This feature can be real, a profitable, and an eye-opener revelation for all the aspiring businessmen or start-ups for that matter.
Here is the secret to doing a high profit, 24 hour business [without you being busy 24 hours], and fewest operations in the workday.
MODEL A- SHOWROOM/ OFFLINE BUSINESS
Look at the basic MBA approach to run a business, so far its wings are production, marketing, HR, finance. If you are a marketer, they buy the product from a manufacturer. Then you need a showroom/shop that is too in a suitable locale, décor/display, the site branding, efficient salespeople, and further advertising for attracting walk-ins. After this, the sale starts and then eventually the conversion into sales. Then there is the competition that is ready to snatch the share of walk-ins. A continuous insertion of advertising to keep the recall high. All this you do for the city where you are located or the province of the city. Then at the end of the financial year, you find out the net profits after deducting all the expenses that too pre-tax.
MODEL B- ONLINE STORE BUSINESS
Here you don’t need a showroom, sales staff, site decor, and the operational rigmarole every day. Instead, you have to begin with an insightful research a website [you need an equal E-Commerce Website Development Solutions provider that has a vision and discretion about online business].
The site can describe the credentials of the company, product catalogue, and pricing. Here, it can be directly from manufacturer to customer/buyer or marketer to buyer, thereby saving all the supply chain, steps, and costs. The Geographic’s have no limit to the reach of the store, and the product is available 24×7 to the buyer.
Specifically, what you need to do for the online store is clubbing of e-commerce facility- that is the payment gateway. Thus, the purchase amount is paid by the buyer by debit/credit card and goes to your bank account by this route.
They inform you the next second when the product is selected and the buyer makes the purchase. Further, you have to have a contract-based courier service to deliver the product to the buyer’s doorstep.
Online store or sales company concept has been the boon for the stresses economy- it is indeed an anomaly- a suitable deviation from the regular store mode or ground sales and far more hassle-free and profit-making model.
Look at the boom of online stores in many products from beauty to textiles, FMCG, groceries, electronics, gadgets, financial services, and more.
This year Amazon, Flipkart has generated record-breaking Rs 19,000 cr in festive sales, Flipkart has taken a lead.
The list of online stores in India is growing every quarter, so is the number of buyers who are opting for it.
Bright Pixel, a Pune-based Web Design Agency, is having an expert team in web design, online market research, and proficient e-commerce solutions. The agency also does effective digital marketing at the state, national and international levels.
The research-based, strategic web, e-commerce solutions has given amazing results to the clients, keeping their cash register ringing, and of course, fetching a higher ROI.
A. SHOWROOM SALE, OFFLINE STORE
- Sales staff
- Site decor/branding
2. Geographical Reach
only to the city or the area/segment of the store location
3. Work hours showroom timings and weekly holiday
4. Customer time, money, energy spent – coming and going
5. Time-consuming for the customer involves communication
6. Customer effort and expenses to take the product home
7. Prices generally higher because of showroom expenses
B. Online Store
- Website development- one time for a long term
- E-commerce payment gateway- one time
- Management and update of product catalog – per month at a moderate cost
- Courier delivery
- Website SEO and digital – per month moderate cost
- Website leads, purchase monitoring staff
2. Geographical reach
The thrust area city, state, country, or the whole world