How To Earn E-commerce/FBA (Business Ideas 4)

    If you ever wanted to set up a business online, e-commerce is probably the first thing you should consider. E-commerce in India has been experiencing explosive growth and shows no signs of slowing down. It is a huge pie and there is an opportunity available for everybody.

REQUIREMENTS

-Company and LLP registration

-VAT registration-A payment gateway

INVESTMENTRs. 1,00,000 and above

MARKET SIZE                      CAGR                               SEARCH VOLUME

Expected to reach                           51%                                                       1,53,800

Rs. 14,20,000 crore

by 2026

There are many ways in which one can set up an e-commerce store:

(a) You can set up your own website and sell the products you source or manufacture. In this case, the entire technology infrastructure and end-to-end supply chain will be your responsibility. You need to have a point of sale, payment gateway, logistics partners, a full-stack web developer, and other resources required to run a successful e-commerce store. You will need to take great pictures of your product(s) and offer a seamless user experience. This does require a lot of investment of work but it is better than running a brick and mortar outlet.

(b) You can choose to sell via marketplaces available on social media platforms such as Facebook and Instagram. This has been a particularly popular choice in the textiles and consumer electronics categories. Many sellers from tier I and II cities have been able to reach a large audience across the country with the help of social media marketplaces.

(c) You can choose to partner with Amazon as part of its FBA program. FBA stands for Fulfilled By Amazon. In this case, you invest in the merchandise and inventory, and store it in Amazon warehouses and fulfillment centers. When the orders come in, Amazon ships these products to your customers on your behalf. In this case, the entire order is handled by Amazon. You will be able to take advantage of all the infrastructure that Amazon already has in place. You do not have to worry about things like driving traffic to your website or shipping. Amazon charges a small fee for letting you partner with it as an FBA associate.

Irrespective of which route you take, with the right business strategy, all of them can be just as profitable.