For a very long time, to do business, you had to either buy or rent building space. While that certainly gave you a place to sell products, that business model also presents some distinct downsides. Real estate can be very expensive. There are also other fixed expenses like utilities that must be paid to maintain that space. Thankfully, there are some great alternatives for business owners to consider that can slash costs and increase efficiency. Below are five.
Ecommerce, or the sale of goods and services over the internet, has taken the business world by storm. According to statistics published by eMarketer, ecommerce will grow to almost $2 trillion by the year 2020. Selling products online can help to slash overhead and give your company access to far more consumers in markets all over the world than what is possible with brick and mortar.
Certain places like malls, airports, train stations, amusement parks and more see thousands and thousands of people every day. However, you don’t have to rent physical building space to take advantage of this massive amount of foot traffic. Setting up a kiosk in exchange for a small fee in such places can give you direct access to all these consumers to sell your products and services.
Another option you should consider is direct sales. This is a business model in which a company such as Newskin Products or doTERRA Products sells to consumers directly without having to go through a third party intermediary like a retail store to make the sale. Frequently the sellers in this model are independent consultants rather than employees of the main corporation.
In the old world, the way people purchased products wasn’t through brick and mortar stores. Instead, they used open air markets to buy everything they needed from ingredients for dinner to clothing to jewelry. With the growing popularity of farmer’s markets and flea markets, selling your wares in a market is a lot more feasible than it was only a few years ago.
If you want to sell your products in retail stores but don’t want to actually have to pay for the building space yourself, one great alternative is selling your products wholesale. Through this business model, your products are supplied to different retailers as inventory. A good part of the work is done for you.
Brick and mortar is one of the standard business models that has stood the test of time. Still, it has significant downsides as well. Consider these and other alternatives if you want to sell your products without all that overhead expense.References