As you may already know, ecommerce is the fastest growing segment within retail and there is no exception to nutritional type of products. According to some of the research we did, the nutraceutical industry is about $73 billion per year and the sports nutrition industry is about $16 billion per year, with fast growth trajectory still ahead. So, starting a nutraceutical and muscle supplements ecommerce store makes a lot of sense on many fronts.
First, by entering into ecommerce your reach is far greater than a brick and mortar store. Location is paramount for a retail store front versus an ecommerce store. Online definitely has the edge versus a physical store.
Secondly, start-up costs are much less for an online store versus a retail store. Your overhead will be much less because you won't have to pay for rent, pay employees to man the store, or keep much product on hand. There are many distributors in the industry that can drop ship for you. Of course to get the best price, you'll need to purchase product but you won't have to initially. Do your own research because it depends on your manufacturer and distributor's terms. All in all, I would guess that your start-up costs are about 70% to 80% less than opening a store front.
Creating an online website also give you much more flexibility. If you needed to change mix of products or marketing you can do so with a website very easily. You can turn on a dime with an ecommerce store. It's not to say you can't do the same with a retail store front, it just may take a little longer. For a muscle supplement ecommerce website, adding and deleting products is simple and the same goes for a nutraceutical ecommerce website. Marketing is also much easier with a 3dcart supplement ecommerce website. 3dCart has a crm (customer relationship management) tool built into the website giving you great marketing capabilities.
Although starting an online store is much easier and costs less there are some disadvantages.
The first one I can think of would the cost to be found. This is a variably that a lot of new online entrepreneurs do not think about. They think, hey, I'll start a lucrative online store and make a bunch of money. However, being found can cost a lot of money. Try googling the word "nutraceutical" or the key term "muscle supplements", millions of competition come up. Your likely hood of being found on the first page of Google anytime soon will be a long time waiting. However you can use social media to get found. All you need is one social media influencer and your products can take off like a rocket. Don't get discouraged, try to use all the media outlets at your fingertips. Perseverance will pay off.
The second disadvantage you may encounter is finding a nutraceutical and muscle supplement merchant account. A retail store takes the cake hear because the card is present for all transactions and the chance for fraud diminishes by 99%. For some reason there are a lot of charge backs for online sales of nutraceutical and muscle supplements. So most card processors shy away from these high risk industries. easy ePayments welcomes nutraceutical and muscle supplements merchants. We are backed by several high risk banks including a Fintech bank that accepts these merchants.