Does anyone know if an online shop is a good idea ? does it work the same as a normal shop in terms of money?

Question

Does anyone know if an online shop is a good idea ? does it work the same as a normal shop in terms of money?

Answer 1

A good idea to start out is to open an ebay 'store'...that way you can build your reputation. Then when you have a good rep you can start your own if you like.

Answer 2

an online shop is a very good idea because it will mean that you can reduce your costs by not having to buy or rent a building, but there are also some risks. if it is a new business it can be hard to gain the trust of potential customers because people will want to use a business that they know. a lot of people do not like to send their personal information over the internet because they fear that it will be misused. make sure that the design of the website looks very professional because people will trust you more if the design is good. also make sure you get a digital certificate such as versign or thawte.

Answer 3

Yes, pretty much, but you have less overheads. Its very competetive though, you need to make a big impression.

Answer 4

It would be best to ensure you comply with the legalities or risk the shop being taken down.

If you make a habit of selling or buy/make items specifically to sell then you are in trade or bsuiness.  

1    You are supposed to register as self employed with the tax-man or risk a fine and a big bill.

2     You need to give the business owner's name and a geographical address on the website (Electronic Commerce Regs)

3       You need to give buyers the opportunity to return goods within 7 days of receipt (30 days if you do not mention this on your website) and refund all payments including P&P (Distance Selling Regs)

Also if you want to get and maintain a good rep you should make sure you can supply all the items you advertise (shades of the Hoover debacle).

There are several websites that provide information, some listed below