I am a big fan of e-commerce. While affiliate marketing is great, selling actual products in a web store is also very exciting and you can get great profits out of it.
Building your store on an expired domain that already has links can give you a head start over your competition. As an example, I saw a shop called Headphones.com for sale on Sedo. When I entered “headphones” into Google, this site came up as the first search result. It only had a 15,000 links from 260 linking domains.
With a webstore many people use the dropshipping model. Your customer buys your product and you order it from a dropshipper and they send it directly to your customer. You profit the difference.
I must add though that finding real dropshippers with competitive prices is extremely difficult, in fact it is the main block. There are a lot of fake dropshippers that charge prices that are higher than the retail price. The real dropshippers are usually not very good at SEO and their sites don’t show up at the top of Google…
One thing you don’t want to do is build and run your store all by yourself, though. Best is to do it together with your wife or a friend.
You will also need a mentor, someone you can go to when you need help. In affiliate marketing you don’t need to deal with customer service or refunds. If you have a store, this is an additional function that you need to learn.
You will also need a strategy that is not the same as running an affiliate site. You will need to find suppliers, and your prices may fluctuate.
There are several coaching programs available on the internet that aim to provide both the strategy (blueprint) and the mentorship. At one point I was planning to open my own store, therefore I went through all of these programs and what they offer. (I am still planning to open one.) One that stands out is Store Coach.
It is completely free to sign up for Store Coach. It gives you a complete step-by-step system that takes you through everything starting from niche selection, building your store, doing SEO, getting traffic, etc. This free program works by itself (I studied every word of it), however if you sign up for the Premium plan, you get extra resources that speed up your progress. The premium plan has a monthly subscription that is less than $30 and you can stop it at any time. Premium membership includes:
Niche Finder Pro
Niche Finder Pro is their special tool for finding golden niches with lots of online demand, yet weak competition. This tool analyzes 4 factors for choosing a winning niche, including the absolutely critical Can I Rank? score (which tells you how easy it is to get ranked on Page 1 of Google for that phrase.
Supplier Directory Pro
Supplier Directory Pro contains the direct contact details for thousands of suppliers (both in the USA and throughout the world) that are willing and anxious to work with you. It identifies your competitors’ highest-quality, highest-value backlinks so you can easily obtain the same or similar backlinks for your site.
Rank Master Pro
Rank Master Pro is a suite of SEO tools to help you quickly achieve high rankings in Google.
Access to Ask-A-Coach
Store Coach has a Facebook Group where you can get input and advice from the coaches. But you can also submit questions to the coaches and get personal, direct responses within one business day.
Periodic Live Learning Workshops
As a Pro Member, you’ll be able to attend to periodic 60-90 minute learning workshops with the Coaches. You’ll be able to ask questions and discuss points with the Coaches. You’ll also have access to the recordings of previous live learning workshops.
My Wife Quit Her Job
This is an eCommerce Store related blog run by Steve Chou. He started his site in 2006 and last year he hit the 1 million dollar mark with his blog. He actually runs his blog by himself.
I totally recommend signing up for his free eCommerce e-mail mini course, How To Create A Niche Online Store In 5 Easy Step, which I myself studied and it is great stuff.
If you are serious about opening your own online store and you need someone to help you through the entire process step by step, he also has a full eCommerce course.
His blog also has a wealth of resources on the subject of eCommerce, such as finding your niche, finding vendors for your store, drop shipping, establishing your website.
I totally agree with him that if you are selling on Amazon or eBay, you should absolutely start your own store.