Open your online shop on Solstreet
At Solstreet, we are building a community of local artists and makers from different cities. Our mantra is to Support Local. The web-based marketplace will feature curated independent local brands from different cities and let people discover them through our geo-location feature. This feature will let users (buyers) discover local products and shop directly from our website. Solstreet is in beta stage. We will be launching our platform for the holiday season in New York.
Marketplace model: We are going to use Drop-ship model for our business. It’s the most used business model for e-commerce marketplaces. The process works by taking orders from our website and forwarding them to our sellers. Sellers then ship the product to our customers on behalf of our company. At this stage, we’ll be directly working with our sellers for order fulfillment's.
Business model for the beta stage: Flat 5% sales commission on each product sold from our website.
Operations: Each seller’s online shop listing will be managed by our team. Sellers will only have to provide information to us. We are going to have around 30 local brands from New York for the holiday season. All the shops will be geo-targeted for buyers from New York. Which means only buyers and sellers from New York will be able to see and buy from our website. (Note: Buyers from other states in the US will only be able to view the shops, they won’t be able to buy)
How will the backend work: We’ll manually handle orders for the beta test. But, when we launch phase one of our website, everything will be automated. Shops and products with their images and pricing will be listed in advance by Solstreet’s team and sent to the seller for approval before the launch. Seller’s won’t have any backend control during the test.
Inventory management: At this stage, inventory management will be done manually. Sellers can give us their inventory in advance. For example, seller can let us know if he/she would like to hold 5 units per product for our beta test. As and when the demand goes up, we can manually make changes to the inventory.
Payment processing: A buyer will be able to buy & pay for products on our website. Payments will be processed by Stripe, a secure payment service provider. You can read about them her www.stripe.com.
Vendor payments: Vendor payments will be processed bi-weekly. Vendors need to sign up on Stripe.com, our payment gateway and create a free account. We'll process payments from there after deducting the sales commission from each product sale. All the instructions regarding Stipe Dashboard will be e-mailed separately to the sellers.
● Order fulfillment: Sellers will be shipping products once the order has been processed through Solstreet. As soon as Solstreet receives any order, email confirmation will be sent to the seller within 3 hours of receiving the order. Sellers can then process the order and ship the products. An estimated delivery time can be communicated in advance by the sellers.
● Product pricing: We’d prefer to not display shipping cost to the customer. Hence, we would like sellers to add shipping rate to the product price and give us one final price for each item. For example, If you are selling a candle at $20 and shipping cost is $6 then the product cost that will appear on our website will be $26. (Note: We are only processing orders for New York at this stage, this will make it easier for you to get shipping rates easily) Additionally, If the seller deals with free shipping on X number of orders, then let us know in advance, we’ll add that information on your page.
Promotion & Marketing:
Content Marketing ( Digital channels )
Influencer campaigns ( Digital channels )
Solstreet pop-up markets ( Offline channel )
Beta test timeline for the holiday season: The website will go live by mid November.
Product Categories for the beta stage: Handmade Jewelry, Sustainable Fashion, Home Decor, Illustrations & Holiday gifts
For further details, e-mail Neha at firstname.lastname@example.org