Blog Post How To Startup Your e-Commerce Business

How To Startup Your e-Commerce Business
Feb

7

2014

How To Startup Your e-Commerce Business

 

 

by Tito Philips, Jnr.

The traditional cost of developing an e-Commerce site is so large that most small businesses are unable to afford one. And then follows the cost of successfully marketing the existence of such site, which is also quite expensive. So what’s your best option?

 

There are a couple of e-Commerce sites that now serve as online marketplaces where buying and selling is done between individual buyers and sellers or corporate buyers and sellers. The popular ones are what is known as classified sites, popularized by craigslist. Other popular examples are AlibabaDHgate and many others. These online marketplaces are designed to showcase your goods like you would normally do in a physical store. They have huge marketing budgets that allows them reach as many people both online and offline.

 

A typical example and the pioneer of such online marketplaces is eBay –the world’s largest online marketplace. The success story of several eBay merchants/sellers who turned millionaires as a result of trading on the eBay platform is enough proof that owning a shop online works. eBay has its branches in so many countries worldwide, but not yet in Nigeria.

 

Fortunately, there is an eBay clone now in Nigeria and it’s currently the largest online marketplace for buying and selling the smart way –it’s called Kaymu. The parent company; Rocket Internet is known worldwide as the leading e-Commerce incubators and have successfully started over 100 clones of successful internet-based ventures worldwide. As a matter of fact, the eBay clone they started in Germany did so well that eBay couldn’t help but buy it over!

 

I have previously written about two of their e-Commerce startups in Nigeria, Jumia and Hellofood. Being an entrepreneur and serving a community of unusual entrepreneurs, none of the previous two offers a solid business opportunity like this one. To show you how big Kaymu is, even Jumia has a shop on Kaymu. Recognizing this business opportunity, I decided to give it a shot last two weeks and opened up the online version of my boutique business on Kaymu. Guess what? I sold 3 shoes within the first week I listed them on Kaymu auctions!

 

 

Here’s How Kaymu Works For Sellers/Merchants

 

  • A seller lists an item [new or old] on Kaymu for FREE, almost anything from smart phones to laptop accessories, books to rare coins, etc.

 

  • The seller chooses to accept only bids for the item [an auction-type listing] or to offer the “Fixed price” option, which allows buyers to purchase the item right away at a fixed price.

 

  • In an online auction, the bidding opens at a price the seller specifies and remains on Kaymu for a certain number of days. Buyers then place bids on the item. When the listing ends, the buyer with the highest bid wins and gets the item.

 

  • In a “Fixed price” listing, the first buyer willing to pay the seller’s price gets the item.

 

  • Arrange with the buyer a suitable delivery option such as; shipping, physical pickup or payment on delivery = sales!

 

 

Here’s How To Own A Shop Online FREE Using Kaymu

There are 2 options you can start from depending on your preference.

 

First, if you are a retailer who already buys and sells offline through a physical shop, Kaymu is simply your online shop to showcase what you are selling already offline. If you fall into this category, Click here to sign up for a FREE online shop That’s what I did with my boutique business since I already own a physical store where I sell unisex clothing for male, female and kids. Visit the MADphilips shop online and do patronize us.  We have beautiful shoes for everyone; male, female and children!

 

Second, if you don’t own a shop offline and would like to take advantage of this opportunity by selling other people’s goods online through the Kaymu platform, follow the steps below.

  • Decide any product [new or fairly used] of your choice that you would like to sell on your online shop
  • Look for a company [manufacturer], store or seller around you who would like to increase their sales [trust me, everyone does]
  • Introduce yourself as an internet marketer who can help them sell more via the internet through your online shop
  • Negotiate a discount on the product[s] so that you can make a profit selling them on your online shop
  • Take clear pictures of the product[s] with a phone or camera to display on your online shop
  • Head over to your online shop and list the product[s], the pictures and their prices so potential buyers can contact you directly via email or phone
  • Arrange with the buyer a suitable delivery option such as; shipping, physical pickup or payment on delivery = sales!

 

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