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Starting an online business
jasonlester
Registered User regular
Registered User regular
I am seriously considering starting a small online business, not purely for profit but for fun and to see where it could lead. I have a bit of money I am willing to let go if worse comes to worse and would like to test the waters so to speak. This is quite a general question, but any tips on starting a small online business? I am doing market research to gauge demand and already have generated word of mouth among our target market. This is a joint venture between me and a few other people.
I am more interested in the business side of it (being a business student) and the other people are graphic designers and other business students. Some of the products being sold are packaged food and drink. In terms of an online store, what kind of license would I need to sell something like that domestically? I have an office to work out of so that isn't an issue. This project is purely an on the side venture. I live in Sydney, Australia by the way.
Has anyone here done this kind of thing before? Is it worth going for?
Also, having done a physical survey, any sites you can recommend for online surveys? Is it also necessary to register as a business even if it this small?
I also took a look at eBay stores, which seemed like a good option too. However, if I am selling things that are only worth a few dollars, and ebay takes 3 cents per listing, as well as 12% final value, and a 16 dollar a month subscription, then paypal takes a fee, I'd probably end up losing money.
I am more interested in the business side of it (being a business student) and the other people are graphic designers and other business students. Some of the products being sold are packaged food and drink. In terms of an online store, what kind of license would I need to sell something like that domestically? I have an office to work out of so that isn't an issue. This project is purely an on the side venture. I live in Sydney, Australia by the way.
Has anyone here done this kind of thing before? Is it worth going for?
Also, having done a physical survey, any sites you can recommend for online surveys? Is it also necessary to register as a business even if it this small?
I also took a look at eBay stores, which seemed like a good option too. However, if I am selling things that are only worth a few dollars, and ebay takes 3 cents per listing, as well as 12% final value, and a 16 dollar a month subscription, then paypal takes a fee, I'd probably end up losing money.
jasonlester on
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How you set up your business affects things also. You can open up a sole proprietorship with just your SSN. I opted to open up an LLC and get a seperate federal tax id number, since my credit kind of sucks. It was more expensive to set up, but it will be far easier to do business, and my personal property is protected should something go horribly awry and my business was to get sued.
Just do some research, just about everything can be done online. Start at the city or county level and work your way up from there.