Starting an e-commerce business has a much lower barrier to entry than opening a physical store, but that doesn’t mean it’s a walk in the park. While it’s simple to get a website up and running, turning that into a steady source of passive income takes some effort and planning.
People are often looking to make money while they sleep, and online businesses usually fit that bill. With the right preparation or pivoting, an e-commerce brand can also be included. If you’re looking to make passive income, then you’ll be happy to know you can do so with an e-commerce site. In this article, we will give you the tips to help get you started.
1. Use a fulfillment company
One of the easiest ways to make your e-commerce business more hands-off is by working with a fulfillment partner. Shipping products yourself can quickly become overwhelming, especially as your orders increase. However, letting a fulfillment company handle your e-commerce shipping will save a lot of time and stress.
A fulfillment partner handles every crucial step of the order process, including storing your products, carefully packing them when orders arrive, and efficiently shipping them to your customers. They manage all the heavy lifting, ensuring your business runs smoothly and your customers are satisfied.
They’ll pick, pack, and ship the order without you having to do a thing. You can even set it up so this happens automatically, so you don’t have to worry about it at all.
2. Hire a VA
Hiring a virtual assistant (VA) is a smart way to make your ecommerce business more passive. A VA can take care of everyday tasks that can eat up your time, like adding new products to your site, creating product pages, and handling customer service.
Instead of spending hours uploading product details and images, you can have your VA do it for you. They can write descriptions, set prices, and make sure everything looks right before it’s live on your site.
Customer service is where a VA can be really helpful. They can answer customer questions, manage returns or exchanges, and deal with any issues that come up. With a VA handling these tasks, you won’t have to be glued to your computer, responding to emails all day.
3. Start out with the right model
Some types of e-commerce businesses are perfect for making passive income because they don’t require you to be involved every day.
For example, drop-shipping is a type of e-commerce store but without inventory. When someone buys something from your store, the order goes straight to your supplier, who then ships it to the customer. This means you don’t have to worry about storing, packing, or shipping anything.
Another good choice is print on demand. This is where you sell products like custom-designed t-shirts, mugs, or posters, but you don’t need to produce or hold any stock. When a customer orders something, a third-party company prints and ships it for you. Your main job is to create designs and promote your store.