It takes a lot of effort to start your own Shopify store. 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. 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: It 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.
Proven business: No definite assurances exist that starting your own Shopify store will be profitable. 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. A store with a track record of producing revenue might be a goldmine.
Available product sourcing: It's not easy to find product sourcing. 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.
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 brand. A store that has been open for at least a year and has generated sufficient sales will develop a brand.
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, you might be able to take your Shopify business to new heights than a single web developer could.
Lack of product research: You did not do your product research because you are not constructing your website. It might be a thorn in the side because you won't know who your audience is, what they're interested in, 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 and at what pricing.
So Is Buying a Shopify Store Worth It?
Based on the pros mentioned above and the cons of buying a Shopify store, 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, 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, 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?
Automate your process and outsource arising tasks
Without some assistance, scaling a dropshipping company is quite challenging. Automation and outsourcing free up your time (and your sanity), allowing you to focus on building your company.
Repricing and fulfillment, for example, are time-consuming manual processes that you can automate. Rather than allowing orders to pile up, automated fulfillment prevents backlogs and customer service issues. Furthermore, automation tools like DSers generally outperform people at these activities, reducing mistakes and speeding up the overall process.
However, not all tasks are amenable to automation. Other professionals can help you save time while executing the work well, whether with social media, copywriting, site design, or web development. By delegating responsibilities to other people, you can save even more time.
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.
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 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 profits. Just try to simplify your dropshipping operation.
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. Good luck!