The number of items to start an online store with can vary depending on several factors, including your business model, niche, resources, and target audience. Here are a few considerations to help you determine the right quantity:
- Niche Focus: If you’re operating within a specific niche, it’s advisable to have a well-curated selection of products that align with your niche and target audience. Starting with a smaller number of carefully selected items can help you establish yourself as an expert in your niche and ensure a consistent brand message.
- Market Research: Conduct thorough market research to understand customer preferences and demand within your niche. Identify popular products or categories that have good potential for sales. This research can guide you in selecting the initial set of items for your online store.
- Inventory Management: Consider your inventory management capabilities and limitations. If you’re self-fulfilling orders, starting with a smaller number of products can help you manage inventory more effectively, especially if you have limited storage space or resources.
- Supplier Relationships: If you’re relying on suppliers for product fulfillment, evaluate their inventory availability and lead times. Starting with a smaller product range can help you establish relationships with suppliers, optimize your order fulfillment processes, and ensure a smooth supply chain.
- Budget and Resources: Consider your financial resources and budget for sourcing and stocking inventory. Starting with a limited number of items can help you control costs and minimize initial investment. As your store grows and generates revenue, you can gradually expand your product range.
- Customer Experience: Focus on providing a positive customer experience. Having a smaller selection of high-quality products can help you ensure that you deliver consistent quality, prompt customer service, and efficient order fulfillment.
Ultimately, it’s important to strike a balance between offering enough variety to attract customers and effectively managing your inventory and resources. Starting with a focused selection of 20-50 products is a common range, but there is no strict rule. It’s crucial to continually evaluate your product performance, customer feedback, and market trends to refine your product offerings over time.