Guides and tips
How to start your e-commerce business and accept payments with Klasha
The world is rapidly evolving, and today’s commerce system is no exception. Many businesses and trade stores are very serious about their online presence. The rationale behind this is simple: most people now prefer the ease of purchasing goods and services online rather than physically going to a store.
E-commerce businesses are the talk of the town, as online shops are booming. With retail e-commerce sales worldwide reaching nearly $5 trillion in 2021, now is the time to start an online business.
Three steps to create and launch your online store
Find and research your e-commerce niche
Like any brick-and-mortar business, researching the space you want to enter is very important. Understanding your target audience and product market demand is also vital. Consider:
What will your e-commerce business offer?
Are you offering products or services?
Will the product or service be physical or digital?
Where is the target market located?
What business model will you employ?
Will you provide single products, packages, subscriptions, or something else?
What will your startup costs be?
Will you need to obtain permits or licenses for the business you have in mind?
These questions will serve as your research guide and help you know more about your proposed business idea.
Although the unprecedented growth of the e-commerce industry is an excellent plus for online merchants, it also means the competition is stiff. In addition to choosing a business name and obtaining all the necessary licenses and permits, you also need to perform competitor research to find the best space to establish your brand and succeed in selling products and services. Researching and knowing more about your business niche is essential for online or offline businesses.
Choose an e-commerce platform and create your business website
You have completed all the steps to research your business, created a business plan, and followed through with all the required paperwork for your online business. The next step is to set up your website.
Like a physical storefront, this website will be the face of your business as it is the first impression prospective customers will have and where they will browse and purchase your products or services. You can reference our detailed guide on the factors to consider when choosing an e-commerce platform.
Here are some recommended platforms for you based on the user interface, ease of payment, and e-commerce capabilities:
Source and advertise your products or services
You are almost at the end of the process!
After thoroughly following step one, you should know where to source your products or services. You must provide ample information about your website’s services if you sell services. Selling products might involve more complex steps, as you will need to consider inventory, delivery services, SEO(search engine optimisation), and the order process, to name a few.
How can Klasha help you collect payments online?
Dedicated to borderless payments in Africa, Klasha has cross-border payment solutions that make online transactions easy and seamless. These offerings include:
Klasha Pay: Sell quickly in Africa by accepting payments in African currencies from your customers. Once integrated with your online store, Klasha Pay allows customers to pay seamlessly and have a great checkout experience courtesy of our highly responsive checkout.
Payment Links: Suitable for online and offline businesses, Klasha Payment Links allows merchants to create customised payment links within seconds. This online payment method requires no code, no website, and assistance from Klasha support to complete. Easy to create, share, and delete, this link can be shared via email, WhatsApp, Instagram, Twitter, and more.
Klasha Wire: Used to wire large payments overseas from Africa, Klasha Wire makes it easy for merchants to send money in their African currencies to their suppliers, who receive it in their dominant currencies like USD, CNY, GBP and more. Klasha Wire is fast, 100% secure, and has cheaper exchange rates.
Multi-currency accounts: Klasha's multi-currency account allows merchants to create virtual accounts in different currencies, such as USD, ZAR, NGN, and more, from the Klasha dashboard. Each account operates as a regular bank account with a unique bank account number. These accounts accept local and international deposits and facilitate outbound transfers across currencies to various local and global accounts.
Need more information about any of our payment solutions? Click here to schedule a call with our sales team.