I used to work for a big online seller who also got a very famous brick and mortar store; they makes about 1.5 Million usd per year. Most of us can't compare ourselves with this scenario, unless we do have a physical store. Most of us here are to find out products from somebody else.
Bottom line is if we do have a physical store, we can make our chances better if we have a better designed, planned online store, proper inventory.
I don't have knowledge on inventory, but from my little experience I can suggest these:
- Canceled orders because of the out-of-stock is a big problem. This may ruin the reputation very fast.
- Good customer service is very important.
- Buying price is the key to determine profit.
I am making my own web store now. Really hoping to learn about product sourcings from the experienced folks here. After all we don't wanna reinvent the wheel.