From a huge e-commerce retailer to a simple online shop just starting out, all retail websites share the same primary building blocks no matter how large or small they are. Before you officially open your retail site for business, here are the tools you need first to be ready for online sales.
1. Similar to choosing a name for a regular retail store, you need to select a domain name. Just like your business name, a domain name refers to how customers will identify your website (e.g. www.HancockToys.com). Domain names must be registered with a domain name registrar, such as GoDaddy.com.
2. In combination with a domain name, you’ll need web hosting for your site. Web hosting essentially provides a home for your website and stores it on a server where any user typing your domain name will find it. If you’re an internet novice or have very little technical expertise, you may want to consider purchasing a web hosting package including more customer service and implementation help. Most web hosting services charge a monthly rate and some may charge fees based on a percentage of your sales or a flat percentage per sale.
3. Employ a website designer or a site design company that can create and maintain your website according to your standards. This option tends to be more costly than opting for a complete site package, however, your website will be completely unique and you’ll be able to customize it and encompass all the features you want.
4. In order to accept online payments through credit cards, you will need to obtain a merchant account. Most small business owners (with evidence that they are a registered business, such as a business license) can obtain a merchant account with their local bank. You may also be able to get a merchant account through a web hosting package.
5. After you have a merchant account lined up, you will also need a payment gateway. This refers to the system that automates transactions between you and the customer. Through secure encryption, the payment gateway will automatically process, verify and accept or decline each credit card payments on your behalf.
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