(write an introduction
regarding people way of buying a product wrt online or offline )
E-COMMERCE OR BRICK AND MORTAR STORE
FOR YOUR STARTUP?
If you are
an aspiring entrepreneur and found out that its time for you to dive in, now
you will be wondering how you are going to sell your product with respect to
capital constraints and reaching more customers. Then you will be confused
between going for an online or a brick and mortar store? So, the important
factors which you need to consider while thinking about establishing a startup
by either online or brick and mortar are workplace, cost and customer reach.
Now let’s see how these both rack up against each other.
You need an
office or lease space or even an entire building depending on your business
needs to operate in a traditional business while you don’t need any place to
run your business if its an online thing since all you need is a computer to do
the work for you and you can work wherever you wanted to.
going online has lower entry barriers with very less capital required since in today’s
world you can even create a store at free of cost and also less hands-on time invested
to set it up. Whereas in a traditional brick and mortar store the startup
capital needed is very high, you need long hours of setting it up with yourself
by looking for a location for the store, training staffs to interact with the
customers and looking for marketing ideas to get in more customers.
When you are
going with the traditional way of doing business reaching more customers is a
troublesome process as you are being limited to a specific location and
definite working hours that your store will be operating, on the other hand
online business are not constrained by location and it will be running 24/7
also with an international presence, this makes easier for you to reach more
customers while doing an online business.
Doing an online
business saves you a lot of time and money. While if you can afford to hire
employees, pay the rent for the physical store, keep stocking inventory then a
traditional business may work for you but if you are on a strict budget then
going with an internet based startup is a smart thing to start with.
After you have decided to go with doing your business online then
you will be wondering how you could setup your store and which platform is the
best to power your online store. There are actually two options of doing it
either going with hosted e-commerce platforms or self- hosted ecommerce
Hosted platform means you find a vendor who offer the features of
an ecommerce, sign up for it and start your store, where the software and the
company will host your store with software as a service (SaaS) model. This
usually comes with a monthly fee paid to the software service provider. Self-
hosted means that the company will provide you the platform for you to build
and you need to get your own web hosting.
OR SELF HOSTED FOR YOUR STARTUP?
For a hosted platform you will be getting a nice well-rounded
solution right at your foot steps that implements the best practices. While
here you will be constrained by the customizations since you are not allowed to
customize everything you have over here. You have a limited control and limited
ownership for your own store. Examples of hosted eCommerce solutions are
The biggest advantage of a self-hosted ecommerce platform is that
you are free to customize as you needed with both frontend and the backends.
Here you will have total control and full ownership of your store and you can
establish a unique storefront and offer unique shopping experience for your
store. But you will be having a significant higher development costs and time
invested in it before you make your store go live. Examples of self-hosted
eCommerce solutions are
The hosted eCommerce seems viable when you are small and looking
to get into the business first as it can save you a lot of time, while if you
have sufficient funding, high revenue goals in the future then you need to
think of a self-hosted eCommerce. So, it is always best to have a car for
yourself than depending on a public bus to commute, likewise with vision in
mind and being capable to establish an own eCommerce empire then go with a self-hosted
solution. Then its important to see which
self-hosted solution to go with for your eCommerce. WordPress + Woocommerce is
the market leader for the self-hosted solution so its important to understand
why it’s a wiser choice to go with Woocommerce.