Startup Model – Platform for Ecommerce Support

THE MODEL: A platform for entrepreneurs looking to start an ecommerce store. A bundle of back-end services are provided to ensure smooth functioning of the store. Services include legal formalities, sales and promotion assistance, payments and security infrastructure, customer service modules and an accounting system.

STARTUP: Incir (Turkish startup)

WHAT I LIKE

Core Idea – With a rapid rise in ecommerce stores, a support platform is a good business model.

End to End – Providing a comprehensive list of services is key to ensure the best experience for the customer and higher retention for the startup.

CONCERNS

Competition – Established players pose a big threat to local players like Incir. Certain services like legal and accounting formalities cannot serve as a sustainable differentiator.

Startup Model – Islamic Fashion E-Commerce

THE MODEL: An ecommerce platform for women offering the latest in Islamic fashion. All products are selected by the startup before being added to the portal. The portal has over 300 brands offering more than 30,000 different items. The startup also has a few trials stores for customers in Istanbul.

STARTUP: Modanisa (Turkish startup)

WHAT I LIKE

Core Idea – An Islamic fashion ecommerce portal targets a niche audience.

Niche with Curation – A curated ecommerce platform around a niche is a good and differentiated offering for customers.  

Trial Stores – Offering a physical place to try the products ensures more customer confidence, though it somewhat dilutes the benefits of purchasing online.

CONCERNS

Competition – Horizontal ecommerce players post a big challenge to niche ecommerce players.

Steps to Start an Ecommerce Site from Scratch

Ecommerce refers to selling product or services online. The following are the steps to start an ecommerce site from scratch.

Finalising the Idea – Know what you want to sell.

Finalising the Model – How will go about structuring your backend? Will you stock inventory or not? How will delivery and logistics work? What is the payment mechanism?

Building a Team – You should ideally have domain skills, marketing skills and tech skills within your team.

Registering a Company – You can start with a partnership instead of a company.

Getting Licenses – These include tax registration numbers.

Building a Web Store – Can be outsourced initially.

Marketing your Website – Since the store is online, marketing online will prove best for you.