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Thread: what are the requirements for setting an online business

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    Smile what are the requirements for setting an online business

    hi
    I am new here and i am a graphic designer.I am planning to open an online robot shop for some money.I want to know what are the requirements for setting an online business.
    Like sales tax wtc.

    Thank you

  2. #2
    Administrator T-1000 vikas's Avatar
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    A TIN is required if you wish to sell India wide.
    But you will see most online shops do not follow any rules.

    If you do not have an idea about what you are selling i would recommend not getting into this business as its highly technical. And Students ask for a lot of support and Bad WoM travels fast.

    If you do anyway , Just use magento or any free open source free shop script , tie up with a payment processor fill in your shop with inventory and the go around promoting ... its not as simple as it sound though .
    Vikas Patial

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    Quote Originally Posted by dsjoshi View Post
    hi
    I am new here and i am a graphic designer.I am planning to open an online robot shop for some money.I want to know what are the requirements for setting an online business.
    Like sales tax wtc.

    Thank you
    You know Jack Welch decided that GE should get out those businesses in which it wasn't world number 1 or 2. Similarly, in online businesses, you really can't succeed if you aren't top 1 or 2 or maybe 3.

    Its already a crowded market in India for online robotics. You should have rock bottom prices, or some special value addition, and huge range. Your customers are going to be students and novices, so they'll buy components from you but expect the whole solution. I mean, unless you have investments lined up, don't get into this business.

    I'd love it though if somebody can come up with online retailers selling everything electronics under the sun, like www.dealextreme.com

    That said, whatever you decide, good luck!
    --
    Mohit Mahajan,
    www.BioZen.co.in

  4. #4

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    dont invest unless you afford to loose,As mohit said that were correct.students your clients then the business is worse.I already losted money around 20k towards a sprocket die because the drawing was false.
    I suggest to you zen cart which is best and if you are looking a forum then vbulletin which is more powerful and for seo too or mybb which is free.

  5. #5

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    Quote Originally Posted by MohitM View Post
    I'd love it though if somebody can come up with online retailers selling everything electronics under the sun
    I couldn't agree more. I've been in electronics for a very long time, but I live in a remote location and obtaining the materials I need has always been extremely frustrating.

    I buy most of my requirements when I visit one of the major cities. I've prowled around Lamington Road and its bylanes in Mumbai, Lajpat Rai Market in Delhi, Chandni Chowk in Kolkata and Richie St. in Chennai. But it's impossible to anticipate all the things I'll need until my next visit.

    I see advertisements in magazines and websites offering electronic parts. But it's very difficult to deal with those companies from a distance.

    More recently, I've found online shops offering robotics materials, some of them through RI forum. They seem to be an improvement over the general electronics shops in the way they do business and this is very welcome, but the range of products they offer are limited to those used in robotics.

    It will be a great day when someone opens an online shop offering a wide range of electronic parts, but only if their prices are reasonable and provide fast no-nonsense service and prompt communications.

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    Junior Member User mcufreak's Avatar
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    Service and support is the most important thing in India. target clients(Students) do not have a online shopping experience and also they do not have a credit card or something. Students hardly assisted for These 'Hobby' or 'Tech-fest' stuff by the teachers in most of the colleges so a lot of technical support is expected.

    As MohitM said its already crowded market in India. But as a customer I feel there is a lot of scope for a 'complete' electronics online store with 1) Huge range 2) Reasonable(probably lowest) price and 3) Excellent support both commercial and technical.

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    What vikas have written is making sense these are the things that you need when we talk about going for an online business,In this era its quite supportive i mean people are into it which is actually setting the trends on to another level the way it should be.And in the coming few years online shopping will be on the preference for sure.

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