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How e-com business works?

Posted on 2013-01-20
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Last Modified: 2013-11-19
hi!!
I am planing to build a website where people can sell their products, i just have basic idea that consumer pays money and via online transfer money credits to seller account, want to know about payment charges , it will be great if if u can provide full information about it


thnx,
sanket pathak
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Question by:saku5in
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5 Comments
 
LVL 53

Expert Comment

by:COBOLdinosaur
ID: 38798689
Question is about as broad as the universe and as specif as the shape of a cloud.

I can start by telling you that unless you have a skillset encompassing both busines, contract law and development/programming; you will need to hire professionals for help.

If you provide some detail about what you are doing and the resources available, we might be able to offer some advice, but you are not going to get anything like a complete solution to something this complex.

Cd&
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Author Comment

by:saku5in
ID: 38798726
well i want to start a website which is related to order food online,
i want to include many fastfood owners who can join there and provide home-delivery
where i can take few percent commision and rest goes to owners account
can u let me know which type of  payment methods are available for these type of business and charges which need to pay to banks and how can we save it?

thnx
sanket pathak
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LVL 53

Accepted Solution

by:
COBOLdinosaur earned 1000 total points
ID: 38799451
Well based on what you are saying, you need to hire a designer for the web site; a developer  with experience in secure financial transaction; a lawyer to develop the contract you will need to have with the restaurant operators; and if you do not already have contacts in the restaurant industry you will probably need a marketing professional.

As to the financial side of it you can use payment portals like paypal, merchant accounts, and credit cards.  However all of those have setup requirements and transaction fees that are dependent on the institutions involved, and the geographic location of the business.  You also have to consider regulations and tax requirements for the jurisdiction where you will be operating.

On the technical side you need to have either your own server capacity, or a hosted site which will need to have enough bandwidth and storage to handle the traffic you expect.

Cd&
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LVL 12

Assisted Solution

by:profgeek
profgeek earned 1000 total points
ID: 38801061
You could start small with a turnkey, setup and then grow from there.  Most of these, however, aren't robust enough to scale very well.  They are designed more for a single shop, not a broker.  For example:

https://www.1and1.com/ecommerce-website?__lf=Static&linkOrigin=&linkId=ct.tab.ecommerce&stage=eshop

If I understand what you are describing, I think COBOLdinosaur's comments are spot-on.  It will be a somewhat expensive enterprise to get going, with no certainty that it will even work or provide any return on your investment.
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LVL 53

Expert Comment

by:COBOLdinosaur
ID: 38802381
Yeah well profitability on the Internet is pretty much an illusion. Less than 6% of internet sites ever generate enough revenue to cover costs and produce a profit in the first 5 years.  80% don't even stay active that long.

Cd&
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