Currently in Mexico there are millions of entrepreneurs looking to start a business, looking for a space to rent, items to sell, or suppliers who will sell to them at wholesale prices and thus generate a profit .
Setting up a physical store entails expenses such as:
- Monthly rent payment
- Painting and repair costs for the premises
- Investment in products
- Payment of electricity, water, telephone, and internet services
- Payment of salaries and taxes
These expenses can total approximately $35,000 pesos (for a small business). And to this, we must add additional expenses. For example, advertising for the business, whether in print, hiring sound technicians, or hosting staff. Or any type of advertising that will help the business become known and thus begin generating sales.
According to Forbes magazine , renting just one kiosk in a busy area of Mexico City can cost up to $30,000 pesos per month, with deposits of up to 42 months’ rent in advance.
However, technology and the internet now allow us to access more information about businesses and how we can leverage them when starting a new project. It’s now possible to gather information about what customers are searching for and brother cell phone list buying online. This can give us a huge advantage, as we can target advertising to people who are searching for our product and reach them through targeted advertising on social media like Facebook, or through AdWords.
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Advantages of the virtual store
Setting up a virtual store is much less expensive than setting up a physical store. Some expenses you should consider when setting up a virtual store include:
- Have a cell phone or computer
- Internet connection
- Annual payment for a domain and hosting for your website
- Advertising (there’s no minimum amount, you can start with AdWords or social media, and you decide how much to invest).
2. You can open several pages to see which one generates the most profit and improve them all.
3. You can run your business from home. Currently, there are large companies that don’t have a public location.
Success stories
Companies like Nike , Apple , Amazon , and Disney have started from a garage to slowly create large businesses that now dominate markets and are some of the richest and most powerful companies in the world.
In Mexico City, we have companies generating millions of pesos in annual sales online. They started with a small idea and developed a a further development: the shariff solution website that they’ve been improving until they’ve become big businesses, according to Forbes magazine . Here are some examples:
- GAUDENA : This e-commerce business sells clothing, shoes, and accessories. Its website generates 40 million pesos annually.
- CLIP : Develops credit and debit card readers and markets its service online. It generates approximately 30 million pesos annually.
- VIAJAMEX : This is a travel agency that advertises online and offers promotions and discounts to its customers. It has an annual turnover of approximately 30 million pesos.
- TRENDYTA : This is an online store that sells accessories from various designers in fashion, technology, and home decor. It has an annual turnover of approximately 5 million pesos.
Conclusion
With today’s technology, it’s possible to track your business and the growth of your online store. For example, you can see how your audience behaves, what they search for most, and which posts appeal to them the most. You can also use social media to share content about your products so your audience can learn more about them, and to respond online to your customers when they request your service.
The internet market is increasingly lucrative because people spend so much time online . According to the Mexican Internet Association , the average user spends seven hours and 14 minutes a day browsing the internet, primarily on social media, watching YouTube videos, and checking email.
These are statistics you can leverage saudi data to more easily reach your potential customers and will give you a good start to your marketing strategy. The result can be a business with significant growth potential and very good profits. The money you save with a brick-and-mortar business can be invested in growing your website and your audience, and you’ll also have more free time for yourself.