How to Sell Online Without Inventory

If you’re wondering how to sell products online and want to avoid the hassle of physical inventory, you’re in luck. All you need is a computer and an internet connection, and you can start selling online in no time.

Global revenue for ecommerce is projected to reach?$6.35 trillion by 2027. So there’s never been a better time to launch your own store. The benefits of selling products online include its ability to connect you with customers from all over the world, its low barrier of entry for new entrepreneurs, and its potential to earn a substantial income from home.

And you can take advantage of this growing market without managing physical inventory. So let’s explore the different types of ecommerce businesses you can start without inventory, three steps for creating an online store,?improving inventory efficiency, and more.

How does selling products without inventory work?Essentially, selling online without inventory means using services such as dropshipping and print-on-demand. These services work because they allow you to sell products without stocking them in a physical location, like your home, office, or warehouse.

This benefits entrepreneurs because they don’t have to worry about purchasing and storing physical inventory. It effectively removes a lot of the risks associated with starting a retail or brick-and-mortar business.

Types of online stores you can start without inventoryEcommerce business models come in many shapes and sizes. Which one you choose will depend largely on the type of products you want to sell and the amount of time, money, and effort you’re willing to put into your business.

Here are five of the most popular ecommerce businesses that you can start without inventory:

1. Print-on-demand
2. Dropshipping
3. Affiliate marketing
4. Fulfillment by Amazon (FBA)
5. Third-party logistics (3PL)

1. Print-on-demand

2. Dropshipping

3. Affiliate marketing

4. Fulfillment by Amazon (FBA)

5. Third-party logistics (3PL)

Getting your online store up and running

Once you’ve decided on the type of products you want to sell, it’s time to get your online store up and running. There are a few steps that you need to take when setting up an online store.

1. Choose your ecommerce platform:?There are many ecommerce platforms that you can use to start selling products online. Popular platforms include Shopify, BigCommerce, and WooCommerce. Many big brands you know and love already sell on these platforms. Choose one or many and dive into multichannel selling.

2. Set up your website:?Once you’ve chosen your ecommerce platform, it’s time to set up your website. You’ll need to choose a theme, create pages, and add products.

Services such as Squarespace, Wix, and Shopify are popular choices for setting up online stores. And many provide templates that get your products listed quickly while still looking professional.

3. Get paid:?The last step is to set up a payment processor to get paid for your products. Popular choices include PayPal and Stripe. Though, marketplaces like Shopify and WooCommerce have built-in payment processors.

The upside to app-native payment processors is you can accept many forms of payment — credit cards, debit cards, and mobile wallets — to?reduce cart abandonment rates.

For more information on the 5 ecommerce business opportunities that NOT require inventory check out the expanded version of this article on our site.