The most valuable thing that teenagers have is time. With time, you can pick up new hobbies and skills that can be profitable. If you have a hobby that you are truly passionate about, chances are that it can be turned into a profitable business. With the advanced technology available at our fingertips nowadays, opportunities are available to anyone, anywhere. The popularity of e-commerce platforms has recently skyrocketed, especially during the pandemic. In this article, we will evaluate different e-commerce platforms that you sell your products or services, and determine which one is the best match for you.
Etsy is an e-commerce platform specifically directed towards crafty homemade items and supplies. This includes handmade and custom jewelry, accessories, toys, and craft supplies. According to an article published by Statistia in March 2020, Etsy has reached over 42 million buyers globally in 2019. They have successfully connected all art enthusiasts onto a single platform, which makes it more convenient for buyers to find their desired items, and sellers to find an audience for their products. As a seller opening an Etsy store, you will have to pay a fee of 3-5% plus $0.25 CAD to the site. Etsy’s chargers can be more promising to new sellers as they do not require a subscription or listing fee, only charging you when you make a sale through your Etsy shop. This is perfect for teenagers that are passionate about handmade and crafting items, and Etsy doesn’t require financial or time commitment, teenagers can run their shops in their spare time.
You have probably come across Shopify, and how it is replacing brick-and-mortar stores internationally, saving failing businesses, and changing the retail industry. With so much buzz going around the e-commerce site, there are actually quite a few reasons for its popularity and first choice amongst sellers, specifically the perks that come along owning a Shopify store. As a seller, you will have access to Shopify’s large network. This includes Shopify’s infamous dropshipping system, which according to Shopify’s website, lets you sell products by using a supplier that holds the inventory and ships the product for you. This means that sellers pay the wholesale price of a product to the supplier, sell at a high retail price through Shopify to buyers, and the supplier will directly ship the items to the customers. This flawless system is a win-win situation for all parties involved, with suppliers earning revenue, sellers earning profit without storing inventory, and buyers gaining an efficient and satisfactory purchasing experience. This practice is commonly used amongst YouTubers and artists, where they mainly focus on designing products. For every item purchased, suppliers will manufacture the product and ship directly to the customer under the seller’s brand name.
One of the other perks of owning a Shopify store is gaining access to chain shipping services. If your e-commerce store is eligible for Shopify’s shipping services, you will be able to ship your products globally with large brands like FedEx, UPS, Canada Post, and DHL. Using these services allows customers to purchase from anywhere in the world securely while improving your brand’s image as well. Shopify also has a built-in SEO feature, in which they auto-generate files and tags on your store, guiding you in the process of appearing in large search engines. Therefore when customers are looking for your products and brand online, it can be easier found.
Shopify charges a $29 monthly fee, with 2.9% plus 30¢ per transaction. This is a small fee sellers pay compared to brick-and-mortar or starting their own store. Shopify offers an all-in-one package, which allows buyers to have a comfortable shopping experience with your brand, and as a seller, you can focus on the artistic and creative side of your business. Big brands like Holland Cooper, Hasbro, and The Economist all own a Shopify store. Shopify’s promising formula has proven itself from time and time again, and with annual sales totaling in the trillions, it has established itself as a well-respected e-commerce site. This may not be as flexible as other e-commerce platforms, but running a store through Shopify can teach you a lot about budgeting, online marketing, and online retail, all of which are valuable skills in this capitalistic day and age.
If your passion is for fashion, then Depop may be an e-commerce platform just right for you. Depop is a fashion global marketplace, mostly with vintage or thrifted items from fashion fanatics. By selling on Depop, you will gain access to a large community of 18 million members, it is almost guaranteed you will be able to find customers that share the same style as you do.
If you aren’t interested in committing large amounts for time and energy into building an e-commerce store, then Depop might be the perfect site for you. Depop charges 10% per item you sell, which may seem expensive to startups, however, Depop doesn’t charge a monthly subscription fee. Depop only earns money when you do, so there is no investment or a minimum number of sales that sellers have to make per month to break even and prevent losses. This is the perfect platform to sell thrifted items, earn a couple of loyal customers, and profit off the side, without making large financial commitments. Teenagers can sell and package items and manage their Depop page on the side.
All of the e-commerce platforms mentioned above are great places for teenagers to start a small profitable project on the side, and it really comes to what you are selling. Through designing, launching, and running a new business, with persistence and using your resources, young entrepreneurs can be tomorrow leaders and build the next big empire.
By: Quenifer Lung
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