A Guide to Working from Home: Online Dollar
Stores
The home computing revolution
and the advent of the Internet has made the dream of “Working from Home”
a very real and lucrative possibility for millions of Americans. And
this does not only apply to those who have found they can now
"Telecommute" in their chosen professions. Many have been bitten by the
next wave of entrepreneurial spirit that is sweeping the nation, and are
actually leaving their jobs to start their own home based businesses.
But choosing the right home based business can be a challenge.
Walk around any neighborhood in
the country these days and in just about every strip mall you will not
only find a “Starbucks” or Dunkin Donuts, but most likely a Dollar
Store. Dollar Stores have been one of the fastest growing franchise
businesses in the country, and now you don’t even have to buy a store to
own one, you can have your own and Operate an Online Dollar Store
right from your home.
AT A GLANCE
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Expected Hourly
Income |
2500.00 to 5000.00 month
potential |
|
Start-Up Costs
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High, Moderate,
Low |
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Start Up Degree of
Difficulty |
Easy,
Moderate, Difficult, Very Difficult |
|
Potential Problems |
Fraudulent Wholesalers |
Getting Started
Starting your Own Online Dollar
Store is very similar to using a Wholesale Drop & Ship supplier though a
sales channel like eBay Auctions. However instead of using eBay – you
will have your own independent e-commerce site - a virtual dollar store,
where people can log on and purchase product. You never have to have or
purchase any inventory. The orders will be drop shipped from the
supplier, and you collect the commissions - it’s that simple. Depending
on who you connect with as your supplier and “parent “Dollar Store”
company you still may be in apposition to leverage eBay’s infrastructure
as an additional sales channel, either through auctions or as a “buy it
now” eBay Store. As an Online Dollar Store Owner you will have a retail
business and as such you may not need to incorporate but at the very
least you should
- Open a private mailbox at a
local “mail store” or post office and use that instead of your home
address as your business address.
-
Register your business name or DBA with your town clerk or county
clerk's office.
- Obtain
a federal tax ID number for your business from www.irs.gov--don't
use your Social Security number.
Start-up costs
Depending on how you choose to
set up your online dollar store - start up cost vary. But to get
started the way we have described you could expect to lay out a few
hundred dollars in start up costs. This should cover the name searches,
registrations, licenses, and incorporation fees if you choose that
route, and the cost of a mail drop address and box, and a good “how to
get started” program or your own website and web hosting. Of course you
should have a computer with a high-speed Internet connection and a
website. While the total start up costs for a and Online Dollar Store
may be a little higher then some other internet businesses – they are
still significantly less then opening an actual Dollar Store Franchise.
Although you can find more information about actual dollar stores if you
are so interested at:
http://www.ownadollarstore.com/
Hours and Income
Starting a home-based Online
Dollar Store is much like starting a retail business. Expect to put in
full-time hours, and expect to reap fulltime rewards. Following the
suggestions made here and at the links provided, you can build a primary
income stream using legitimate wholesale dollar store suppliers that can
result in six figure or greater profits.
Potential Problems
The greatest pitfalls with
opening an online dollar store are signing up for “free” site hosting
services that turn out not be free with hidden charges down the line,
and finding legitamate Wholesale Dropshippers for your products. Do not
try to defraud the state in terms of Taxes. Any profits you make from
commissioned sales form an Online Dollar Store must be reported as
income.
Other Resources
See an example of an On-line
Dollar Store and How to Start Your Own
www.mydollarshop.com
Conclusion
Online dollar Stores are an up and coming way of starting an e-commerce
businees. As such there are legitimate suppliers and scammers. Find a
legitimate one like those listed here, and you can make some decent
money without having to outlay a lot of cash.
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