Online Marketplace: what should I know?

#1
Hey Guys! I want to create an online marketplace platform. What are the main pros and cons of this business? I am a bit confused cause my friend told me that it’s not a very good idea. Maybe some of you can give me an insight?
 
#2
Hey Guys! I want to create an online marketplace platform. What are the main pros and cons of this business? I am a bit confused cause my friend told me that it’s not a very good idea. Maybe some of you can give me an insight?
How much did you shared with him? Because I believe if executed well it could indeed be a profit able business. But it usually ISN'T and thus it not entice sellers and buyers to get together.

However if you are able to offer benefits to BOTH sellers AND buyers yet make a profit from such then that's a step already taken cared of.

Other things you has to worry about are hosting, development and so on.
 

DeafDucky

Well-Known Member
#3
Hosting is a biggie... depending on what you are developing in too. There are some free offers but with strings attached unfortunately.

I'm trying to figure out how to host my React projects- notably my Git portfolio page I did in class; Was hoping to create/host a website (oh lord I suck at design...) and add that to the site rather than a boring ole link lol.

Whoops slight hijack.
No idea on online marketplace- it does take a lot of work...like Esty or similar.
 
#4
Hosting is a biggie... depending on what you are developing in too. There are some free offers but with strings attached unfortunately.

I'm trying to figure out how to host my React projects- notably my Git portfolio page I did in class; Was hoping to create/host a website (oh lord I suck at design...) and add that to the site rather than a boring ole link lol.

Whoops slight hijack.
No idea on online marketplace- it does take a lot of work...like Esty or similar.
Not to mention often frequent illegal stuffs that goes on in those boxes (like SPAM). Just isn't worth the hassles, just pay your ~$5 per month and call it a day.
 

Barbaro

Well-Known Member
#6
It requires a lot of works to sell your things on your website. You have to take good pictures with a good camera. You have to pay extra for advertising and SEO. You can use Instagram to draw customers. They're a must. You can't sell without them. I had done this before. I used to sell on Etsy, but I left Etsy for many reasons. I'm biased and I don't recommend Etsy.
 
#7
It requires a lot of works to sell your things on your website. You have to take good pictures with a good camera. You have to pay extra for advertising and SEO. You can use Instagram to draw customers. They're a must. You can't sell without them. I had done this before. I used to sell on Etsy, but I left Etsy for many reasons. I'm biased and I don't recommend Etsy.
The person meant like setting up a site like Fivver or Ebay where he/she can profit from the people by solely HOSTING it. Like I said it usually the poor execution that make them not be so cool. But if the execution could be done well then I don't see why this person could not do this.
 

Muse

Active Member
#8
Hosting is a biggie... depending on what you are developing in too. There are some free offers but with strings attached unfortunately.

I'm trying to figure out how to host my React projects- notably my Git portfolio page I did in class; Was hoping to create/host a website (oh lord I suck at design...) and add that to the site rather than a boring ole link lol.

Whoops slight hijack.
No idea on online marketplace- it does take a lot of work...like Esty or similar.
For hosting react, what about Digital Ocean? They tend to be cheap.
 
#9
For hosting react, what about Digital Ocean? They tend to be cheap.
Keep in mind there are generally two basic type of hosting

Shared or "split" hosting where you share everything with everyone else. It may or not comes with your own "slice" of hardware resources but the software and so on are always shared. Generally saving you money and often times hassles since no system administration is required on your end (like security and maintenance).

The one that your talking about is virtual hosting (as well as dedicated) also known as "unmanaged" hosting. Meaning you are responsible for EVERYTHING once it racked and "the LEDs are flashing". That why these are generally cheaper as your basically just renting the hardware resources and often not get much support included.
 

DeafDucky

Well-Known Member
#10
For hosting react, what about Digital Ocean? They tend to be cheap.
Yep Knew about Digital Ocean- I came across that a while ago when I was looking for some other reason (since forgotten). It came up again in my bootcamp slack channel- someone else was asking the same question I was wondering about and Digital Ocean came up along with another one (which I can't remember right now)

Keep in mind there are generally two basic type of hosting

Shared or "split" hosting where you share everything with everyone else. It may or not comes with your own "slice" of hardware resources but the software and so on are always shared. Generally saving you money and often times hassles since no system administration is required on your end (like security and maintenance).

The one that your talking about is virtual hosting (as well as dedicated) also known as "unmanaged" hosting. Meaning you are responsible for EVERYTHING once it racked and "the LEDs are flashing". That why these are generally cheaper as your basically just renting the hardware resources and often not get much support included.
Interesting! Thanks for the lesson. I had no idea- well maybe a slight idea- on the difference.
 
#12
Thank you for your answers!) I understand that it's rather big competition in this area and a lot of work need to be done before my idea or its MVP will live (and obviously it should be done really good). Now I am making research and gathering info( and money) if I am ready for it. Thank y'all.
 
#13
Thank you for your answers!) I understand that it's rather big competition in this area and a lot of work need to be done before my idea or its MVP will live (and obviously it should be done really good). Now I am making research and gathering info( and money) if I am ready for it. Thank y'all.
You are always welcomed! :)
 
#15
If you still doubt to start an online marketplace business or not - you can take a look at this article Online Marketplace Businesses: Key Benefits to Starting One
Very interesting but I find it hard to believe it not "much more" than a single eCommerce shop. Given that you need a rating system, qualification system, and so on that an eCommerce site doesn't normally ships with. It may be cost effective since you can kill two birds with one stone but simply implying that the cost different is "not much more" just puzzles me.
 

Barbaro

Well-Known Member
#16
The person meant like setting up a site like Fivver or Ebay where he/she can profit from the people by solely HOSTING it. Like I said it usually the poor execution that make them not be so cool. But if the execution could be done well then I don't see why this person could not do this.
Hosting is easy, but mastering it is difficult. I like Doteasy. I use it for a looooong while. It's an Canadian company and I've never had any problems with it.
 
#17
Hosting is easy, but mastering it is difficult. I like Doteasy. I use it for a looooong while. It's an Canadian company and I've never had any problems with it.
If you meant the actual setup of the account, any providers worth their salts will do at least a basic setup for you. More pricier options will even help you do other tasks upon request too. As long as it not actual coding/development works.

If you were referring to making it all work as in the website end (pricing, contents, etc) then yes that is a hurtle as well as actually finding your customers (both end customers and businesses).
 

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