Shopify store is an online store where not only people who are working for years but also beginners can earn money. The profitability doesn’t depend upon your experience always, there are many more factors that you may consider in this regard.
People usually think that the online stores are only profitable to those who are part of those stores for a long time, beginners can’t earn that much.
These thoughts among the beginners can cause, them not to work with online stores. It’s not always true.
This article will help you to know about all those factors that affect the profitability of an owner, moreover, you will also find some ways through which you can increase the profitability.
Let’s jump in, to explore more about Shopify.
Table of Contents
- Are Shopify Stores Profitable?
- Factors affecting the Profitability of Shopify Stores
- Conclusion – Are Shopify Stores Profitable?
Are Shopify Stores Profitable?
There are different ways to work in any store, in Shopify you can have a job in two different ways.
Then it will be your choice what way you prefer. Let’s discuss here those two ways.
1. Selling Your Products
If you are having your product, then it is undoubtedly a great chance to multiply your profit.
It doesn’t matter what you are selling, it can be anything, thing that matters is the fulfillment of the needs of people.
While designing your product focus on, whether your product is fulfilling the customer’s need or not?.
If you already have any business or if you are thinking to design something new then focus on two points,
- Whatever you are designing should be unique or should not be common in the market so that your product will be taken under consideration by the customer.
- Is your product in accordance with the needs of people? Products that are not of much use to people will be left unused or ignored sometimes.
And the good news is for the ones who are famous, either because of their vlogs, articles, dramas, etc you could design and advertise your product even much more easily than others.
It is now a most common practice these days, that every person who got famous starts his online store. Because it’s easy for them to advertise their products via their pages and fans.
But the only thing you do in extra is you have to store and ship the product to your customers yourself. For which you have to select the most trustworthy people.
If you are not having your product then there are hundreds of people who have chosen another way of earning and that is by dropshipping.
This is how dropshipping has made the lives of many people worth living.
Even many online businesses have increased their profitability in this way.
Which One Should You Choose?
Now it’s up to you which way you choose to start earning from Shopify stores.
Both ways have different aspects, if you are having your own product then the first way is best for you.
And if you are not having your product then there is nothing to worry about, there is still another way which is by dropshipping.
Nowadays thousands of people are conveniently earning and making a living on their own by dropshipping.
There is no big difference in earnings, both ways are useful on their own.
You can choose the way of your want.
Factors affecting the Profitability of Shopify Stores
The profitability of stores depends on some factors which when focused on or considered can increase the owner’s income even more than 50%. These factors can affect your profitability more than even you think.
Every step you take while running an online store can affect your profitability.
Let’s discuss how every step can be made effective for more profitability.
1. Choosing The Right Product
If we consider what people use to think before buying the product of their need they usually notice the following things:
- Is it solving their problem?
- Is it fulfilling their need?
- Is it unique in the market?
- Is it attractive?
- Is it last long? , etc.
If the product you designed and are selling has satisfactory answers to the above questions then your product will never fail.
But if the product isn’t good enough then surely no one will consider your product. And you will claim that your online store is not rating it up.
Choosing the right product of need can help you improve your business on Shopify.
2. Promoting it to The Right Audience
Once you have chosen the right product the next step is advertising it among customers.
Before advertising your product keep the following two things in your mind:
- From which platform or page you are advertising your product?
- And how you are advertising your product.
Generally, Facebook is the most targeted app, which almost everyone is using, but instead of this there still exist many more apps to use like:
- Snap Video
- And other social media apps.
Because if you have chosen the right product, but the audience you choose is not right then there will be no effect on your profitability, the reason is that every step is proportional to one another.
3. The Perfect Price
If you want traffic on your Shopify store then mind it nothing will attract customers to your product more than a low or an average price.
Because all a customer want is good quality and a low price.
“Not much expensive not so cheap” is the policy.
4. The Shipping Time
It has been noticed that if a Shopify owner has a good product to sell, has a good audience, and even has an affordable price for their product but still the shipment time was not good so this will become a reason that the customer starts avoiding shopping from that store.
For making more customers, the shipment time is one of the most important factors which customers use to consider.
So, while you are choosing your dropshipping staff, select good suppliers. And if here we mention the most used wholesaler by most people then that is Aliexpress. They are providing good jobs as the drop shipper to many peoples
5. Customer Service
Every customer prefers to buy a product that can be refundable, has a guarantee, and can be replaceable.
While advertising your product make sure to specify all the services that you are offering to your customer.
If your services are advantageous to customers then they will surely shop from you again and again otherwise they stop buying from your store. It will be additional favor to your product if your services are better than others.
Many businesses have collapsed only due to their bad customer service. People usually make mistakes by trusting every person for their customer service.
So, before you assign your customer service to someone make sure that the person is trustworthy or not.
Trust is hard to gain but easy to lose.
If you are new to Shopify or another online store, never compromise on your product’s quality, your product’s shipment, your customer service, or on anything that is between you and your customer because these are the things that help to build trust between you and your customer.
And once your customer starts trusting you they bring new customers to your doorsteps and will come to your store again.
You can use the following ways to build trust :
- Add proper and complete information about your product.
- Your store should look unique among other stores.
- Your store has all legal pages like shipping policy, return policy, etc.
- Add an FAQ page.
What Should You Do?
If you follow all the above instructions carefully and seriously, Shopify stores are profitable to you even beyond your expectations.
And to practice your sale, there is a 14-days free trial available, where you can easily practice your basic plans. If 14-days are not enough to practice you can practice for some longer too.
Conclusion – Are Shopify Stores Profitable?
If here we conclude that Shopify’s online store is surely profitable to both beginners and the ones who are working with them for a long time.
If you work accordingly, and with all zeal, you will never fail. Customers are there to come and go, it doesn’t always mean that your product is bad or your service.
Everything takes time to settle according to our expectations.
So, never stop trying. Soon or later you will be among those owners who have multiplied their earnings by following all the rules above.