Starting an online business is the dream of many people. However, in a space that is already crowded, it is often difficult to find a niche that doesn’t have far too many players already. One niche that is not yet saturated is the online eco business niche.
As the days roll by, more individuals are becoming aware of the dangers of our actions on the ecosystem. A study done in the UK for example, says two thirds of shoppers are more ecologically aware than they were 10 years ago and more members of the public are becoming more concerned about the threats we pose to the environment.
In the USA the story isn’t different as this survey found out.
With more people becoming ecologically aware, now is a great time to start an online eco business. We take a look below at some of the things you need to succeed.
Sell the right eco-friendly items
Some of the best eco-friendly items you can sell in your online shop include green construction materials, energy efficient appliances, solar panels, organic clothing, organic cosmetics as well as organic foods. These are some of the items that ecologically aware individuals are always after. Take a look at the logistics behind each one carefully to be sure you can afford to start a business around it.
Understand the current trends in your locality
Choosing the right products for a specific location will significantly increase your chances of success. For instance, an online eco business that sells organic food around a city or any high-brow area has a good chance of success as many people in these areas will be happy to pay for organic foods. Chance of recording same level of success with the same business in rural areas where people have gardens is slimmer. In some places, cosmetic products with toxins and non-biodegradable substances have been banned. Selling high quality green cosmetic products online in such places will lead to success.
Understand pros and cons of the niche
A green online pastry shop for example will be more profitable during certain months. Green photo processing or printing products are also more profitable at certain periods. You need to find out the most profitable periods for your niche and ensure you are well stocked within that time. You can cut back on production or purchase during the less profitable months.
Understand the financial needs of your eco online business
Finances play an important role when it comes to opening your online eco business regardless of the scale. With small investments, you may get slow but gradual ROI but with big investments, you will get faster ROI. You have to decide the scale of investment into the business by working out the level of risks you are willing to take, the level of profits you will be comfortable with and the amount of backup funds you are willing to set aside for the smooth running of your business. Getting your finances sorted is important if you are to avoid the financial problems that plague new businesses. This video clip goes over some of the common financial concerns that many small business owners have. guide discusses other things you should do to ensure your finances in order.
Use a mobile friendly online shop
Around 60% of people make purchases on their mobiles. Therefore, your business will most likely struggle if your online shop renders poorly on mobile. It will also be harder for people to find you through the search engines as Google now gives priority to mobile friendly sites in search results.
Talk to your webmaster to ensure you get a fully functional mobile friendly online shop for your eco business.
Some businesses still struggle even when they seem to have everything in place ranging from reliable staff to high quality green products. Such businesses may be suffering as a result of poor marketing. For example, you can no longer ignore social networks when marketing as 71% are more likely to buy based on social media referrals. Advertising on social media is also much cheaper than other traditional means of marketing and can therefore save you money.
With the right level of knowledge and passion, you can build a successful online eco-friendly business.