It takes a lot of effort to start your own Shopify online store as business owner. To put up a professional-looking business requires a lot of studying, planning, and sitting on your bum time.
Many eCommerce entrepreneurs see buying a Shopify store as one accessible option to fast-track startup success with a business plan as it is a trusted platform for sustainable sales channel with ecommerce solutions. However, is purchasing a Shopify store worth it? And if yes, how do you grow the dropshipping store?
Let’s check it out through this article.
The Pros and Cons of Buying a Shopify Store
To answer whether buying a Shopify store is worth it, we will need to understand the underlying pros and cons of buying a Shopify Store. Let’s check out the pros and cons listed below.
Save time: might take time and a lot of effort to create a Shopify store from the ground up. Although there are several programs to save time while constructing a dropshipping business, you'll still need to edit product photos, create product descriptions, and design the site itself. Hence, buying a store, regardless of how you look at it, saves you a lot of time in getting things moving.
Plus, with premium themes that will result in extra cost offers additional built-in feature will save your time to further extend. Shopify apps have extensive range of color palettes, reporting functionality, and additional sales channels that comes quite handy. You can add payment gateways as per your convinience and Shopify payments can also be opted.
It is also worth noting with Shopify stores for sale you can create any online marketplace that revolves around customer base.
Proven business: No definite assurances exist that starting your own Shopify store will bring potential profit. When you purchase a successful Shopify store, you buy more than just a store. You buy clients in addition to a store with proven items or digital products. A store with a track record of producing revenue might be a goldmine.
For any type of business you as a store owner has to start the business from scratch and focus on bringing targeted organic traffic and convert them into potential customers.
Available product sourcing: It's not easy to find product sourcing even for single-product businesses. Many successful shops begin as dropshipping stores, then expand and invest in goods and proper branding once they have proof of concept. You will save considerable time and money if you acquire a store that has already solved the problem of product sourcing with faster shipping.
You will have a brand: This is directly related to the initial point - it takes a lot of effort, money, and ideas to build a brand. When you purchase a Shopify store, you are also buying a b with international security standards that is crucial for ecommerce store. A store that has been open for at least a year and has generated sufficient sales will develop a brand.
Before starting your eCommerce business it is imperative to know the possible demerits of a system. This will help you understand that can your dropshipping product is suited for that platform or not.
You will be devoid of information: You'll miss out on many eCommerce learning opportunities if you buy a Shopify store. On the other hand, building your own exposes you to excellent examples such as web design, development tasks, and marketing elements.
The distinction is uncommon: Your ideas for your website will be very different from a ready-made Shopify store. Because everyone has their unique style andpreferences in terms Shopify development services, you might be able to take your Shopify business to new heights than a single web developer could with same product listing.
Lack of product research: You did not do your product research because you are not constructing your website with wide range of optimization. It might be a thorn in the side because you won't know who your audience is, what they're interested in, lacks a larger product catalog, or whether your business has winning items or not.
Lack of knowledge about the competitors: Buying a Shopify store will make it impossible for you to recognize who your consumers are. Some competitor research always precedes the process of creating an eCommerce website since this will inform you of what other firms are offering, their upfront cost, and at what pricing.
So Is Buying a Shopify Store Worth It?
From on the pros and the cons of buying a Shopify store mentioned above, we can determine that you may choose the ideal approach for your company benefits based on the demand of the hour.
It is ideal to purchase a Shopify store as it is an all-in-one ecommerce solution, but if you are prepared to put in the time and effort, you can undoubtedly set up a store on your own. Like every other benefit with drawbacks, buying Shopify stores are an ace in the hole for starting an online business.
You'll save a lot of time and effort, which you may use in learning about the competitors and marketing strategies. Also, avoid overthinking. If you favor a different option, conduct some research and go with it.
How to Grow the Dropshipping Store
Even you decide to create your own Shopify store or buy one, you will need an excellent strategy to grow it. Thus, let’s check out how to grow the dropshipping store.
Branding your company is the best method to defend yourself from the inevitable race to the bottom. Everything you do should be built around your dropshipping brand.
A brand will:
- Tell customers who you are and what you stand for right away.
- Set you apart from other dropshippers.
