Shopify has quickly become one of the most popular online retail platforms. Just ask makeup mogul/Kardashian team member Kylie Jenner, who’s sold $630 million since opening her Shopify store in 2015. But she’s not even close to being the site’s only massive success story. According to recent Shopify stats, the platform recorded their one-billionth order in the second quarter of 2018. That’s a lot of selling!
One of the most appealing things about Shopify is that it’s insanely easy to get started on. Shervin Mohseni, President of The Source of All, was able to set up his Shopify store in a matter of minutes. “Shopify offers a two-week free trial, which is more than enough time to get used to their platform before committing to launching an online store,” he said.
So if you’ve been thinking about getting your own piece of the Shopify pie, we certainly don’t blame you. But before you jump all in, it’s important that you go into it fully prepared, with all your questions answered. Like other businesses, do you need business insurance for a Shopify store? Well, that’s what we’re here to talk about.
In short, no. Shopify will not require you to have business insurance. The nice thing about this is you can easily start selling on Shopify right away. However, it’s still a business. And protecting yourself from liability issues is important, so we do recommend that you have coverage. After all, safe is always better than sorry. And in this case, if something goes wrong, the wrong could cross deeply into your personal life, and that’s never worth it.
Now let's move beyond the business insurance question. We want to help give you a good, firm foundation to build your Shopify store on. So let’s talk tactics.
The fact that you don’t need insurance for Shopify means you can get signed up and start selling immediately. It’s as easy as one, two, three.
According to Shervin, Shopify even offers their own payment gateway system called Shopify Payments. This system is connected to your debit/credit card, and all funds are deposited directly into your account daily.
Now that you’ve got the basics down, how do you rake in the bucks? Well, let’s learn straight from the horse’s mouth. Shopify recommends the following tips for being a top seller on the platform:
If your Shopify store is just a side gig or a hobby, you can probably last a while without needing insurance. But as soon as you go from a side hustle to a career, you’re making yourself, your assets and your business vulnerable.
There are a few situations and reasons that you should get insurance even if you don’t need it for Shopify.
There are endless types of insurance available, but only a few make sense for a small online business.
If you have more than one worker, even involved in your online business, you will also need to purchase workers' compensation insurance.
Getting your business started on Shopify is a smart move, and the tips in this article can totally help you get there. If you plan on your business growing, we definitely recommend investing in business insurance.
Insurance should cost no more than $250 to $500, which is a small price to pay for peace of mind.
https://www.shopify.com/blog/12936581-how-to-build-a-120k-per-month-ecommerce-brand-in-less-than-a-year© 2019, Consumer Agent Portal, LLC. All rights reserved.