In case of the latter, you will have to spend money on domain name and server hosting space that can cost you between Rs 3,000-Rs 5,000 a year. Self-hosted blogs have an added advantage that it allows you to customise elements and functionality of your website. In case of the former, you need to make peace with the tools and plug-ins made available by the service provider.
If you want to sell products online, you may can it by creating your own website. As there's lot of competition and several existing websites in place already catering to this market, an attempt to create a niche in terms of products may be considered. Or, you can use the platform such as Amazon, Flipkart to sell. One can increase reach and visibility through affiliate marketing.
Set up the site. Choose a website building platform, such as WordPress, Joomla or Drupal. Next, choose a domain name and web hosting for your site. The domain name is your web address. Web hosting is a service that connects your site to the internet. Once you have your domain name and web hosting, go to the control panel of your hosting account and install your website platform. Design your website by choosing and installing a theme.
Research selling prices of items similar to yours. Look up completed sales or current listings of items similar to yours. Find the high- and low-end prices, and price your object around the median price level. If you want your item to sell quickly, price it at the low end. The condition of the item also affects the price. Items in poorer condition should be priced at the lower end. Also, consider how many listings there already are of items similar to yours. If many similar items will be competing with yours, you may have to set the price lower to get the sale.
Creating a unique tracking ID for an Amazon link is easy. Simply log in to your Amazon affiliate dashboard, click “Account Settings” at the very top on the right, then click “Manage Tracking IDs”. From there you can make a new tracking ID so you can track which web page/campaign sold what. You can learn more about using Amazon’s Tracking IDs here.
Find an audience for your passion or hobby and you’re all set to make money online doing something you love via a niche website. That of course, is easier said than done. Creating a profitable niche website takes time and is not intended for the faint of heart. But, if you can hurdle the steep challenges and positively answer a few key questions on whether the website business idea you’re thinking about is profitable, then you can begin building it and eventually monetize through advertising, affiliates, or other relevant products.