Today, I have an exciting interview to share that will guide you on how to start an online store. I recently spoke with Jenn Leach, who has successfully transitioned from a corporate job to owning multiple e-commerce stores, earning an average of $19,000 per month. If you’re interested in making passive income, this is worth exploring!
Jenn, a corporate mom turned e-commerce store owner and blogger, started her online business over three years ago. She now runs three successful online stores and dedicates only 5-10 hours per week to her e-commerce ventures.
If you’re considering a new business or a side hustle, starting an online store might be a great option. Read on to learn more about how to get started and potential earnings.
### How to Start an Online Store with Jenn Leach
#### Background
Jenn is a Texas-based entrepreneur and blogger at Drink Coffee & Prosper. She has an MBA from Texas A&M University and a background in business and finance. After working in banking for 10 years, she decided to pursue her entrepreneurial dreams. She tried various ventures before finding success with a women’s fashion retail store on the Storenvy platform. Within a year, she was able to quit her day job and focus on her e-commerce business full-time. Today, she owns three e-commerce businesses and also teaches courses and blogs.
#### Earnings and Time Commitment
At her peak, Jenn’s three stores earned an average of $19,000 per month each. Her remaining store currently brings in $11K-$15K per month, and she spends about 5-10 hours per week on it.
#### What is an E-commerce Business?
An e-commerce business involves selling products or services online. Transactions are conducted over the Internet, making it a flexible and scalable business model.
#### Benefits of Running an Online Store
Jenn loves the flexibility of being an e-commerce business owner. As a mom to a special needs child and a wife to a disabled Navy vet, she appreciates the ability to manage her schedule. She also enjoys connecting with customers and values the unlimited income potential.
#### Income Potential
The earning potential for an e-commerce business owner is unlimited. Some even reach million-dollar revenues.
#### Steps to Start an Online Store
1. **Pick a Niche**: Decide what you want to sell, such as apparel, home décor, or electronics.
2. **Sourcing**: Find where to purchase your products.
3. **Set Up Your Store**: Choose a platform (like Shopify), buy a domain name, add products, and customize your store.
4. **Promotion**: Market your store to attract customers.
#### Products to Sell
You can sell a variety of products, including apparel, footwear, home décor, and digital products like ebooks. Physical products are typically sourced from wholesalers.
#### Finding Customers
Jenn has found success using social media to attract customers. Other methods include paid advertising, word of mouth, and email marketing.
#### Costs
Startup costs for an e-commerce business are generally lower than for brick-and-mortar stores. Initial expenses include inventory, platform fees, storage, and shipping materials. Jenn started with minimal costs by focusing on dropshipping. Maintenance costs include domain fees, hosting, payment processor fees, and advertising.
#### Additional Tips
– **Dive In**: If you’re interested, start small and test the waters.
– **Ask for Help**: Hire virtual assistants for time-consuming tasks.
– **Learn**: Educate yourself on strategies to succeed.
– **Scale Up**: Increase your ad budget to boost sales.
– **Diversify Income**: Explore additional revenue streams.
– **Network**: Build relationships with other store owners.
Starting an online store can be a rewarding venture. It offers the flexibility to be your own boss and the potential for significant income. Are you ready to start your own online store?