5 requirements you must meet BEFORE opening your online shop

After helping more than 100+ customers as freelance web designers to successfully open their own online shops, I would like to share with you the requirements to open an online shop that made them hesitate before choosing this business model that is growing all the time.

The last thing I want is for you to miss out on the benefits of having the freedom of a booming digital business because you\’re left wondering, so let\’s get to it. So now I will dig into the 5 requirements for open online shop tips.

A good product

Obviously, the product is the basis of every online shop. Years ago, this requirement meant a significant initial investment in stock, but nowadays this is no longer a problem thanks to dropshipping.

All you have to do is decide what you are going to sell and find a good supplier for this product.

In this way, your online shop only acts as an intermediary between the end customer and the supplier and you can offer a wider variety of colours, sizes and sizes to suit the tastes of all your customers.

Analyse your market

To spot a good business opportunity for the online shop you only need to focus on one thing: solving a real problem people have with your products.

The bigger the problem and the fewer people who are able to solve it, the more your chances of making money selling the products in your online shop will increase.

To do so, I recommend an infallible tool: Answer the Public. With it, you will be able to obtain questions that people ask about a specific topic.

In this way, you will be able to identify the most sought-after products and analyse the demand. My advice: choose products with stable demand and forget about those that are only sold in certain months of the year, for example, during the beginning of the school term.

A platform that gives you freedom

If there is one thing you need to be clear about in the business world, it is that the more control you have over your business, the freer you will be.

I\’m telling you this because every week I receive requests for quotes from online shop owners who decided to open an online shop using platforms like WordPress + WooCommerce, Wix or Squarespace and now want to switch to Shopify because they feel tied to them.

The owners of these businesses have not only lost control of sales since they must give them a monthly or transaction-based commission, but they have also lost the exclusivity of their customers\’ data since they keep all the emails to send them their promotions.

Legal Adaptation of the eCommerce Online Shop

Contrary to what most people think, you do not need to register as a freelancer to start selling with your online shop if the income you generate from it does not exceed the minimum wage in the UK for example and you need to register in the UK as a freelance web designer with an LTD company for example.

Nowadays the SMI is £16,317 a year and we agree that once you exceed that figure it will not be a problem to register. So don\’t worry, as the tax authorities interpret your income as occasional until you exceed that figure, so you don\’t need to invoice.

The other legal requirement your online shop must meet is GDPR compliance.

To do this, you only need to have your legal texts visible and up to date, ask for the acceptance of your website\’s privacy policy and cookies and offer the option to unsubscribe from your mailing list in all emails.

WARNING: This data is based on my experience, but I always recommend speaking to an advisor or accountant in the UK.

Streamlined Payment Process

If you don\’t have an optimised checkout process you are losing money. You need to get as many visits to your checkout page as possible to convert into customers.

To do this you need your checkout (the payment page) to be as optimised as possible. The guarantee you offer with each order, testimonials from other customers and the delivery time should always appear in writing.

Finally, it is highly recommended that you also offer several payment methods (card, Paypal/Stripe and bank transfer) so that the customer can choose the one that is most convenient for them.

What do you think about these 5 requirements to open a Shopify online shop? Easy, isn\’t it? That\’s just what I wanted you to think as you reach the end of this post.