- Persuade customers to select you over the competition.
If increasing income is difficult due to competition, branding is the solution. This phase requires you to stop thinking of yourself as a dropshipper and start thinking of yourself as a legitimate eCommerce brand (even if you're still selling other people's stuff).
Put yourself in your customer's shoes
Your customers are the lifeblood of your company. When scaling your dropshipping business, you need more than a rudimentary awareness of your target market.
That means you should understand:
- Shopper behavior: What is the most common way for visitors to find their way through your website?
- Your sales funnel: What methods do buyers use to locate you? How many interactions do you have with them before they make a purchase?
- Customer needs: What urgent issue do they need to address? What does it have to do with the product you're selling?
- Customer budget: How much time do you spend pursuing a consumer before purchasing? Are you recouping your investment?
Invest in customer support
Customer service may be complex, but it can provide you with a significant competitive advantage when done effectively. That's because most shoppers think customer service plays an essential role in their purchasing decisions.
The disadvantage is that many customers prefer to communicate with a live person rather than a chatbot. That implies you'll need real people to help your customers if you're running a dropshipping business.
The customer experience is crucial. If you're having trouble keeping up with your rivals, consider providing excellent customer service.
Also, educate your customers to help them get decision more easily and aptly. Add blog post on your store on regular basis.
Be intentional with marketing
Many dropshippers do not promote themselves, but you must do so if you want to connect with additional customers. If you're not sure how to advertise your dropshipping business, consider these four tried-and-true methods:
- Influencers: Collaborating with influencers is the most effective strategy to expand your dropshipping business. Micro-influencers, in particular, have a more significant influence on customer purchasing decisions.
- Organic content with Search Engine Optimization (SEO): Social media, podcasts, and other methods can attract more customers to your eCommerce site. Don't forget to SEO-optimize!
- PPC: If you're not cautious, pay-per-click advertising can waste a lot of money, but when done correctly, it can offer your eCommerce a substantial boost.
Isn't it difficult to acquire money if you continue wasting it? Costs also weigh you down. Your objective is to increase revenue as well as profit margins. Just try to simplify your dropshipping operation with profitable business model that has the potential to get good conversion rate.
After this article, you should consider for yourself the pros and cons of buying a Shopify store and decide whether purchasing a Shopify is worth it and know how to grow the dropshipping store. You can also try Advanced Shopify that will a high monthly price. Good luck with your ecommerce store!
Recommended reading: What is Shopify Payments and how does it work?
How does Dropshipping work with a Shopify store?
Shopify works with the dropshipping store by providing them with the whole digital infrastructure like themes, plugins, and payment options to be able to run a dropshipping store smoothly.
What are the costs associated with buying a Shopify Dropshipping store?
The costs associated with buying a Shopify dropshipping store can include the purchase price of the store, which can vary greatly depending on the store's age, revenue, and profit. The monthly cost for a basic Shopify plan is typically around $29, however, for small businesses, the costs for apps and plugins, marketing and advertising can add up and easily reach several hundred dollars per month.
How can I find a reliable supplier for my Dropshipping store?
Finding a reliable supplier can involve researching different suppliers, asking for recommendations, checking their product reviews and ratings, and also potentially test ordering a product yourself before committing to working with them.
Can I customize a pre-built Shopify Dropshipping store to fit my brand?
Yes, a pre-built Shopify dropshipping store can be customized to fit your brand by adding your own logo, changing the colors and layout, and adding your own products and branding elements.
How do I market and promote my Shopify Dropshipping store?
There are many ways to market and promote a Shopify dropshipping store, such as using social media, email marketing, and influencer marketing, using Google and Facebook ads, and also search engine optimization (SEO) to increase visibility in search engines.
How to optimize the checkout process for a dropshipping store?
Optimizing the checkout process for a dropshipping store can include reducing friction at checkout, providing clear shipping information, offering multiple payment options, and having a clear and easy-to-use return policy in place.
How can I stop frauds and chargeback on my Shopify store?
To prevent fraud and chargebacks on a Shopify store, merchants can implement fraud prevention tools, monitor customer behavior, provide clear return and refund policies, and use a service like Chargeflow for additional support.