Start With Your Business Name The first thing to do after you decide what you want to sell, of course is choose a fabulous, memorable business name that no one else is using. If you form an LLC or corporation, this will happen automatically in the state where you file your paperwork. The design of your eCommerce site may be the biggest business expense you have.
The internet accessibility has increased manifold with even simple android phone allowing its users to browse the internet through a simple application. These aspects have made it essential for many retailers to invent in an online store for addressing the need of the virtual shoppers.
Hence, many businesses now think that it is wise to start doing online business in India. And with the number of mobile users on the rise, a proportionate increase in the number of online shoppers is expected. So if you intend to reach a larger population, then having an online store is your best bet.
However, there are a few important aspects which are to be addressed before you start eCommerce business in India. So, if you do not have a running business already, then you need to figure out a business that would not only be feasible but also ecommerce business plan india profitable.
Such an idea should also be a scalable one.
It should however be noted that not all businesses that operate from a brick and mortar store can be carried out online.
An example of this would be an ice-cream store. Although, it still can be worked out, the logistics may not be feasible in all cases. On the other hand, many businesses which people thought could not be done online are having a higher business online. Online cake and flower stores are a great example for this.
Hence, it is vital to have a robust business plan before you start eCommerce business in India. In simple terms, an ideal business is the one which is easily manageable, has a good profit margin and can be expanded with little effort. If you have a business idea which can be carried out online, then first talk to your peers, meet up with other online business owners and understand the basics of online business from them.
You should also know about your competitors already existing or the probable ones in future to evaluate whether your strategy is different from them or not. If you are planning to offer online option for your existing business, then several aspects would already been taken care of; especially, the legal requirements.
There are seldom additional expenses for maintaining your inventory or accounts. Nevertheless, you may need a separate office to ensure smooth running of the online store. The next aspect to consider before you start eCommerce business in India is its operation pattern. The question to be answered here is whether you are going to manufacture the products or outsource it.
Numerous online stores do not have a single manufacturing unit or maintain an inventory. Many other stores operating online opt for the dropshipping option where they pool in different business owners under a common platform and market their products.
Also it needs to be clear whether you are going to ship everything from a single warehouse or have it sent from multiple locations. While it is easier to ship from different locations, it may not be simple to keep track of the products sent.5 free business plan templates for Indian startups.
By Biplab Ghosh on August 30, 3 Comments.
Share 13 market analysis and projections and other details of the the business. So, here are the free business plan templates for your startup. India’s largest business incubator providing free services Bhamashah Techno Hub launched in. This sample business plan is intended to provide you with a template that can be used as a reference for when you’re hard at work on your plan.
The company is a completely fictional organic denim and apparel company, however, we made sure the industry research was grounded in real world numbers as.
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Here is a look at what it is like to setup an ecommerce business in India now. Here is a look at what it is like to setup an ecommerce business in India now. Menu.
Search Payment solutions provider CCAvenue has introduced a small-business friendly starter plan. Logistics providers are improving. Ecommerce business is a booming industry in Learn what ecommerce business is all about. This 7-step guide teaches you how to easily open your own ecommerce store today.
Here is a look at what it is like to setup an ecommerce business in India now. The ‘business plan’ below is based on real-life experience from expanding an eCommerce operation from Shopo to Shopo + Zepo. The reality is there are no barriers to entry for an online ecommerce business (as compared to traditional brick and mortar), so it can be tempting for entrepreneurs to jump right in without a well thought out plan.