Online selling has been creating a buzz over the years. There is growing a frenzy among companies of all sizes and nature to jump the bandwagon to mint money. Though companies sell products and services through physical stores, selling online helps target a wider market. eCommerce biggies with the likes of Flipkart, Amazon, and more provide the best online marketplace for sellers in India. But how to transcend the boundary to the virtual marketplace?
Here are some easy steps to start an online selling business:
Step 1: Register your business
The first and foremost step is to register your business for online selling. There are multiple ways for business registration:
- Sole Proprietorship: It’s the simplest form of business registration for selling online if you are doing it yourself. All you need is a PAN card to open a bank account for the business.
- Partnership: If you are doing business with at least one more individual, than partnership deed is to be submitted for opening the business bank account.
- Limited Liability partnership (LLP): It’s a new form of general partnership in which each of the individual partners owns legal protection against personal liability for some liabilities. So the LLP is a legal partnership.
- Private limited company: It’s a separate business partnership with its distinct identity stamped with a PAN card, TIN (VAT) number and mandatory Service Tax registration.
Step 2: Register your brand
Registering a brand is a must for companies lest anyone can steal your product name and identity. Follow some easy steps to register your brand:
- Search and label a suitable and unique name to your product.
- Apply for trademark registration: Fill out the form, manually or online, and attach all the mandatory documents: Business registration copy and brand logo image.
You can use the TM (Trade Mark) on the top-right side of the brand name till the verification process is not over. After the stipulated time, your brand will be registered and you can update the registered trademark (R) in the name of your branded product.
Step 3: Register as a seller
Register as a seller on Amazon or Flipkart used to be a dream, but it has been made easy now. With complete documentation, register yourself as a seller before you get into the real business. Give your personal details with official documentation for completing the seller registration mentioned below:
Contact phone No and official email address
Essential documents: PAN card number, TAN, TIN/VAT, and Bank A/c number & NEFT/IFSC details.
Step 4: Prepare Product & Listing
Once all the formalities are completed, you can list as many products as possible products. Under the selected product category, fill out all the product details such as size, color, model etc. Fix up suitable selling price to match the market competition and of course, the product and delivery cost incurred. You can also get professional help for cataloguing from any of the eCommerce cataloguing services.
Step 5: Stock up & Start Selling
Stock up the initial inventory of the products before you start selling. Professional eCommerce catalogue management services can help you design the most suitable product listings to increase product visibility and hence boost sales. Here are some easy tips for effective customer service:
- Select the best durable packaging material to avoid any damage to the ordered products en route.
- Dispatch or ship the products on time; any unforeseen delay must be updated to the consumers.
- Safe and timely product delivery gives a positive impression about the company.