Although many make drastic over-payments to launch their eCommerce business, this should not be an expensive undertaking. Even though turning a profit can be a lot more challenging than you’d expect, starting your eCommerce platform should be an exciting endeavor. Finding the right drop shipping fulfillment companies and fine-tuning your digital marketing strategies are some of the investments you’ll need to make to draw customers to your store.
Costs can quickly accumulate if you’re not careful and you don’t want to run out of cash before you even make your first sale. There are several expenses than can be entirely eliminated or reduced regarding the operating of an eCommerce store. Don’t take my word for it, see for yourself!
1. Streamline your inventory by carefully carving out your own niche. Select your product lineup sparingly. Most eCommerce stores find it simpler running an online store that has limited products. It’s easier to target a specific audience with fewer items that catch their interest, and ultimately draw them to view other offerings of yours that they may likely buy.
2. There seem to be a countless number of free tools available for any number of things, including attracting new and returning customers to your store. Sustaining business growth is not easy without an unlimited budget. Not all tools require a financial investment. Try to use free tools that will make your online life that much easier. There are free platforms available for smaller ecommerce stores from Mailchimp and Hubspot CRM marketing providers. These tools will ensure that you have access to essential marketing and store management. Do your own research, you’ll find a whole lot more!
3.Skip the retail packaging altogether. While glossy packaging and marketing materials are common in a traditional retail store, they are not necessary for eCommerce. These are only more expenses and you do not need them to make a sale.
4. So many individuals choose to run their store through Amazon where everything is stored for them. They do offer a whole lot of resources to store-owners but there is a huge cost involved for storage. Finding a better storage partner who will still provide you with stock while keeping it on Amazon for a lower fee, is a better option. Don’t stop looking for drop shipping and Fulfillment suppliers that are reputable and reliable to provide all your storage needs.
5. You cannot ignore taxes. Even if your store is exclusively digital you need to find out what the requirements are for you to collect and remit taxes locally or in your state. You could get into a lot of trouble if you overlook this aspect of your business. It may not be fun but you cannot afford to ignore tax-related regulations for your business. Hefty fines and interest fees which completely disrupt your business could be the result of choosing to ignore.
Operating expenses can be cut significantly even though you are still improving your ability to attract customers. Your store will generate an amazing and ongoing revenue stream while delivering quality products as you continually seek that which helps you increase your profit margins.
If you are a dentist or any medical professional looking for a space to lease for your new office, you are going to want to be working with a commercial realtor.
At first glance, you may feel as if a commercial realtor, or a commercial property broker will just be an extra expense to you while you set up your business, but in the long run – you’ll be happy that you chose to use one. Here is a simple explanation of why this is: Commercial real estate brokers who specialize in medical office space rental have the insider scoop on the best rental properties. They are experts at matching tenants with suitable spaces and negotiating for them, the best possible price. Realtors and lease brokers, also have the network relationships needed to find a desirable location where the property owner is going to be looking for longterm, permanent, high-earning tenants. They will work on your behalf to convince the best commercial space owners that having your business in their building we be a will win-win arrangement.
What if I forgo a broker and look for a dental office space for lease on my own?
Anyone can understand why a new business owner or someone who is moving or expanding their dental practice may be looking to save a bit of money. These types of changes cost money and the cost of preparing the space and potentially renovating it to make it a suitable dental office, already is going to be substantially expensive. However, if you choose to go ahead without a commercial real estate agent to help you negotiate your lease, chances are you’ll likely end up regretting it and paying more.
Why? Because quality commercial rental space operators prefer to work with tenants whose contracts are dealt with by professionals. They may not even publicly list their quality properties that are coming up for new lease agreements but instead only share them with their own network of brokers whom they have worked with previously.
Trust us, when we say that the best leasable locations will rarely be found on Craigslist or in a public rental listing. High-end properties for lease will be dealt with privately and negotiations on renovations, cost of leasing and leasing period will be conducted behind closed doors.
Obtaining these spaces is also highly competitive. Chances are ( depending on your location ) that there are other businesses trying to lease these great locations for their own projects. Without the help of a commercial property broker you will not be able to bid and barter your way into a successful lease agreement. Not to mention, the other professionals whom you will be competing with for the desirable locations, will likely have the upper-hand if they are using a commercial lease broker and you are not.
Finally, the last thing to consider, if you still think it is a good idea to give it a shot on your own, is the time, energy and money that it is going to cost you to deal with finding the space and negotiating the lease. In the end you may find that the cost of outsourcing the process to someone with more experience is well worth it considering what you will save yourself in stress and hassle. Plus, although you may have a fantastic vision about what you want your new dental Office Space to look like, you likely don’t have the background in property management and utilization to know what properties are going to work.
Very Few Medical Office Spaces Are Move In Ready
Something to keep in mind on that note is that very few dental office spaces for lease are going to be move in ready. Unless you are lucky and just take over a commercial space where a dental office previously existed beforehand, you are going to be looking at an extensive renovation and the cost of bringing in new equipment.
Depending on what type of business was in that office before you may be to create compartments and offices within the location or completely rework the internal layout.
You also will have to consider things like interior decor and design, that is, if you want your office to be appealing to your patients.
All of these things require someone to consult with who has experience assisting medical professionals like yourself, with setting up their businesses in a leased space. The commercial realtor will be able to work with the commercial property owner to negotiate responsibilities. Certain expenses, such as fresh paint, external building repair, heating, plumbing and electrical repair ( or modification ) may actually fall onto them and not on to you. Having someone in your corner making these arrangements, could in the long term save you a substantially large amount of money.
In addition to this you’ll have your own personal consultant who can provide you with advice and make suggestions on properties that may be appropriate. Think of it as has having someone else on your team who understands your vision and can look at space objectively and tell you if your ideas will work out or not. Good agents and brokers usually have an extensive background in interior design, architecture, and building construction. They will be able to extend this knowledge to you as their client and explain what needs to be done to a commercial space in order for it to work for the type of business that you are imagining.
Commercial Real Estate is Location! Location! Location!
If all of these other arguments have not convinced you that a commercial real estate agent is the way to go, this last one certainly will.
If you want your business to succeed – you do right? – then you need to obtain a financially lucrative location.
For a new dental office this means that there isn’t another dentist located nearby. There are people living in that area who are in need of dental services. The space is attractive enough that people who spend money on dental services will want to go there. And lastly, that there is adequate access as well as parking so that using your services are not an inconvenience to potential patients.
This is a lot to take into consideration for someone who does not have a previous background in commercial business or real estate. Where as, your commercial real estate agent will gladly take on the burden of worrying about all of these location details and come up with a variety of possible options for you. When you choose the right agent, they will do their homework, finding you great money making opportunities in neighbourhoods where your business will thrive. Then they’ll tour you around these locations so that you can choose the one where you will most feel at home.
Obviously, there is a lot more to setting up a new dental practice than just opening a newspaper and finding a commercial space that is available for lease. With so many things to take into consideration it is important that you have an expert to guide you through the process. For medical practitioners, commercial property brokers are worth their weight in gold. They do so much more than just help you find a location, they become a partner that you can utilize throughout the process, another person who is invested in the future success of your business.