Wednesday, 14 October 2009

5 Things to Consider Before Starting Your Online Designer Handbag Business

So you love designer handbags? No one's disputing that. All we have to do is look in your wardrobe and stare in wonder at the various shapes, sizes, textures, colors and brands of designer handbags and wallets you have in there. Prada, Fendi, Gucci, Balenciaga, Miu Miu, Christian Dior...If it can be named, then its somewhere in your wardrobe.

But that's not enough. You want to step up to the plate and share your love for designer handbags with other people by starting an online business.

I congratulate your entrepreneurial aspiration and can assure that it can be quite profitable. However before you step out of your comfort zone and begin walking on water, I'd like you to consider the following.

1. Make sure there is a Hungry market - No use stocking and selling designer handbags that no one wants to buy. Yes, we know that special purple check clutch bag you bought from a designer store in downtown Tennessee while on holiday gets you stares whenever you go to a party.

However it might not necessarily appeal to a mass market when you sell it on your online store. So do some research and find out what styles are hot and are selling. You're in business first and foremost to make a profit and not to be cool.

2. Find a supplier for the items you want to sell - Hopefully you're in this for the long run so you'll want to find a supplier that has a variety of the handbags you want to sell. Your supplier should also be someone you can chat with and seek industry/product advice from. Also ensure the price you are charged allows you to make a profit and stay competitive.

3. Build your website ... fast and furiously - why fast and furiously? Because its at this stage that we all want to become all artistic and creative. I can assure you that some of the most ugly, unfriendly, full of copy websites out there are great money makers. Also there is something else you want to focus your attention and energy, time and money on and you cant do that until your website is up and ready.

A few necessities for your website will include a shopping cart to process orders, a merchant account to accept credit card payments, a disclaimer page, FAQ section, a little bit about you, a contact us page and you're more than ready to rock and roll.

4. Drive traffic to your website - Now this skill is what seperates the wannabes from the true pros online. Your ability to send traffic to your website. What's the use of having the best website on the planet if no one's going to visit. A few thing you can do to drive traffic include

- PPC - Pay Per Click advertising which is basically advertising on the major search engines like Google, Yahoo and Bing. People click on your ad and voila! They arrive on your website

- Advertising on comparison sites like pricegrabber, Nextag, Google shopping etc

- Article marketing - post an article related to designer handbags or fashion on one of the article directories. I would recommend or Place a little bio about yourself at the bottom of the article. When someone finishes reading your article, if they like what they see, they can click on the link in the bio at the bottom of your article which will lead them to your home page or any page you desire.

And there are other ways to drive traffic to your website. Don't forget word of mouth.

5. Take care of Your Customers - Some people think because they're online, it gives them the right to treat their customers like kitchen rags. No Ma'am. It very easy for your firm to be reported to an established authority who could black list your firm.

Also angry customers could post poisonous comments about your website on blogs, youtube, forums etc You get the picture. Treat them well and they'll become evangelists for your business. If you're not ready to treat them well...matter of fact treat them with excellence, then don't step into the ring.

So there you have it. 5 Things I think you should seriously consider before starting your own luxury designer business online. Did I miss anything? Please feel free to include your comments at the bottom.

Have a great day

1 comment:

  1. Really found this helpful. Not thinking of starting an online business but if I do, I'll consider the points you mentioned. Thanks for sharing