Online Selling Platforms for Entrepreneurs

Are you getting the number of sales you want, or are you stuck at a standstill?  It is a common fact that the many small businesses (depending on the industry type and other factors) may fail due to the lack of marketing and low sales.  In fact, the Bureau of Labor Statistics states that 20% of small businesses fail within the first year while 40%-50% fail within the first five years (reported by Entrepreneur and Fundera).  Entrepreneurs who are struggling to stay in business may ask:

• How do I attract new customers?

• Is there an easier way to market myself without spending a large sum of money?

• Am I only limited to selling my products and services in my local area?

• What is the simplest way to expand my business?

The great news is that there are many avenues to making money and gaining exposure for your talents, products, and services.  One of the most common ways to sell your products and services is to set up an online store.  Now it is simpler than ever for everyday people to create and maintain their small businesses.  The platforms for selling products and services for your online store are listed in this article because of 3 main reasons:

• They are great for sellers because they are large magnets with constant traffic.  If they have a lot of traffic already, or you are just starting, it makes it easier for your store to gain some traction from some of that same traffic.

• They provide a safer platform for selling goods and services.

• They are reputable.

Imagine how awesome it would be to get your online store or boutique in front of a larger crowd through the major power players that I am about to mention.  Let’s learn a bit more about what you can do to be a seller through these major platforms.  Here are my top picks in no particular order.

#1 Amazon

Did you know that you can sell through Amazon?  Yes, it is possible that you can be there amongst all of the vendors that you have been ordering from.  Because you have most likely been a customer of Amazon, you know it is one of the best platforms for selling. As you read this, you reminisce about all those times you spent waiting for your packages to arrive.  Now you can see what it’s like to be on the other side of the fence as customers flock to your products and services and wait for your items to appear on their doorstep. Here’s how it works:

Amazon Sellers Program

Set up an Amazon Seller’s Account and choose a selling plan.  The individual plan is $0.99 per item sold plus possible additional selling fees.  This is perfect for those who sell less than 40 items per month.  So, if your business or side hustle is on the smaller side when it comes to the number of sales you get, this would work.  The other selling plan is called the professional plan which costs a flat-rate fee of $39.99 per month plus additional selling fees regardless of the number of units you sell.  This plan is best for those who sell over 40 items per month, plan to advertise their products, sell products in restricted categories, or need more advanced selling tools. 

Another great service that the platform offers is called FBA (Fulfilled By Amazon).  By signing up for FBA, you can agree to let Amazon do all the hard work for you when it comes to fulfilling the orders.  Amazon can pick, pack, and ship your orders to your customers.  It is possible to get free shipping, returns, and more by trying this Amazon service.

#2 Etsy

This is also one of the most popular platforms for selling items.  Etsy is a platform where I have noticed that some of the most unique products come from.  Most products come from three main categories:  handmade goods, vintage (20 years or older), and craft supplies.  You can easily have your own Etsy store.  Here’s how you can do it:

Etsy Sellers Program

Simply set your shop’s preferences (i.e. language, country, currency).  After that, name your shop and define how you will stock it.  Finally, set how you will get paid, set up billing, and a few other details.  The best part is that when you sign up to sell on Etsy there is a seller protection program, and there are no additional monthly fees.  The only costs that you must factor in are the possible one-time shop setup fee, $0.20 listing fee, and the 6.5% transaction fee, 3% plus a $0.25 payment processing fee. Sometimes an applicable 15% offsite ads fee applies which allows you to take advantage of Etsy’s advertising tools to boost your visibility.

Other things you can do on Etsy include designing your own website for your Etsy store, buying and printing discounted postage for your orders, and more.

#3 Walmart

Walmart now offers a program called the Walmart Seller Marketplace.  With Walmart Seller Marketplace, there are no monthly fees attached.  The company simply takes a referral fee (including credit card fees) once items are sold.  To begin selling through the site, you must first go through an application process.  Before submitting your application, it is a great idea to check Walmart’s list of minimum qualifications to join their program.

Walmart Seller Marketplace

If you meet the requirements and your application is approved, you will be asked to read and acknowledge the Retailer Agreement.  From there you will complete your seller profile, payment method, and begin to add items to your store. 

Like Amazon, Walmart does offer its own fulfillment program.  It is called Walmart Fulfillment Services, and it allows sellers to store their inventory at Walmart’s warehouses where items can be picked, packed, and shipped. 

#4 The Black Virtual Mall

This is a newer platform that is gaining traffic and popularity very quickly for black sellers.  While most major platforms primarily focus on the selling of physical products, this platform also allows business owners who only sell services (ex: taxes, pest control, cleaning services, etc.) to have a space.

The Black Virtual Mall

Here’s how you can possibly snag a spot at The Black Virtual Mall. According to the FAQ, you must have your own website.  This is because the virtual store or kiosk is built around the branding of your website and traffic from the virtual mall platform’s stores and kiosks is directed to a seller’s website directly once links are clicked.  Apply to get a space at the mall between the 1st and the 14th of each month.  Here’s what spaces you can apply for along with their monthly fees:

• Kiosk – $100 per month

• Store – $150 per month

• Food Court Space – $125 per month

• Premium Store – $200 per month

• Book Store – $50 per month

• Music store – $50 per month

• Art Gallery – $50 per month

Once you have applied, you will be notified if your application was accepted or rejected on the 15th.  If you are accepted, then you will pay the fee and your store or kiosk will be built for you.  Unlike the other platforms, all transactions are handled through your direct website since none are handled through The Black Virtual Mall.  A new section has been added to the virtual mall called ‘KidPreneurs’ where young entrepreneurs 18 years of age and younger can apply.

Even if you are not wishing to rent a virtual space to sell your goods and services, it is possible to still be showcased in the Black Virtual Mall Movie Theatre for no cost.  Educators and entertainers are not charged for submitting their content, so exposure is completely FREE.  Content that you present can fall into the categories of being educational or informative such as poetry, music, film, educational lectures, how-to videos, etc.  That content can be submitted to be viewed to a global audience in the TBVM movie theatre area. 

What Will You Do?

Now that you know a bit more about these 4 platforms, click the links listed throughout the post to gather more details.  Now ask yourself which platform you want to align your store with.  I look forward to buying from you:)

Don't forget to come back and look at our Nacogdoches County MBD site for marketing your small business.

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