E-Commerce: The Easiest Side Hustle to Set Up?

In these times, we all need extra money. Whether it be so we can stay at home or just to supplement your regular income. In the next few days, I’m going to be exploring different side hustles.

When you’re looking for a lucrative side hustle, e-Commerce is one of the best markets you can choose. Currently booming, the e-Commerce industry is continuously growing at an astounding rate.

You don’t need a lot to get started and there are a lot of opportunities in the industry. Here, we’ll look at what e-Commerce involves, it’s pros and cons, and how to get started.

What is e-Commerce?

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Otherwise known as electronic commerce, e-Commerce is the term used to describe online selling and buying. It typically refers to physical goods being bought and sold online. However, it can also refer to any type of online transaction, such as services offered through the internet.

You can sell all kinds of products and services in this type of business. You can also either set up our own website to sell your goods or set up a shop on an already established platform like Shopify or eBay.

What are the pros and cons?

Like any type of career, it’s important to understand the pros and cons of e-Commerce before deciding whether or not it’s right for you.

So, let’s start with the pros. The main benefits of e-Commerce include:

It’s easy to get into
You could make a lot of money
You can offer goods locally or internationally
Affordable to set up
You’ll find e-Commerce is one of the easiest side hustles to set up. You can start by setting up a store on an already established platform. You’ll also find everything you need, such as suppliers, online.

The e-Commerce industry is booming right now, and it shows no signs of slowing down. Therefore, this is also a career opportunity that enables you to earn a significant amount of money potentially.

You can also choose whether you want to sell locally or expand internationally. This gives you access to millions of potential customers. Plus, there is the added advantage that it’s affordable to set up. Starting an e-commerce store is much more affordable than setting up a physical store.

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So, what about the cons? The main disadvantages of e-Commerce include:

High competition
Risk of fraudulent transactions
Downtime can be costly
You’ll find there is a lot of competition within the e-Commerce sector. This means you’re going to need to ensure you’re offering competitive pricing, as well as something different from your competitors.

Fraudulent transactions are also a worry. Fraudsters commonly try to steal from businesses through chargebacks. You also run the risk that even a few minutes of downtime for the business could result in a loss of a lot of sales.

These are the main pros and cons you need to consider before deciding whether e-Commerce is right for you.

How to get started

If you do decide e-Commerce is the right-side hustle for you, it’s important to research as much as you can. This means researching the types of products that are currently in demand, comparing suppliers and also researching the laws and regulations you’ll need to follow.

It’s best to start by opening up a shop on an established platform. That could be eBay, Shopify, Etsy or even Amazon marketplace.

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With Amazon, for example, you’ll have the option to ship products yourself or choose Amazon fulfillment. The latter is a great option as you won’t need to store physical products and you also won’t need to worry about shipping.

E-Commerce can be a great way to make additional income. It can also help you to get into the world of self-employment with very little capital. Just remember to do as much research as you can before getting started. That way, you’ll stand a much better chance of success in this competitive industry.

Do you have a part-time side hustle or even a full-time side hustle? Let us all know, I really am interested!

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