Tuesday, March 13, 2007
I've been throwing around the idea of starting up a company that will focus primarily on acquiring and growing niche e-commerce websites. I think that with growing trends in online sales this could be an excellent source of income. I will be working on a business plan to clarify my ideas and develop a clear strategy in starting a business in this industry. My plan would be to diversify into different retail sectors to create a stable company that wouldn't be cyclical to help maintain a dependable stream of "year round" income. A few advantages I would have is in shear numbers: with enough sales I would be able to hire individuals who could specialize in areas such as SEO, customer service, marketing, etc. Each individual could focus on working on their own specialization for the company's portfolio of websites. Ideally, our product source would be drop shippers which would allow me to focus on sales and customer service, although most likely reducing overall profit margins. This will, however, be compensated by having a large number of profitable sites in various retail niche's.
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