Starting an online store selling the best selling products online is much more easier than what most people seem to realize, if you know how to do it in a step-by-step format.
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But before you start your online business and create your company name you need to first determine which products you’re going to sell online.
This way you can give your company a name which may be related to your product line(s) and a name that tells your customers exactly what it is that you are offering on your estore.
The following product lines are the best selling products online according to the NRF/Forrester Online Retail Index, The NPD Group, The Media Metrix Online Shopping Index and other statistics providers.
Top selling products in order are:
1-Books
2-Computer Hardware and Software
3-Apparel
4-Toys
5-Video Games
6-Video Game Systems
7-Videos
8-DVD’s
9-Health and Beauty products
10-Consumer Electronics
11-Music
12-Jewelry
13-Office Supplies
14-Linens
15-Home Décor
16-Flowers
17-Sporting Goods
18-Footwear
19-Appliances
20-Tools and Garden
21-Gifts.
Then try to pick a niche product within a niche product line.
For example; Instead of selling all types of books, which is the number one selling product on the Internet, you would specialize in selling a certain category of books such as the best web design books.
Another example would be computer products. Instead of building an online super-store selling all types of computer products you would focus on a niche hot market such as digital cameras.
Lets break these steps down a little further:
1.Create your company name.
Do not make the common mistake of creating a business name too quickly and without thought. This is an important decision that takes careful consideration. You'll want to select a name that should reflect the main product line or service of your new online store.
Do not use your own name in your business name. Make your name descriptive so that it advertises your products, or at least relates to your products or services.
2.Register your name.
3.Form your business structure; Sole Proprietorship.
Next, move is to check on the names' availability. Contact the name search department within the Department Of Corporations for your state.
Next, select a type of legal structure for your business. There are basically three types of business structures: Sole Proprietorship, Corporation and Partnership. Sole Proprietorship being the easiest and quickest to form. Complete explanation of all of these terms can be found at [http://www.estorefronguide.com]
4.Obtain your business/occupational license.
(Only if needed in your county) Business licenses are generally issued through the city and/or county clerks office where you will need to fill out and submit an application.
5.Obtaining your resellers license (sales tax license).
Now you'll head on over to your local State Revenue Department (IRS) to apply for your tax license, which is also known as your resellers license or dealers license.
This tax license, (resellers license), gives you the privilege to buy at wholesale from genuine wholesale distributors and sell at retail to the public. You will also have the responsibility of collecting sales tax from consumers for sales
made within your home state.
6.Choose a top-selling, niche-product market.
Choose a product line from the list above and possibly dive deeper to find your niche market. When choosing your niche market, ask yourself if there is a certain type of product that you may already be educated in or a product line that you find interesting to learn about.
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