It’s much easier these days to set up your own business and market it. Whether you’re manufacturing your own products or reselling another business’ goods, there’s a way to make it happen online.
Manufacturing Your Own Products
This would cost more, but the returns are better. Your capital should support not only the store, but the manufacturing process. Manufacturing your own products may involve the use of machinery, which you can either buy or rent. You may need to bring in the services of another company. For example, a reliability testing of your products.
You need a manufacturing floor, as well. The size and expense of which will depend on the size of your products, the work involved, the machinery or tools, and a place for storage of materials and your finished products.
Selling for Others
Becoming a reseller is more straightforward. You may not even need a space for storage since all you have to do is direct orders to your source and they can handle even the shipment. For some resellers, however, having storage space for keeping products — which may be available for consignment or which the reseller may have purchased — is important. As with manufacturing your own, having products for reselling means protecting them while they are with you.
Being a reseller may also mean shipping the items yourself. For this, you need to deal with courier services or have a vehicle for delivering the items yourself.
With both types of businesses, you’ll still need to apply for the required business permits in your city. You may also need insurance. The requirements also become more complicated when you need employees and customer service. Employees will need insurance and salaries, plus other benefits. They also need space for working. Customer service teams have the same needs plus a more complicated infrastructure for answering customer concerns. It makes sense to talk to a lawyer so you’re legally covered with every move.