According to the report in 2018, there are more than 206 million people who spend their money on online shopping this year, if you think about starting an eCommerce Store, time is not gone. To start an e-Commerce Store and to sell the product online, you should check out the list to do before start Store.
1. Start with Decide your Store name
After deciding what you want to sale, you have to select the memorable, fabulous store name that no one is using. You have to search then choose the corporate name. After the name has been chosen, you can register your store as Private Limited Company Registration, LLP, etc. You have to follow the legal process.
2. Protect Your Website and Domain Name
After deciding your store name then you have to decide your domain name, if the domain name is not available, select the URL which is easy to pronounce and related to the Store.
For example, if your store is related to craft creation and store name is Taruna craft creation then Domain will be Tarunacraftcreation.com. If it is not available you can select a similar domain like craftcreationtaruna.com. Selecting a unique domain name is one of the expensive things in eCommerce.
3. Decide the Type of Business Structure and Register your Store
There are varieties of registering options like-
- A) Partnership
- B) Sole Proprietor
- C) Corporate
- D) LLP
If you will not select the Business structure like LLC and corporate then you will automatically consider as a Sole proprietor by Government. Operating as a sole proprietor, your personal assets at your personal risk and if the company is ever sued then the court can collect your assets.
Both LLC and corporation separate you, provide other benefits, and your assets from the business. If both corporation and LLC Separate you and your assets from the business and provide other tax benefits.
4. Apply for Permits and Business Licenses
Operating an Ecommerce Store cannot be implemented with some Licenses and permits. It differs from state to state and country to country check sorts of home business licenses and sales tax licenses you need and get approved before start store. According to your store, you have to take permit from the Fire department or any other as per applicable rules and regulations.
5. Search the Right Vendors
In this competitive era you will find lots of competitors selling products online, so according to your interest find out the best quality and best prices for your products you sell or materials you use to create your product. Find the vendor that you want to do business for a long time.
6. Get more familiar with Right Software
We can work with the help of technology as it is more easy and as well as save the time and efforts. So, before starting an eCommerce business, play around with accounting, customer relationship management, project management, email marketing, and other software which helpful for your eCommerce store. Once you launch, then you can integrate into what you are doing.
7. Stock Your Inventory
Whether you have lots of products in your warehouse somewhere or you store your inventory in your garage be sure you have got enough at a day of launch. It will difficult to decide how much it requires. To have many inventories is not enough. Focus on how you can increase your sale. You can focus on future and smart orders.
8. Your Employer Identification Number
For open a business bank account and file your business tax every year will need an Employer Identification Number (EIN). ENI is a Business social security number, and it is a unique number which helps you file important paperwork and identifies your business. Every business requires whether you will have employees or not.
I hope this article is valuable to you. By this article, you can understand how you can start your eCommerce store like Store name, Registration, Inventories, EIN, and Software.
Afleo is a leading website which helps startups to commence their business by legal advice and service provider like GST registration, PVT LTD registration, one person company or for the information you can visit our website Afleo.com or contact us.
The post 8 Essential Things To Know for Starting E-Commerce Store appeared first on Gud Story.