episode now.
🔗 Here are the videos on Average Order Value that I recommend in this episode:
⦿ Building Your Online Store - https://www.youtube.com/watch?v=1Sqfh...
⦿ Profitability Calculations for Ecommerce Stores - https://www.youtube.com/watch?v=5Z1sS...
⦿ How to calculate AOV (Average Order Value) for your Ecommerce Store - https://www.youtube.com/watch?v=yT-_m...
💁 HELPFUL LINK:
Start your Shopify Free Trial here: hhttps://www.shopify.com.ph/free-trial...
🎥 Watch the video version of this episode here: https://www.youtube.com/watch?v=13_g9g44oJs
✅ For tips and tricks on growing your Ecommerce store remotely make sure to subscribe: https://keycommerce.com/Subscribe
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