More and more people are looking for gig-style work online, which is giving rise to a new type of website. Marketplace websites connect vendors and customers looking to conduct business together, and the websites collect a commission for doing so. One-quarter of Americans participated in this type of work in 2015, and that number is only trending upwards. Thus, there’s plenty of opportunity for new marketplace websites.
These websites may be service- or product-based. What differentiates marketplace websites from ecommerce sites isn’t what is being sold, but who is doing the selling. Whereas ecommerce sites sell directly to customers, marketplaces connect vendors, who are selling goods or services, with customers.
Start a marketplace website business by following these 10 steps:
Plan your Marketplace Website Business
Form your Marketplace Website Business into a Legal Entity
Register your Marketplace Website Business for Taxes
Open a Business Bank Account & Credit Card
Set up Accounting for your Marketplace Website Business
Get the Necessary Permits & Licenses for your Marketplace Website Business
Get Marketplace Website Business Insurance
Define your Marketplace Website Business Brand
Create your Marketplace Website Business Website
Set up your Business Phone System
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your marketplace website business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.