When aspiring entrepreneurs and brands think about launching a multivendor store, there are a lot of questions that they need to answer. In this post, we will try to answer all the basic questions related to starting a multi-seller store for the first time:
A multi-vendor store is a website that hosts multiple vendors and provides them the opportunity to sell their products on a single platform, generating unique benefits for both store owners, vendors, and customers.
Read in detail about how multivendor business model works
There are three types of multi-seller stores:
B2B: Business to business multi-vendor marketplaces that allows vendors to sell their products to other businesses. Purchases are usually in bulk.
B2C: Business to customer multi-seller stores let vendors sell their products directly to customers. Purchases are usually in small numbers.
A multi-seller online store can be launched using two popular methods:
Option 1: Getting it developed from scratch by hiring a web development firm. This is a time-consuming model of launching a multivendor platform since everything is built from scratch. However, the scope of customization is huge.
Option 2: Using a turnkey multi-seller store builder. Modern online store builders like Swiftkart has made it less time consuming to launch a mega online marketplace. Everything is not built from scratch but still, the scope of customization is huge.
Building a multivendor store from scratch can cost anywhere between 10,000 USD to 30,000 USD depending on the type of features and capabilities you require.
Building with a turnkey multivendor store launcher means you will be spending anything between $1000 to $10,000 USD depending on the customization you request.
People who run multi-seller websites and host vendors have a lot of monetization options available to them. Below are some of them:
Commission on every product sold
Instore advertising
Exclusive seller fee
Flagship products
Membership fees
Read the blog to learn everything about the multivendor business model
Above are the frequently asked questions about multi-seller online store development and launch.
Your e-commerce store query was not answered in the above FAQs? Email at info@techosquare.com to consult with experienced multi-seller store builders for free.
