what type of business is shopify

are you looking to start your very own,drop shipping,shopify store and you don't know how to,get started then keep watching this,video,what is up everybody fred lam here and,welcome to my youtube channel where i,share everything on how to build,grow and scale your online business,and in our video today i'm going to,share with you the four,types of drop shipping stores that you,can actually create,for your business in fact if you are,already running a current drop shipping,store,and you're looking to create a new one,this video is going to help you out,on knowing how to actually structure,your drop shipping store for ultimate,success,but before we actually get into it make,sure that you smash the like button,subscribe to my youtube channel and hit,that notification bell so that each time,i release a brand new video,you're gonna get notified right away so,with that being said,first thing first when it comes to,creating a drop shipping,shopify store you need to actually,figure out,what type of store you want to create,now over the past decade of building,ecommerce businesses,and over the past several years on,helping students to go from zero to,generating over 45 million,online i've came to discover that there,are really just four,types of stores that you can actually,create,now don't get me wrong each of these,works,well in parallel with the product and,also,with the strategy that you are trying to,pursue and i'm going to explain that all,inside this video so type number one,is called the one product store you may,have heard of this term before,where you essentially just create a,shopify store,to sell one single product oftentimes,people actually create a one product,store as,a branded store so it looks very,very visually appealing and it does,nothing,but selling that one main product now,with that one main product,most of the time it's really a mid,ticket product,selling anywhere from 50 all the way to,a hundred dollars now when should you,actually create a one product store,and should you be starting with a one,product store,in my opinion i don't recommend,beginners,to actually create one product store the,reason why,is you are gonna spend a lot of time,effort and money,to actually create that one store and,placing all your bets,into that one product that you have not,even tested out,and knowing if the audience are actually,going to buy your products or not,so with that the risk for beginners to,create one product store,is very high however if you are,already a shopify or drop shipper,that knows what you're doing and you,kind of know already,ahead of time on what product is going,to sell for you,and you really want to actually build a,brand out of it,then one product store can obviously,make sense,it's more linear more focused at the,same time,however when it comes to a one product,store,you gotta understand that you won't,really get much,repeated customers unless if you are,selling,supplements which obviously one product,store,does phenomenally well when it comes to,supplements because people come back,over and over and over again to buy but,if you are selling just a physical,product that is a one-time purchase,only then you are not able to actually,have,customers to keep coming back to buy,that product from you,over and over and over again but at the,same time if you can actually have,a product in your one product store,where you can actually sell,accessories or refills that's gonna,actually skyrocket the sale and really,help you properly build a brand,all out of it so at the end of the day a,one product,store i don't suggest it for beginners,but if you are,already a savvy entrepreneur knowing,exactly what you need to do with,e-commerce,and you know that you have a product,that is doing well and you know exactly,what products in addition that you can,actually sell,with that main product that you use to,create your one product,store to get repeated customers that one,product store may work very well for you,now,type number two is called a general,store now you may have heard of the,general store many many times,and if i were to actually give you an,analogy of a general store,it's simply like walmart or targets,and cvs these are simply stores,that sells anything and everything and,it's all boiling down to how much,product you have,what is the price that you have and,actually how fast you really put the,product out,into markets now a general store gives,you a,advantage for beginners because you are,not going to be tied,down into a specific product or a,specific niche,you will obviously have more resources,and,more of a i would say opportunities,to find products that may sell for you,however with a general store in order,for you to actually get repeated,customers,it's going to be a lot more tough than,obviously,a niche store or a run product store,because now,you are selling anything and everything,and nothing is really linear,for you to actually build a relationship,with your customers,so ultimately if you are brand new into,drop shipping you never created a store,before this is the first time,you are going to actually take a jab at,it then i will tell you,general store may make sense for you but,at the end of the day,if you are looking to create your next,store i would say,don't start a general store if you,already,have some experience with drop shipping,at the same time,because ultimately nowadays with the,rising cost of advertising,in order for you to actually generate,more profits,it's all living right within the back,end which is what's happening,after a stranger becomes your customer,and how you are going to,convince that customer to come