Opening your own online shop: 5 tips that will help you to be successful

In 2022, the Swiss people bought around 14 billion Swiss francs online. Digital purchases from Swiss online shops – i.e. shops ending in .ch – have increased by 44% since 2019*. So it's not surprising that many see the great opportunity of becoming self-employed with an online shop.

If you also dream of being your own boss, then we now have five tips for you on how to start your successful online business and what you should definitely pay attention to.

1. Find the right product or service

In the beginning you need an idea. An idea for a product or service that can be sold online. There are two types of budding entrepreneurs.

Those who have a passion or hobby that they want to turn into a career and those who want to start their own business but don't yet know what to sell.

If you belong to the first category, the way to your online shop is of course a little shorter. But if you're still looking for the big idea, here are a few suggestions of what you could offer in your online business:

• Homemade products (e.g. scented candles, soap or jam)

• Second-hand products (used clothing or recycled furniture)

• Custom printing services (custom printed t-shirts, mugs or custom mouse pads)

• Offer your own know-how (e.g. as a sports trainer or interior designer)

2. Analyze the market

Regardless of what product or service you want to sell through your webshop, you need to conduct a market analysis. It helps you to find out if your project is viable. The first thing you should do is take a look at the existing competition. Is the market already well developed? Is it overcrowded or is it dominated by a few large companies?

A lack of competition is not always a good sign. It may also be that consumer interest is too low or that the market is too specific to sell enough volume.

In addition to the competition analysis, the target market can be surveyed in order to determine the needs of consumers and to specify one's own business idea.

To find out, the following questions to people from the target group are helpful:

• What are they currently buying to meet their needs?

• Is that enough for you?

• What are you missing?

• How much would you be willing to spend to fully meet your needs?

3. Establish company

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When you are clear about what you want to offer in your shop, it's time to start your business. You'll probably start small, but there are a few things you should start thinking about right now.

What you definitely need to consider are the legal aspects of your business. Which legal form is suitable? Do you have to pay VAT?

We would love to help you start your successful business.

4. Open an online shop  

Once the paperwork is done, you can get on with your project and focus your energies on making your online store a success. You can easily do this with one of the many providers on the market and do not need any programming knowledge. Choose the right URL that suits your business. We have put together some tips for you on how to find the perfect company name for your online shop.

5. Promote the online shop

The most important thing on the way to becoming an entrepreneur is to make yourself known to the target group. Communication is essential for a successful start.

This communication can begin even before the store opens. For example, you can collect e-mail addresses for newsletters before your website goes live or set up a countdown that shows future customers when it will start.

Once the business is online, you must make an immediate effort to publicize it. Update your social media feeds and build a community. Respond to inquiries across all channels and regularly try out new features on the various social media channels. This includes, for example, product tags on Instagram. You can also run paid ads on Facebook, Instagram, TikTok, or Google. Offer your products directly on social media, on comparison portals like Google Shopping and other marketplaces.

But don't underestimate the power of traditional offline sales channels. Stores, physical markets, and your own social circle are great sources of potential sales.

Findings

• Choose a product or service for your online shop that you are enthusiastic about.

• Check the feasibility of your project. Analyze the market.

• Get help with setting up a business and carefully clarify legal issues in advance.

• Promote your online shop through various marketing channels.

*Source: Handelsverband.swiss

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