Do you profit from e-commerce?

[Edwin187]

Just wanted to know how things are going in this business model? Is it hard to build profitable e-commerce shop? Let me know how it goes for You? Is it your full time or part time business? Thank You!

 

[Deleted member 243860]

There's no reason why you can't set up an online store and start taking sales in less than an hour these days.

The hard bit is making it profitable and developing a successful marketing strategy.

 

[Edwin187]

There's no reason why you can't set up an online store and start taking sales in less than an hour these days.

The hard bit is making it profitable and developing a successful marketing strategy.

Yes, that's exactly what I ment. Is it hard to make it profitable.

 

[Paul Norman]

We have an ecommerce business, which sells over 80% from the website. It is profitable.

 

[Deleted member 243860]

What kind of goods do you sell Paul and what marketing strategy works best for you? Congrats it sounds like you are doing well.

 

[Edwin187]

I would also be interested to hear what Paul is selling. And how long did it take to get these results? I mean how long do You have e-commerce?

 

[Tech4Homes]

Wouldn't be doing it if it wasn't profitable.

 

[Dejay1788]

We are profitable, however we just don't take as much money as I would like.

It's been hard work getting to this point and hopefully we can continue to grow.

 

[benb]

We having been running for 3 years and have been profitable for 2.

This year we have started to take money from the business which has made it slightly more difficult with cash flow and growth.

Would be interested to hear anyone else's thoughts on this.

 

[BigTree]

Bit too general question really. e-commerce is of course profitable otherwise there wouldn't be any internet shopping.

Personally my business was profitable after 5 days. It all depends on what you're doing. My business only needed a machine which costs £150 and £50 for components so it didn't take long before I broke even.

Now I just use a percentage of the profits to add extra products. It's slower than getting a load of funding at the start but it reduces my risk and debt.

If you're buying and selling goods it'll come down to how much stock you need and how many products you're selling.

I did have the benefit that I had a very successful forum which I cross sell to. This meant from day 1 I had thousands of niche customers seeing my product.

Without that, one of the biggest obstacles is getting your site seen. Don't waste money getting general traffic though as that's just a waste.

I have found Amazon Marketplace one of the best places to get new customers. eBay on the other hand was full of customers but really bad ones!

 

[Pish_Pash]

I'm in my third year of trading, I've been profitable since day one ...just so long as you have products that people want ...& sell them for more than your landed cost ....& are vicious on costs (& I mean vicious). ...then how can you not make a profit?

I'm still not feeling the benefit in my wallet though...I'm taking out the bare minimum in salary/divis as I grow (because I'm self funded, I've got to keep a wad of cash in the business to increase my range of products ....& in higher quantities ...oh yeah - little 'ole me is now subsidizing a large retailer by extending them credit too!)

 

[antropy]

Is it hard to build profitable e-commerce shop?

It's hard to run any sort of profitable business because they must exist in a market where there is competition, but there are many, many people doing it successfully.

It sounds like you're thinking of starting up? What are your plans so far?

 

[Paul Norman]

What kind of goods do you sell Paul and what marketing strategy works best for you? Congrats it sounds like you are doing well.

I would also be interested to hear what Paul is selling. And how long did it take to get these results? I mean how long do You have e-commerce?

Sorry for the delayed response to the above - I have been away for a couple of days.

I have been involved in the world of ecommerce on both sides of the fence for many years, certainly more than 15.

That involvement has covered the motor trade, fashion, and property.

Currently I have more than one project, so there is not one answer to what I am selling. Neither is there one answer as to how long it takes to get results.

However, to get decent results - earn a living type results - typically takes around two years. From then the businesses have built at a pace driven by a combination of the market and how well I have addressed that market.

I currently earn my living entirely from the world of Ecommerce in one way or another.

 

[Vincentas]

Well e-commerce is created usually with a point to gain some money, so yes, people are making money and if they don't tehy simply stop doing it or dye trying. If its a full time job depends on how many people are working on that project. But for me yes, full time job with lots of overtime.