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Running a side business is an excellent way to boost your income and open up a whole world of new possibilities for yourself and your family. Whether you want to earn more money to save up for something in particular or simply to gain a better standard of living, there are many reasons running a side business can be a great option. But, unfortunately, business ventures you can run from home and still turn over a decent profit can seem few and far between. For many e-commerce business owners, running an online store provides the perfect combination of flexible working and a decent extra income stream. However, it is vital to remember that a business venture that suits some people won’t be a perfect fit for everyone.
Here are some factors to consider if you are weighing up the prospect of starting an e-commerce business to help you decide if it is the right choice for you:
Lots of Flexibility
One huge benefit of running an e-commerce business is there is not the same level of demand for your time as running a bricks-and-mortar store. You will not need to worry about sticking with set opening hours and staffing a store, as your customers will be able to shop with you at whatever time of the day or night they like. This means the majority of the time, you should be able to run your business at times to suit you, enabling you to fit it around your schedule. This level of flexibility means that an e-commerce store can be a practical option if you have kids or a day job to work around.
Of course, even though running an e-commerce store is flexible, you will still need to keep on top of customer queries to ensure that you deliver excellent service. But, as long as you allow time in your schedule each day for this, you should be able to provide excellent service without it consuming too much of your time.
Long Term or Short Term Business Option
Another great benefit of running an e-commerce store is that you are not necessarily committed to owning the business for a specific amount of time. If you reach a point where your business is too busy for you to keep up with, or your circumstances change, you could decide to sell it on. Companies such as Thrasio buy fulfilled by Amazon (FBA) businesses, which could be a practical option to consider if you plan to run your business for a shorter period before moving onto a new project.
Sell Whatever You Choose
One major benefit of e-commerce is there are endless options for items you can stock in your store. If you have a specialist interest or hobby, you can use this to your advantage and stock products that match your interests. If you have in-depth knowledge of the items, it is so much easier for you to stay enthusiastic about your business and deliver the best service for your customers.
