Join Date: Jul 2010
Location: Outside Philadelphia, PA
My question to you would be, how are you going to compete with the large online stores if you carry standard products? Personally I don't think it's possible unless you have a massive amount of capital to invest in the business. The small business just can't buy or sell in enough volume to get the good deals on shipping and quantity discounts the large companies can.
I'd say that to have any chance at all, you'd have to sell products that specialized to people that knew what they were getting involved in. In my opinion, you'd have to offer products that the others just can get.
You'd also have to set up business bank accounts, and set up methods to take credit cards. Personally, if a company will not take my credit card directly, it automatic disqualification. No PayPal or similar stuff. I'm also a sceptic about stuff sold on Ebay, but that's more me.
Another nice thing, you'll also get to pay all those local business taxes.
Like someone said, if your in business for yourself, you can set your own hours, and work any 80 hours a week you want. (grin)
I'm not saying don't go into business, but I am saying go in with your eyes open. More than a few have lost a lot going into a business and not really understanding how things work.