If you are planning on starting your own business, the first decision is whether you are going to create an online business or an offline business. Of the two options, starting an online business has more benefits. Here are 6 reasons you should buy an online versus offline business.
#1 Reach More Customers
If you start an offline business, you can be successful, but only with customers that can get to your store. If you start an online business, you can reach customers all over the world. You can begin selling your products to people in France, Africa, Australia, and anywhere else in the world. When you can reach more customers, your business will be much more successful.
#2 Low Overhead
If you are starting an online business, there will be startup costs. First, you will need a professional website to sell your goods or services. If you are selling products, you will need a facility to store your inventory, and maybe a few employees. If you choose to start an offline business, your startup costs are going to be much higher. You will need to rent or buy a space, cover the utility bills, and pay any other expenses related to the space where you will be running your business. This will be much more costly than the startup costs for an online business.
#3 Freedom With Marketing
If your business is going to be successful, you will need a good marketing strategy. The marketing options that you have with an online business are much higher than those that you would have if you start a business offline. A few of these include:
- Make changes: Online marketing allows you to make changes if something isn’t working, such as new landing pages, order forms, newsletter, email sequences, and the site layout. Each of these things can be changed with a click of a button.
- Track with real-time results: With an online business, you can track your orders and success in real-time. Using Google Analytics, which is a traffic-tracking tool, you can observe changes in detail, allowing you to set realistic goals for your business.
- Demographics targeting: If you are running an online business, you can target specific customers based on their age, gender, and location. You can set the demographics to meet your needs.
- Online marketing tools: You can reach more customers by marketing online. Using social media, newsletters, blogs, and email, you have many more options and a better chance of reaching people when you market your business online.
#4 More Freedom
One of the most significant benefits of starting an online business is that you have complete freedom. As long as you have an internet connection, you can work anywhere in the world. Online companies allow you to work from home so that you can be there for your family. You have the freedom to take a vacation any time you like and still, run your business remotely. If you need freedom in your career, an online business offers the most freedom.
#5 More Liquid and Less Risk
If you choose to sell your offline company, it can take 12 months or longer, and there is a lot of work that goes into finding a buyer and a pushing the sale through. Online businesses can typically sell between 24 months and three years after you list the business.
#6 Beneficial For the Environment
Online businesses are better for the environment and offer significant carbon footprint savings. Since you and your employees can work remotely, there will be no transportation costs. Also, you won’t need to worry about utilities such as electricity, water, and heating. According to recent research, 65 percent of total emissions are generated by traditional brick an mortar businesses. If you are concerned about the environment, an online business is the better option.
If you are planning to start a business, you should consider going strictly online. Not only will your business be more successful and your marketing strategy more effective, but you will also be doing your part in protecting the environment.