As the internet grows gradually day by day, we become more dependent on it in our daily life. Online shopping is trending with the help of globalization, especially in the period of this pandemic. The U.S is the largest consumer market in the world. According to researches, consumers spent more than 800 billion US dollars online within the U.S last year, and it is predicted to be higher this year. Due to such opportunities, more people are thinking about starting their own online businesses. However, opportunity brings challenges with it at the same time, and many beginners are struggling with how to start a career. Following I will show you how to start an online business in the U.S.
1. Choose a platform and register as a seller
The first thing you need to do is to choose an eCommerce platform. There are many different platforms to choose from, for example, Shopify, Woocommerce, Shopee, etc. Among them, Shopify is more popular because users are able to build and design their own online stores with all the features it provides.
After you choose the platform, you will have to do some preparations in order to create your own online store. Many platforms, for instance, Shopify, Amazon, require users to have a U.S.-based bank account and a U.S. business registration in advance before register as a seller. However, this requirement blocks almost all starters from outside of the U.S. It is impractical for a foreigner to travel to the U.S. just to open a bank account; the pandemic restricts travel recently as well.
Fortunately, companies like Mercury moves the barrier for you. Mercury is a banking system built for eCommerce; it provides the service for people, including non-U.S. residents, to get FDIC-insured bank accounts from anywhere in the world. Not only that, but Mercury can also manage your domestic and international payment and deposit in one place with little to no fees. Once you are registered and opened a store on the platform, you are ready to proceed to the next step. Mercury has a special offer right now, you could get $50 if you spend $2K on your debit card within 90 days of account approval.
2. Find a niche
The niche you choose should be focused on an area you are interested in and would be better if you have experiences/knowledge in such an area. It would become hard to market your products if they range widely. And your experiences could help you to select the better products to sell in the market, and you should remember that choosing what products to sell are crucial to whether your store will succeed in the future.
Make sure the products you pick can attract customers with active online shopping habits. For instance, some older people are not too familiar with online shopping, which means products that are targeting these senior citizens might be more difficult to market. Choosing products that are not available locally could be a good option. The local market could have a high demand for the products if you are lucky, but the risk still exists if not many people have the demand. 12 Websites to Find Trending Products for Dropshipping. This article is also helpful for you when choosing trending products.
Now you are almost done with the pre-work, and the next step is to choose the business model.
3. Keep inventory by yourself or dropshipping?
All beginners know they can do the business via holding inventories by themselves, but what about the other option? What exactly is dropshipping? And the advantages?
Dropshipping is an online business model that allows dropshippers to sell products without stocking any inventories. Dropshippers purchase the products from a third-party supplier and the supplier will directly send the parcel to the final buyers, which means that dropshippers will not directly deal with the product any time in the process and they do not need to worry about the shipping either. With dropshipping, running an online business becomes much easier. You can save a lot of capital by not worrying about managing and stocking the inventories; the supplier will do the packing and shipping for you as well. Thus, dropshipping tends to be the more popular eCommerce model in recent years.
4. Find the suppliers and design your store
No matter which business model you choose, finding reliable suppliers is an important part in the field. A good supplier could provide you with high-quality goods while keeping the price low, but how to find those superior suppliers? This is the key to a successful online business to some degree. Most beginners do not know where to find suppliers, especially if they want to sell different products that are provided by different suppliers. How to Find and Choose Good Dropshipping Suppliers? This article can help many new online entrepreneurs to start with finding suppliers. There are also companies like CJDropshipping (AKA CJ) that can play the role of a supplier for dropshippers. Moreover, CJ has a platform specifically built for worldwide dropshippers that can provide one-stop service for dropshippers.
Now you are almost done. After choosing your products and suppliers, you will need to build your online store. Shopify has many built-in features for sellers to design their stores in order to attract customers. That is another reason why Shopify is the more popular eCommerce platform.
You are ready to sell your products. The challenge now turns into how to find customers. Depending on where you are and what you sell, the same marketing method can have completely different results. What Are The Marketing Methods? There are many different ways of marketing mentioned in the article, and every method has its pros and cons. You could find the most suitable way for you to market your products.
Although eCommerce is growing rapidly these years and more people start to benefit from it, there are still some challenges along the way. However, with the help of all the information given in the articles above, your online business dream is within reach.