Ten ways you could make money on Shopify

With over half of all retail spending predicted to be online by 2028, e-commerce platforms such as Shopify are in increasingly high demand from merchants looking to increase their customer base.

As of 2023, Shopify has over 2 million users and is one of the world’s leading e-commerce platforms.

Plenty of e-commerce platforms are available, such as WooCommerce and Wix, and many have similar functionality.

Most platforms generally allow start-ups to set up an online store, stock it with products – both physical and digital – and handle payment and customer details, such as tax, shipping, and customer communications.

Many e-commerce platforms are free to use, though some will charge a fee to add features such as the ability to take payments, and others, such as Shopify, charge a small amount for running a store on the platform – Shopify pricing starts from around £25 per month for a basic online store, for example.

Other platforms, such as WooCommerce, are entirely free to use, but you’ll need to design and develop an e-commerce website or use one of the thousands of free e-commerce themes to quickly get started.

Read our guide on low-cost e-Commerce platforms for your start-up.

How you could make money on Shopify

Please note that the options below provide brief overviews only and do not detail all of the considerations or factors involved.

If you are considering pursuing any of the options below, you should seek independent specialist advice to determine if the option is right for you.

1. Set up a shop

Shopify is an online shop builder that makes it easy for entrepreneurs to set up an online shop.

Once you’ve created an account, you follow the step-by-step guide to upload products to sell, host the site, and offer a payment method to enable you to take payments from customers.

After setting up a payment plan, you can create a domain name and customise your online shop to suit your needs, including uploading photos and listing product descriptions and prices.

If you’re considering selling physical goods such as clothing, the Shopify App Store has apps to help you find suitable suppliers for your business.

It’s important to research suppliers to ensure you choose legitimate suppliers you can trust.

For managing your stock, Shopify includes built-in inventory management tools which monitor stock levels and notify you when it’s time to replenish stock.

One of the best practices for growing a Shopify business is to use Shopify’s analytics, where you can review your shop’s activity and gain insight into the visitors and customers.

This can help you track your business’s growth, monitor sales, and flag any areas for improvement.

Looking for a green supplier? Read our guide to find out how to locally and ethically source green suppliers.

2. Sell digital products

If you’re looking to make a business selling digital products, sellers on Shopify can sell various digital merchandise, such as:

• e-books
• online learning courses
• stock photography
• Non-fungible tokens (NFTs)
• IT Software
• music files
• videos.

Selling digital products on Shopify is straightforward as the platform has a digital download app.

Hosted by Shopify, sellers and customers can expect secure deliveries of all downloads.

Shopify can also integrate seamlessly with non-Shopify apps and tools.

You can create Shopify templates and themes to help draw attention to your shop.

For security with digital downloads, Shopify allows sellers to set expiration dates on downloads and create password-protected files, preventing unauthorised access.

Digital downloads have lower overheads as you don’t have the cost of inventory or shipping costs that can be expensive when selling physical products.

Read our guide on successful blogging for start-up businesses.

3. Dropshipping

Shopify’s dropshipping model could be a low-risk way to start a business.

Sellers don’t need to purchase inventory upfront or pay for warehouse spaces for stock, making the business potentially more cost-effective by reducing the risk of stocking unsold inventory.

Dropshipping gives sellers more time and flexibility to run their business, as inventory and deliveries can be managed almost anywhere with an internet connection.

You can locate dropshipping suppliers from various UK dropshipping directories.

A good practice for dropshipping start-ups is to choose suppliers who offer top-quality products, reliable shipping, and good customer service.

You can do this by checking to see their positive reviews and ratings.

Shopify offers advice on dropshipping and includes dropshipping integration apps on the Shopify App Store to help you find the right one for your business.

Read our guide on dropshipping and how to launch a low-cost business.

4. Sell handmade goods

If you are passionate about making products by hand, such as anything from candles to greeting cards, Shopify could help you establish a business selling them.

