Starting an online business is an easy way to make some extra money or to start your own retail empire. With the ubiquity of the internet, many neophytes have a lot more choice now than just five years ago.
Finding Things to Sell
After you've researched hat you want to start retailing, it's time to find those wholesalers that will help you make a profit. For those looking for larger quantities and can afford them, finding a manufacturer or distributor would offer the best price break. Of course, you would need to order large quantities of the item and keep and inventory but at least you'd have the item in hand and ready. Yard sales are also a great way to find items. You can easily negotiate and get items for pennies that are worth dollars. You just have to get up early on weekends to get the good stuff.
Where to Sell
For anyone who wants to start an online business, eBay is the first choice for primary and secondary market sales. Signing up is free and you only pay to list certain items as well as when they are sold. You have the option of creating an eBay store if you have the volume but that can wait until you have sufficient momentum and reputation. You can also become an Amazon seller where you post the item for a fixed price and customers find you. You can even create your own site with a shopping cart and payment processor. You would need to purchase the URL, find a good host that will support your ecommerce site, create the site and then market it. This is the long way around but over time, it pays to have your own store.
To Be or Not to Be Legit
To create a company from your online business has significant tax implications. For some, it may be premature to create an LLC or Corp because having a business with that structure means fulfilling complying with certain legal requirements regularly, without fail. For those who are looking to work with manufacturers or wholesalers, it may be necessary because some wholesalers will only work with corporations. Before deciding, do your research to find out if it's necessary, what are the requirements, benefits and risks involved.
Get a Blog
According to research conducted by HubSpot, an online inbound marketing company, 40 percent of blog and 92 percent of companies that blogged multiple times a day got customers through their blogs. Not everyone can do multiple blogs per day but the idea that companies that blog get customers at a higher rate is incentive to pursue this type of content marketing. Blogs help customers to form a bond with a company and makes them more likely to buy a product or service. It also establishes the bloggers reputation as an expert, which adds to the likelihood that customers will want to buy.
When creating an ecommerce business, you have options. You can choose to carry your own inventory or delay that step by working with some companies who will do the heavy lifting for you. All you need to do is just choose and go for it.