All you need to know to kick-start E-Commerce Business in India

All you need to know to kick-start E-Commerce Business in India

This is a magnificent time for all those who dare to dream, to reckon the opportunities and make the most of this online business escalation. With the sprawling internet and smartphone awareness stretching beyond cities and towns and going far-fetched places like small villages – time can never be better to go in for E Commerce business. It becomes all the more evident as last five years provide us the data that points to the fact that Indian retail scenario is changing big time. We have witnessed many e commerce businesses having sky rocketed successes in less than 5 years. And the best part is – it’s not that tough!! All you need to do is follow the following steps and climb up the way to glory:

  1. Think of a name for your Business: William Shakespeare said “What’s in a name?” these days however it has become “The Namesake”. It is very important to have a good name for your business. This name should be short, eye catchy, easily spelt, easily pronounced and most importantly should resonate with the audience you wish to cater to.
  2. Create a Website: Now you need to get a web store made. You can take the help of a web designing and software making company like ACS. This company is well versed in making e commerce websites and hence it can suggest various ways and means to improve the content, placement, look and feel and SEO. It also has connects with payment gateways and shipping portals.
  3. Legal Work: There are certain legal formalities that you ought to do before you can go any further:
  • Company Registration: You need to get your company registered. This will let you have your own company bank account that you will need as the foremost thing when rolling out. Your company can be registered as a Proprietorship Firm, Partnership Firm or a Pvt. Ltd. Firm.
  • VAT Registration: This registration is mandatory for anyone selling goods or products in India. This can be obtained from the State Sales Tax Department.
  • Bank Account: This is essential to register on a marketplace or obtain a payment gateway.
  • Legal Documents: Apart from ID proof and address proof, you should be ready with terms and conditions, disclaimers and privacy policy to shield the business and its promoters.
  1. Payment Gateway: This is a very important service required for an ecommerce website. You need to integrate with a payment gateway like Paypal, PayU, PayUmoney, ccavenue, etc. These gateways take care of your financial transactions like credit card, debit card, net banking and internet banking. If you own an independent web store you need to get your web store integrated with a payment gateway. If you work in collaboration with a marketplace, the marketplace will have a payment gateway. Some payment gateways have setup fees with low transaction rates per transaction like ccavenue, payu,etc. Others have no set up fees with high transaction rate per transaction like Paypal, PayUmoney, etc.
  2. Logistics: While the E Retailers have a world of opportunities, the catch is timed delivery. You can either have an in-house logistic system or turn to third party sytems like MyOSD to take care of your orders, inventory, shipping and returns.
  3. Marketplaces: You have a choice – either you can have your own web store and market all your products from your own portal. Or you can invest in existing marketplaces like Amazon, Flipkart, Snapdeal, Shopclues, etc. By doing so you will own a store on existing E Commerce portals and you can do business from there.
  4. Marketing: Last but not the least, you will have to do extensive marketing of your product through social media like facebook display, google display, etc. You can also use search engine optimization.

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