Running a business isn’t easy. Opening one isn’t either, obviously. Although some of the process is made a bit easier when we opt for e-commerce options, that isn’t always going to be the case.
After all, while we may not have to find a physical location to open in these sorts of scenarios, there’s still the matter of obtaining a domain for our website, finding a customer base, and plenty more. Overall, it can just be rather tricky to do, which is why it can be such a big deal to find alternative options.
The idea of having a business serve as a form of passive income is rather appealing, right? That’s where a Walmart Done for You store can come into play. If you would like to learn a bit more about how they work and what we mean by “passive income,” then make sure to stick around!
What are They?
Naturally, our first order of business is to discuss how this type of store works. At the core, one of the most important concepts to understand going in is what drop shipping is. It’s a type of business model in which a business or company purchases goods in bulk from a supplier and then sells them on an individual level to customers.
Essentially, these e-commerce shops become the middleman. Practically speaking, most of us probably don’t need to buy items in huge amounts for our everyday use. We need one sponge, not fifty.
That’s why drop shipping companies and businesses have become so popular lately in the e-commerce space especially. It’s been a booming industry for quite a while now, as you can read about in this article. It makes sense to want to tap into it, certainly, with all things considered.
Of course, there’s still the matter of having to deal with the ins and outs of running a business. That stuff really isn’t easy, and it certainly doesn’t scream “passive income” to most of us. So, how can we ensure that it is actually going to be easier for us? As you’ve likely guessed, it has to do with the “done for you” bit of our topic today.
How it Works
Now that we have talked about the basics of drop shipping, we can delve a bit further into how this whole process works. To put it simply, when you decide to open a done for you store (Walmart or otherwise), you are essentially deciding to be an investor in a business that will run itself for you otherwise.
Obviously, you’ll still have decision-making power when and where you want it. This style of business is especially popular because of how flexible it is for those of us who want to be investors. At the end of the day, it’s hard to deny that figuring out market trends and finding an audience isn’t exactly an easy task.
There are plenty of methods to get that data, but it does require some know-how and savvy in the e-commerce market. Sure, we can look at resources like this one, https://www.cambridge.org/core/journals/journal-of-advertising-research/article/abs/gender-and-ecommerce-an-exploratory-study/C5B9CA7E4EEB68C7B5DB0D826EB9E16A, but it’s certainly not an easy journey no matter what. Truthfully, it requires a lot of experience online.
That’s why having a team of experts who can do that for you can be so valuable. In a “done for you” business model, all you have to do is invest the money to open the business in the first place. From there, your team will be able to handle the rest for you, except when you want to get involved.
As far as what you’ll be in charge of, think of it this way – you won’t have to deal with the small, day by day parts of the company or e-commerce business. Rather, you can focus on big picture stuff, including what items you want to have in stock as well as what sorts of other investments that you want to hold.
There’s a good chance that if you’re interested in running a business like this, with the somewhat hands-off approach and the passive income aspect, that you’re also an investor in other fields as well. The ability to focus on that rather than having to be down in the weeds and handling the individual aspects of an e-commerce shop is perhaps the biggest benefit at play here.
With all of this said, you’re probably wondering how best you can succeed in running a shop like this. Well, some of the resources that we’ve provided above can help with that, but we’ll cover it briefly here. Much of it really will come down to the types of products that you decide to carry.
Consider consulting with your marketing team to figure out a target audience before you pick the products – that’s just one piece of advice that we have to offer.