Deciding What To Sell Online?
Decide What Products To Sell Online.
Find out which are the best products to sell online and from home.
Learn about the biz opportunities and challenges you’ll find when selling the different kinds of products.
Kinds Of Hard Goods To Sell Online:
The best hard goods to sell online are the “Hard to Find” only. One of a kind product that cannot be found anywhere else, either online or off have the best chances.
For instance, unique handcrafted products or exclusive artworks targeted to the high-end consumer. These kinds of products you can sell on your website and from home. There is no need to rent space to physically stock them. Keep in mind it is very important to focus on a niche market.
This could become a very profitable business as consumers in this market (high-end) are price-insensitive and there’s not much competition. This means they are willing to pay more for a product they perceive has a high value. Remember though, the value Must Be There.
Selling Your Own Products.
Unless you sell via a drop shipper or have a very unique product, sell hard goods online. In general, hard goods are not the best products to sell online. This is a very high risk and expensive way to start an online business.
There are many potential and unforeseen costs associated with this business model as compared to selling digital products.
Some of the many downsides are: packing and shipping, stocking, materials handling, payroll, quality control, and customer service like handling complaints and product returns.
Many aspiring entrepreneurs feel attracted to selling hard goods online. However, large-mainstream companies are already selling these products online and off. So, the chances for small biz owners are very slim.
It is better to focus your efforts on areas where you can succeed. Remember? the best products to sell online are digital products, or services, and information. Even if they aren’t your own. You may sell from other merchant’s for a commission and these are still the best because these kinds of products and services merchants pay better commisions than those who sell hard goods.
However, if you are able to create or source (from artists or artisans) very unique hard products, this could be a great opportunity for you. Make your products to sell online with truly high value and one of a kind.
Next, build a niche website that sells, then, attract targeted customers to your site, and be what your target market wants. Finally, offer a no questions asked money-back guarantee.
Selling Via Affiliate Marketing Programs.
Other products to sell online are via affiliate partnerships which carry less risk to none. Selling hard products from other merchants is a very low-risk way to get started. This model if well done could become your major source of income.
At the same time, it helps you start testing waters online and see what sells well. With this model you’ll receive commissions on sales generated from your website. However, commissions for selling hard goods are way lower than if you sell digital products.
The advantages here are that you don’t carry any inventory and won’t need to handle customer’s complaints or returns or any other risk. All you have to do is promote sales. This is probably one of the best online business opportunities to start up. Learn more about affiliate marketing network programs here.
Selling Via Drop Shipping.
You send your website visitors to a virtual store with all of the drop shipper’s merchandise and customers can buy from there. You don’t have to buy stock. All you have to do is send the purchase orders to the drop shipping company. They handle almost everything from there.
However, beware as there are some companies that don’t handle complaints and product returns. They will replace the product, but won’t handle complaints and paper work if returned. Another disadvantage is that you must be a legally registered company to apply to their program.
A great advantage is that your income potential is greater here as compared to getting commissions from affiliate parnerships as explained before.
If you want to sell hard goods online via dropshipping, this is probably a good opportunity for you as a home business owner. You’ll enjoy greater margins. There’s much less risk that if you do it on your own. Just keep in mind that it’ll require hard work and determination to make it work.
The wonderful thing about doing this online is that you’ll have access to market research on real time, and plenty of other resources to be successful in this business model.
In addition, this way you won’t be bearing all the risk alone and enjoy great support. Remember also that to apply for participation in these programs your business needs to be legally registered.
Sourcing from third parties.
Other products to sell online are via a third party where you can customize your our own products using their production platform. Without any investment on your part you may create and customize your own hard products and don’t need to keep stock either.
You can upload a picture, illustration or other kind of graphic and create mugs, t-shirts, bags, posters, stationary and many other products using your own art.
You may also create your own online store using their platform. See next store? I am selling products customized using my own ethnic-inspired designs. Create yours and start selling your own creations with Zazzle!
Always keep in mind there’s no better way and low risk to achieve great income, flexibility, freedom, and total control over your business, than selling your own knowledge-based (digital) products. However, there’s great flexibility when you have a website because you may diversify your income streams.