back and,actually buy,more from you now type number three is,called,the niche store which is one of my,favorite and the reason why i like niche,store,is because when you are selling products,within a niche you will know that every,single person that goes to your website,or every single customer they actually,have one thing in common they express,interest in the niche that you are,selling products,in and with that for you to actually,build a relationship with your customers,it's going to be a lot easier to,convince them to actually come back,to buy from you and as a matter of fact,if you actually create a niche store,you will have more of a chance to,find winning products because unlike,general store which you sell,anything and everything and you are not,really living within the niche and,knowing if that product sells or not,it's gonna be hard for you however if,you have a niche store,guess what you should already be in that,niche you yourself,should be also a customer so you know,exactly what are the problems people are,facing,so that you find products to actually,solve it and also,because you are going to be living,within your niche,you will know exactly what products have,been selling before or what product is,trending,and it's much easier for you to do so,now at the same time if i were to give,you a comparison for a niche store it'll,be,like a golf town a store that,specializes into selling,everything related to golf so that again,every single visitor and customer that,goes to your website,you know that they are all interested,into golfing,and for you to actually create a themed,and a brand,revolving around golf and establishing,relationship with your customers,by talking more about golf it's gonna be,a lot easier,and simpler from there now you might be,wondering well fred what is the fourth,type of store that you can actually,create the fourth type,is my new favorite and right now it's by,far,consisting a huge opportunity and as a,matter of fact,and also have all the advantages,that a niche store one product store and,general store has,and i call this the big niche store now,what is a big niche store a big niche,store,can be referenced as simply bed bath and,beyond,or dick sporting goods it's essentially,still within a niche but in a big niche,so let me take bed bath and beyond as an,example bed bath and beyond sells,everything on home and kitchen right so,then now you can actually sell anything,from home furnitures,you can sell home decor kitchen products,dining products gardening products,outdoor products,patio products barbecue products so that,that way,not only are you actually still living,within the niche of home and gardening,you're also having the ability,to actually sell all kinds of products,and give you literally unlimited,products to sell,unlike a niche store but unlike,a general store you're basically more,linear and focused,into that big niche and in fact with a,big niche store,you can also sell low ticket products,mid-ticket products and,high ticket products as well so that,that way,you're creating and building yourself a,go-to,place within that big niche so that,again,you're not going to be limited with only,a handful of products to sell,you can actually sell a lot of products,and still rapid tests,like a general store and still give you,the capability,and ability to actually build a,relationship with your customers,within your niche so ultimately as,you guys can guess my ultimate favorite,and my,ultimate advice is to create a big niche,store,whether you are starting out or if you,are already a,savvy drop shipper a big knit store is,definitely one,that's going to be good for you now,don't get confused between a business,store and,a niche store okay so let's say,a big niche store with dick's sporting,goods you can actually sell,all kinds of sporting equipments,outdoors,hiking camping running etc etc etc but,whereas,when it comes to a niche store you can,only sell camping products,right and that's not what you want you,want to actually move a step further,into the fitness store so that you can,actually cover more products,into your store but still having,that niche focus right inside,at the same time so i hope that this,video helps you out and understand the,clarity,on what type of store you should,actually create when you're starting,out or if you're trying to actually,build your next drop shipping business,now at the end of the day if you're,brand new to all this i actually have a,free book,called starting from xero i actually put,a decade of my experience,into this book that you can simply,follow,and actually start building your very,own drop shipping store,and start generating sales online i'll,leave the video link right down below,that you can actually simply just go,grab it so with that being said if you,are thinking about starting your,shopify store re-watch this video,and really choose the type of store that,you would love,now at the end like i said my personal,preference,is a big niche store but at the end of,the day all four,types of these stores can work,phenomenally well,but it all boils down into what your,ultimate goals are,other than just making money you got to,think further down in terms of short,term,and long term on what are the goals that,you want to achieve,with your store so with that being said,i hope that you enjoyed this video and,most importantly can add value into your,business,so make sure that you smash the like,button subscribe to my youtube channel,and hit that notification bell so that,each time i release a brand new video,you're gonna get notified right away,till next time

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