Steve Wylde
New Contributor
- Joined
- Oct 17, 2012
- Messages
- 16
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$195
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User Power: 81%
I have chosen eCommerce as my business path. I've been interested in eCommerce for years and have finally decided to get off my a$$ and take action. To any newbs who are wondering how to get started on this road, I've found extremely valuable information from Biophase's posts as well as Worldwide Brand's free resources, the free beginner's guide to SEO at seomoz.org, the free ecommerce guide offered at ecommercefuel.com, and The Millionaire Fastlane (obviously).
At this point I have formed an LLC, got an EIN (required in Arkansas to set up a bank account), set up web hosting, installed Opencart for my storefront, and narrowed my potential niches down to 3.
Since I don't have a bricks and mortar store I decided to set my LLC up in Wyoming. Apparently Wyoming is the most business friendly state to set up an eBiz. It has low tax rates, set up fees, and just generally seems to be the best choice by far for what I'm doing.
When setting up an out of state business entity you have to obtain a Registered Agent in that state who can accept Legal Process for you in case you are ever sued. I found a registered agent who offered their first year for free and I also had them file the LLC paperwork (simple). The Articles of Organization filing fee for Wyoming is $100 and the registered agent company charged around $35 to file the papers, though you can do this yourself if you want for free. You need to search the secretary of state's registered business listing to make sure your business name isn't already registered by someone else.
Obtaining an EIN only takes a few minutes on the IRS site.
For webhosting I chose Hostgator and I have been pleased with their customer service. I chose Opencart for my storefront.
Next I need to obtain a storefront template for Opencart, talk to suppliers in the different niches I'm considering and narrow that niche down to one, research merchant account providers, set up a bank account, and get this damn thing going. Cheers
At this point I have formed an LLC, got an EIN (required in Arkansas to set up a bank account), set up web hosting, installed Opencart for my storefront, and narrowed my potential niches down to 3.
Since I don't have a bricks and mortar store I decided to set my LLC up in Wyoming. Apparently Wyoming is the most business friendly state to set up an eBiz. It has low tax rates, set up fees, and just generally seems to be the best choice by far for what I'm doing.
When setting up an out of state business entity you have to obtain a Registered Agent in that state who can accept Legal Process for you in case you are ever sued. I found a registered agent who offered their first year for free and I also had them file the LLC paperwork (simple). The Articles of Organization filing fee for Wyoming is $100 and the registered agent company charged around $35 to file the papers, though you can do this yourself if you want for free. You need to search the secretary of state's registered business listing to make sure your business name isn't already registered by someone else.
Obtaining an EIN only takes a few minutes on the IRS site.
For webhosting I chose Hostgator and I have been pleased with their customer service. I chose Opencart for my storefront.
Next I need to obtain a storefront template for Opencart, talk to suppliers in the different niches I'm considering and narrow that niche down to one, research merchant account providers, set up a bank account, and get this damn thing going. Cheers
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