Starting Your Own Online eCommerce Business Part 2

Worker Taking inventory of a eCommerce Warehouse.

So you’re ready to start your own online eCommerce business? Don’t make the mistake of thinking you can just set up a website, choose a fulfillment company and go.

In many important ways, an online business is just like a brick-and-mortar business. Here are some major considerations that should be on your start-up checklist.

1. Determine your overall business concept.

“Selling products” may be your ultimate goal, but it’s not a viable business concept. With all the competition you’ll be facing, you need to figure out where you can offer something different. Having a solid business concept will also provide focus for easier decision-making.

2. Create a business plan.

Once you have a concept, you can start planning how you will achieve it. Think of a business plan as a blueprint for the structure of your business. Include elements such as:

3. Choose a business structure.

Limited liability company (LLC), limited liability partnership (LLP), sole proprietorship or corporation? Each one has different specific implications for your personal assets, tax liabilities and company operations. If you’re not sure, seek professional advice.

4. Obtain the necessary licenses.

  • Research your business name to make sure it’s not the same as another registered business in your county or state. Also, decide whether you’ll be using a DBA, or “doing business as.”
  • Register your company with the appropriate business agency in your state. Once that’s done, you can apply to the IRS for an employer identification number (EIN).

A Fulfillment Company That Works for You

With all the business hats you have to wear, wouldn’t it be great to turn order fulfillment over to an experienced source? Family-owned Medallion Fulfillment & Logistics has been successfully providing fulfillment company services for decades. Contact us to learn more.

Starting Your Own Online eCommerce Business Part 1

eCommerce Business Concept

As more customers shop online instead of in stores, opening an eCommerce online store can be a lucrative idea. Opening this kind of business might seem simple compared to opening a brick-and-mortar shop. However, it’s important to make sure your online store is fully ready. From coming up with a business concept to partnering with a fulfillment warehouse, keep the following guide in mind for opening an online store.

Choose a Business Concept

What kinds of products are you planning on selling? Some online stores sell a variety of products, while others specialize in certain items only. Think of the types of products you’re interested in selling to the public.

Check Out the Competition

Before diving into eCommerce, it’s important to be familiar with your competition. Do research on other businesses that sell similar products as your store. Look at how much they charge for their items and what kinds of discounts and specials they offer.

Write a Business Plan

Your business plan gives you a road map to refer to as you work on getting your online business up and running. This plan should include an executive summary, market analysis, company description, mission, and product information.

Decide on a Business Structure

The structure of your online store affects taxes and other financial aspects of your business. Explore the pros and cons of different structures, such as limited liability partnerships (LLPs), corporations, and limited liability companies (LLCs).

Take Care of Registration and Licenses

When you have a store name and decide on a structure, it’s time to register your business. You’ll also need to obtain any licenses and permits your company needs for legal purposes.

Looking to team up with a fulfillment warehouse for your online business? Contact Medallion Fulfillment and Logistics for more information on our services.

Warehousing or Fulfillment Service – Understanding Your Needs

Warehouse Worker Pulling Boxes Down to Fulfill an Order.

As the operator of a virtual storefront, your eCommerce business needs storage for your products and a way to fulfill orders. Which will better satisfy your needs: a warehouse or a fulfillment company? Take a closer look at how each one works.

Difference Between Warehouse and Fulfillment Center

  • Warehouses are widely used by both eCommerce shops and brick-and-mortar stores. These large facilities provide storage for a company’s inventory until it’s sold. Individual SKUs (stock keeping units) are kept on shelves or in storage bins and containers to facilitate order-picking.
  • On the other hand, a fulfillment center is a more comprehensive operation. In addition to storing product, a fulfillment center generally handles the entire process, from inventory management to order filling and shipping. These centers are sometimes referred to as a third-party logistics provider, or 3PL.

Benefits of a Fulfillment Company

  • In business, larger volume means better pricing. A fulfillment center manages a number of customers, allowing them to receive more advantageous pricing on supplies and transportation than you could ever obtain on your own.
  • Are you finding it difficult to keep up with the ever-increasing number of orders? Is it taking too long for customers to receive their products? Fulfillment centers have streamlined processes that can be scaled to accommodate company growth.
  • Order fulfillment involves many moving parts. Managing this side of your business on your own is cumbersome and time-consuming. When you partner with a fulfillment warehouse, it frees you up to spend your time and energy growing your business.

A Fulfillment Company Invested in Your Success

At Medallion Fulfillment & Logistics, your success means our success. We have a variety of services, including start-up and Amazon replenishment warehousing, that can be tailored to fit your individual needs. Contact us today for more information.

Four Tips About Selling On Amazon and the Benefits of 3PL

Consider Medallion Fulfillment & Logistics for your Fulfillment Warehouse

When you have products to sell online, Amazon offers a convenient way to market your products and process sales, but keep in mind that it’s not foolproof. You’ll need to spend time and effort making the most of your Amazon store in order to attract customers and grow your business, which includes exploring third-party logistics (3PL) provider options for fulfillment and shipping. From marketing your goods to using a fulfillment company to meet customer demand, the following tips can help you sell on Amazon.

Build Your Brand

Amazon won’t bring customers to your Amazon shop for you. As the store owner, you’ll need to find ways to drive traffic to your shop. This involves optimizing pages for each product you sell, gathering positive reviews, and earning a reputation for providing outstanding service.

Become a Professional Seller

Anyone can sell products on Amazon, so it’s important to stand out. Registering as a professional seller provides you with a good way to set your online shop apart from individuals who are selling similar products. When you have a professional seller account, you’ll also save money, since there aren’t any listing fees for these accounts.

Fulfill Orders Promptly

Processing and fulfilling orders as quickly as possible is essential in order to succeed as a seller on Amazon. Having a fulfillment warehouse available to help you meet these needs is important, especially as your business grows.

Focus on Customer Service

Customer service is the key to thriving on Amazon. Come up with policies that help keep customers satisfied, such as replacing products quickly or issuing refunds. Reach out to customers who leave negative reviews to learn more about how you can improve.

If you’re searching for a reliable fulfillment company to help your online business, please contact Medallion Enterprises.

Back to the Basics: How to Start Your eCommerce Store in 2023

Fulfillment Warehouse Picking Packages

As more consumers turn to online shopping, having an eCommerce store can be a lucrative business. From selecting an eCommerce platform to choosing a fulfillment warehouse, there’s a lot to keep in mind when running an online store. The following tips can help you get your eCommerce store up and running smoothly.

Find the Right Platform

Third-party marketplaces and online store builders are the main kinds of online platforms to choose from. You’ll have greater customization abilities with an online store builder, while third-party marketplaces have limited customization. Choose a platform that provides the right amount of customization for your online store, as well as dependability.

Think About User Experience

Consumers often use more than one device to shop for products. Consider user experience on different types of devices, including laptops, tablets, and smartphones, when designing or setting up your website, mobile app, social media accounts, and other channels. For example, your website should be optimized for mobile devices, so consumers can easily read text and view images on smaller screens.

Make the Checkout Process Simple

When running an online store, beware of abandoned shopping carts. This happens when customers place items in their online cart, but never complete the purchase. Making the checkout process as fast and easy as possible for customers can help reduce the risk of having abandoned carts.

Fulfill Orders Efficiently

Getting orders fulfilled and shipped to customers on time is highly important for eCommerce success. Finding a fulfillment warehouse to partner with for this purpose is a smart way to make sure that your customers receive their orders promptly.

If your 2023 plans include starting an eCommerce store, please contact Medallion Fulfillment and Logistics. Our fulfillment warehouse can help ensure that your online store is able to quickly fulfill orders.