The platform allows you to set up product listings where you can upload high-resolution photos, detailed descriptions, and pricing information for each product.

When selling handmade goods, use Shopify’s built-in marketing tools, which include email marketing resources and social media strategies; these can help you reach your target audience and generate more sales.

Read our guide on how to turn a hobby into a profitable business.

5. Print on demand

You can use Shopify to set up a print-on-demand (POD) service where you create and sell custom products.

If you’re looking to sell POD goods such as:

• t-shirts
• mugs
• stickers
• artwork
• posters.

POD can be a good choice on Shopify as you don’t need an inventory of stock.

Simply create the item when it is ordered.

Shopify allows you to team up with POD services to help you find the right service for your business.

Shopify’s app store has access to POD apps such as Printify, which can help you create high-quality designs to appeal to your target buyers.

When selling POD goods, consider using high-quality mockups that give customers an accurate idea of their purchase.

This may help reduce the likelihood of returns and strengthen customer trust.

6. Affiliate marketing

If you are an influencer or content creator with a loyal following and active website, Shopify affiliate marketing could be an option.

Joining the affiliate programme with Shopify allows you to earn a commission to bring subscriptions to Shopify.

Shopify gives affiliates a unique referral code to promote to their audience on various marketing platforms, such as social media, email marketing, and blog posts.

To help them advertise effectively, Shopify supplies affiliates with helpful marketing resources, such as banners and email templates.

Read our guide on how to use affiliate marketing to help grow your business.

7. Sell services

If you have valuable skills in web development or design, marketing, and consulting, Shopify could help you sell your services through Shopify Experts.

Shopify Experts is a community of freelancers and agencies that exclusively sell their skills and expertise to clients.

Shopify allows you to create an online profile that showcases your skills to potential clients.

Additionally, prospective clients can post service requests on the Shopify Experts Marketplace, allowing you to submit proposals and bid on new projects.

8. Influencer marketing

Influencer marketing is a modern-day form of marketing that could effectively increase sales and attract more customers to your Shopify business.

Before hiring influencers, you may want to consider the influencer best suited to your brand; for example, if you’re marketing sporting equipment, finding health and fitness influencers to promote it is a good idea.

You can reach out to influencers directly and pay them for their services or gift them a sample of your product in exchange for promoting your merchandise on their social media channels.

Looking to promote your business on social media platforms? Read our guides to advertising and marketing on:

• Twitter
• Instagram
• TikTok
• Facebook
• YouTube
• LinkedIn

9. Create a shop app or theme

It could be profitable if you are an app or theme developer and sell an app or theme through Shopify.

Shopify supports users by offering various development tools, like REST Admin API and The Shopify Theme Editor.

Designers and developers can gain support from Shopify by placing a team of experts on hand to provide technical support alongside a community forum which allows users to share insights and gain advice from one another.

After developing your app or theme, you can submit it to either the Shopify App Store or Theme Store for a review.

If Shopify approves your theme or app, you’re ready to price, market, and sell it.

10. Provide Shopify-related services

You could also provide paid services to clients who use Shopify.

Some examples of this are:

• store setup – help clients set up their store by developing custom themes, logos, and product pages
• SEO marketing and advertising – create and implement marketing strategies to promote the store, which can entail email marketing, search engine optimisation (SEO), and social media marketing
• content creation – provide copywriting, graphic design, and product photography for a client’s blog, website, and social media channels
• store migration– help migrate the store to Shopify from other platforms; this can be a complex process as it involves transferring data, but effective services can help the transition to run smoothly
• technical maintenance– provide technical support by running regular account updates, offering troubleshooting solutions, and ensuring all security protocols are maintained.

There is a market for a wide range of products and services on Shopify, regardless of company size or industry.

Entrepreneurs could build a successful e-commerce business on Shopify with a well-thought-out strategy.

If you’re looking to start or grow your business, Start-Up Loans offers government-backed loans of up to £25,000 and a year’s free mentoring to help you on your way.