Buying a ready, off the shelf ecommerce store can be quite tricky because duping and fraudulent practices are prevalent everywhere. As a result, there are a number of elements that you need to factor in before consider purchasing a business for sale. Otherwise, you might end up getting ripped off. One of the biggest drawbacks of making a mistake on a purchase like this is that you lose your motivation to begin the online journey for quite some time and this can sometimes be quite detrimental if you plan on being an online store owner.
The following are some of the most widely made mistakes and the ones that you should avoid to make the first leg of your ecommerce journey as smooth as possible.
Owner assurances about potential profitability
This is one of the most common rip-offs when shopping for a business or website online. Everyone is trying to sell what they have and sometime owners will have you believe that due to one reason or another, they weren’t able to pay much attention to their website. However, they will try to sell you on the fact that if you could invest time into it, the platform has the potential to generate substantial revenue. Never fall for this because if this claim was true, it would already have been implemented in one form or another. Make sure that you perform thorough research before buying any online platform sold using this type of sales pitch.
Skipping thorough research before making a purchase
Any consumer purchase decision needs to be made while evaluating alternatives. It is an essential element of every buying decision because human beings are wired psychologically to practice due diligence before they purchase something.
This is important in terms of buying ecommerce websites as well. Find out all you can about the website you’re about to buy. Research the reasons why it has been put on sale. Evaluate your own options and abilities to be able to rescue that business and make it profitable for yourself. Once you have satisfied these questions, only then make a purchase.
Not checking user and analytics data
Previous data is extremely important in determining the abilities and potential of the website in question. This data can easily be acquired from the previous owner and is not very difficult to analyze because Google analytics classifies this information in very simple terms with the help of graphs and charts. This makes it very simple to extract relevant details. This then allows you to estimate how the website performed under the previous owner and how it will perform under you. You should also take care to evaluate the backlink profile and social media profiles of the store in question to make sure that nothing looks out of order.
Rushing a purchase for any reason
Being in a hurry to purchase a store in order to start selling your product or service is never a good idea. The rush makes you ignore a number of critical elements that can pop up after you’ve purchased the store. At this point it is too late to do anything and it might end up costing you a lot more than you anticipated. As a result, instead of making of making money you end up losing loads of it just because you were in a rush to get started.
Thinking once you’ve bought the store all will be well
This is the most frequently reported mistake that first time business owners make. Buying a store or website is only the first part of a really long and complex process in creating a profitable business online. The tweaking and regular maintenance of the platform are the parts that are essentially much more important because they determine the success or failure of your investment.
Apart from the above guidelines there could be hosts of other technical issues on online purchasing like using public Wi-Fi system, using same password for different websites, ordering from unknown and not-secured sites, using personal debit card etc. If you’re looking for a reliable place to purchase an online store, you need to look at a variety of different options from a host of fields that you might be interested in. Make sure to follow all of the above tips and be critical and discerning about what you are planning on purchasing. Otherwise you may end up with an online store that is impossible to turn around and make a profit off of.