• August 2018
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What do I need to know before starting online store?

My answer to What do I need to know before starting online store?

Answer by Raad Ahmed:

Great answers here with regard to the technological aspects of setting up an online store.

Some other stuff to consider:

Market Considerations

Just as is the case for a brick and mortar store it is important determine if there is an adequate existing market or the potential for an emerging market of consumers to buy your goods. This becomes even more important given that online markets are easier and cheaper to reach when compared to brick and mortar stores, but also comes with the drawback that these markets can be difficult to model given their scope and size. Further, online retail is very competitive since you are ultimately competing on a global basis therefore it is important to consider the competitive landscape which includes an analysis of what is being sold, where it is being sold, who is selling it, how much is being sold and at what price.

Legal Considerations

Make sure that your website offers the necessary data privacy and terms of use that provide full disclosure to your patrons and to outline the terms of purchasing your products. Firstly, this not only reduces legal risk but it also reduces hassle that may arise from customers who may have issues with a purchase.

As stated by Alexandra it is also important to be certain all IP considerations are sorted out.

Lastly, make sure if you are selling any regulated products that require a special license to sell or require certain disclosures that these considerations have been attended to.

To get your business started on the right foot, LawTrades connects clients with handpicked business law attorneys on our innovative platform. We believe in helping businesses just like yours achieve success. In fact, we’ve already assisted over 1000 entrepreneurs with their endeavors. Feel free to message me if you have any other questions.

Good luck!

What do I need to know before starting online store?

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