There are so many avenue’s that you can take once you’ve selected a drop shipper. These are things to think about because they are very important to your business and it’s success. The very first thing should be the type of store you want. Do you want a department store with many categories from all product types? Do you want a store that is all about candles? Candle holders, candle lanterns, candelabra’s, candle chandeliers and candles? What if you just want to sell a type of decor. Nautical, Old World, Cottage style, Shabby Elegance, Country French, Western and etc. You could sell collectibles or outdoor decor. There are so many choices. So this is very important.
Next, your name. The oh, so important name. Let’s say it is a candle store. Say your name is Sherry. Do you want to name it Sherry’s Candles? Candles by Sherry? Or do you have a name that is clever such as The Wax Factory or Candle Scentsations? Maybe a place? The Chateau? Before I set certain on a name I would check to see if it is available as a .com. What I mean is websites are found a lot easier when they are a .com instead of, say .net. http://www.The Chateau.com . You may not think you are going to use a Domain, but it would be wise to have one. Your chances of being seen are many times greater. You can go to numerous sites to pick out a name or “Go Daddy’s” where I prefer because of their customer service. Your name will be around $12.00 a year and then higher once your established. I will explain this in my next blog.
Now you have your name and type of store…how do you want to sell? There is volume selling, constant sales and for profit margin. Say you want to make $500.00. You may have an item that cost 10.00. You may mark it to sell for $12.00 so you can sell them quicker. You could sell more of them faster. Maybe you sold 150 of them, at $2.00 over the cost. Maybe you charge $30.00 a piece and sell 10 of them. Maybe you show that they are $20.00 now on sale for $15.00. This is purely psychological where the customer thinks they are getting a great deal. You would have to sell 60 of them. This is purely up to you. The market will usually dictate some of the price. You can’t always get a great price. Let’s face it you are competing against a ton of stores.
Next your store. If you are going to sell your items at a higher price, your site needs to be fancier. More luxurious. The total look of your site might just mandate how much you charge.
Next blog we can get into different levels of domains and store design ideas.
I hope this gives you something to think about as owning your own store is exciting. If you start with a firm foundation and build up, you will be glad. There is nothing harder than renaming your store 10 times and not losing customers and website standings. This is truly like tearing down the bricks and walls and starting fresh. It can be done, but much care must be taken.
I hope during this time, you have a blast deciding what you would like in a store. It is like a recipe without the measurements. It takes a little bit of this, a little bit of that and a whole lot of dedication.
Let’s make your dream a store and your store a dream come true.