Any new company setting up an internet trading site nowadays faces very different procedures and risks than they would have ten or even five years ago. From setting up a merchant account and getting the finances in place to online marketing practices and online company reputation management; there are several aspects that those setting up in business have to seriously consider.
Setting up the financial side is reasonably straightforward, however, careful planning is needed. If you are doing it as a hobby alongside your regular job it is easier as you are not relying on the income from day one. However, whatever your circumstances you need to put together a comprehensive business plan, especially if financing is needed.
If financing is likely to be an issue, you may want to consider drop shipping. Basically, you market the product and process the administration but the item is shipped directly from the supplier which means that you do not have to keep costly stock.
Also on the finance side you need to ensure that your business banking is in place, as well as Pay Pal if needed. You will also need the services of an accountant and tax advisor. If exporting it is important to research any VAT or customs liabilities.
This type of site can be very lucrative but you have to research thoroughly to ensure that all goes according to plan.