This business is very similar to eBay in the sense that it’s a monster-sized marketplace but more similar to a store in the true sense of the word. Think having your own retail outlet but without the hassles of rent, employees, utilities and all the other expenses of a traditional brick-and-mortar store.
The neat thing is that it can be as hands-on or as hands-off as you want it to be because of companies called drop-shippers, which can do most of the work for you. In fact, you don’t even pay for the inventory until you make a sale. How cool is that?
Most people think the hard part of this business is creating your virtual store, but nothing could be further from the truth. Yahoo! has made the templates and wizards so easy that, dare I say, even a caveman can do it!
The best way to ensure your success is to do your homework and research what products people most want to buy. You need to find a niche. Once again, start with things you enjoy. Let’s say you love fishing. What products do fishing folks want to buy most? (Or get even more specific, like, what are bass fishermen looking to buy?)
Then the task is to find the right source of those products so you can carry them in your Yahoo! Store. In most cases, you’ll be able to pull pictures and product descriptions directly from your sources and plug them right into your store.