Why should you open your own store?
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Why should you open your own store, and not use the services of placing goods? Deciding whether to open your own store or use a listing service depends on a variety of factors, including your goals, budget, resources, and product type.
Why should you open your own store? Here are some advantages and disadvantages of each of these approaches:
Opening your own store:
Advantages:
Control: You have complete control over your brand, products and customer service processes.
More opportunities to expand: Your store can grow with your business, you have more opportunities to expand your product range and serve customers.
More profit: You have the opportunity to make more profit because you don’t have to pay commissions to product placement services.
Limitation:
Costs and risks: Opening and maintaining a physical store requires investment in rental space, inventory, staff, and advertising. This is related to financial risks.
Administrative Responsibilities: You are responsible for all aspects of running the business, including inventory management, logistics and customer service.
Use of goods placement services (for example, Etsy, Amazon, eBay):
Advantages:
Less start-up costs: You can start selling without high costs for store rent and infrastructure.
Potential for high traffic: Popular services have a large audience, which can provide high traffic to your products.
Convenience: You have fewer administrative responsibilities because many processes, such as payment processing and logistics, can be automated.
Limitation:
Limited control: You have limited control over the design and branding of your store on the service platform.
Fees and Competition: Listing services typically charge payment processing fees and a percentage of sales, and you compete with other sellers on the same platform.
Dependency on a third-party service: You are subject to the rules and policies of the platform, and your business may be affected by changes in their policies.
Determining which approach is best for you should consider your goals, budget, resources, and personal preferences. Some entrepreneurs start with a third-party service and then expand by opening their own store after gaining experience and stability.
