Step 1: Write a list of things you can sell online
If you want people to buy from your website, you need to offer them something to purchase! One way to know what kind of items will be popular is by taking a look at Amazon's best sellers list or checking out what's trending on Alibaba. A great place to start for many entrepreneurs is retail arbitrage opportunities like buying clearance and closeout products from Lotus (formally Tesco), AEON, Mid Valley Megamall and Lot 10 Shopping Centre.
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Step 2: Find out about the rules and regulations for starting an online business in Malaysia
There are often minimum capital requirements to starting an online business in Malaysia, so it's important for you to do some online research about the rules and regulations. For example, one online business requires a RM60 investment before you can begin selling online (to register a company).
In order to get started, you'll need to register your business with the government and obtain a business license. (In Malaysia, you can register online.)
Finally, be sure to know the online business tax requirements in your country before you start selling online. In Malaysia, for example, online businesses are required to practise the Sales and Service Tax (SST) at 6% of the sale price.
Step 3: Research what it takes to start an online business in Malaysia
It's helpful to learn more about the online store platforms you can use before setting up your online store, as well as how online payments work and online shipping options. PayPal is a fast and secure way to process online payments via credit card or bank account, Stripe is another online payment gateway that could be beneficial for online businesses in Malaysia.
Step 4: Sign up with a trusted online payment gateway provider like PayPal or Stripe
Once you've set up an online business, it's important to find a secure online payment gateway provider. In Malaysia, online stores use Paypal or Stripe; some online business owners use online payment platforms like Payoneer.
If your customers are mainly from Malaysia, going for local transfers (FPX) could save you some fees in the long run.
Step 5: Create your online business website, including online shipping options and returns policies
In order to be successful online, you need a well-designed eCommerce site with online shopping cart software that processes payments quickly and easily. Shopify is one of the best for online stores online business online stores.
To help build trust with online customers online, your online store should have online returns policies and online shipping options. You'll also need to decide how you'll deliver the products online to buyers online; will it be by regular mail or through a courier service?
Step 6: Promote your online store on social media channels
Social media is a great platform for online stores online business online stores to market their products. It's also important to make sure you have customer service online support set up for online customers online.
Step 7: Build your email list
Building your email list online is a great way to stay in touch with online customers online. You can make announcements about sales, send out newsletters, or provide information online about your products online.
At the same time, email marketing can be used to encourage customers to perform more purchases.
Email marketing solutions that are affordable for Malaysian eCommerce businesses are MailChimp, Encharge, AWeber and GetResponse.
You can't go wrong with either one of them.
Step 8: Decide what kind of shipping options are right for you and set up online shipping options for online customers online
When you're deciding how to ship your products online, consider what's going to be right for your online store online business online stores. Do you offer local pickup online? What about next day delivery options online or even international shipping options online?
You can also offer free shipping with a minimum purchase online, or online shipping insurance online.
Once you start online selling online, your online business online stores will be at risk of online fraud and online theft if you don't set up online security measures.
Step 9: Learn more about online payments for your online store, and the best way to ship products from an offline location to your customers
It's important to set up an online account with a trusted delivery service and learn about how an online store can accept international payments.
Some of your online customers will be international, so it's good to know more about how you can receive payments internationally. This will help eliminate potential issues online and online complaints online.
This is an important last step when it comes to starting an online store in Malaysia as wrong calculations will lead to massive losses, especially in shipping fees. Plus, slow delivery will also lead to customer complaints and dropping your customer satisfaction score.
Common questions about starting an online business in Malaysia
Online businesses in Malaysia are regulated online by the Malaysian Communications and Multimedia Commission MCMC online. Online selling online is legal online, but online casinos or online gambling sites are illegal online.
Ecommerce online stores online businesses online have a 21.98% profit online margin online, higher than retail online or physical stores online. Ecommerce online shopping carts are also easier to build and maintain than traditional online business websites and online stores; they can cost as little as RM30/month.
Responsive online stores online business online stores are online websites online that look great on any size of computer or device. To make your online store mobile responsive, you'll need to work with a web designer who can adjust the design of your online shop for different screen sizes.
You may also use tools such as online builders to create responsive and mobile responsive online stores, without hiring a website developer.
To start online selling online in Malaysia online, you can either use 3rd party platforms such as Shopee and Lazada or hire a web designer to build online shops for you online. Before making online shopping carts online and installing payment gateways online, make sure that your online shop meets the MCMC's requirements for legal online businesses in Malaysia.
In Malaysia, you are required to register for a license to sell things online which costs around RM60 a year.
To open online businesses online, including online shops online, you will need a registered online business name and be able to show the following documentation:
- Identification card online (MyKad)
- Recent utility bill or house address proof online
- Certificate of Incorporation online for your company online or list of partners in case you are starting an online business online as a partnership online.
- Bank statement online showing RM500 in online funds for the last two months online (if opening a local bank account online and not an online banking mobile app).
The cost of setting up online stores online depends on how much you want to spend online. A simple online website online can cost less than RM100 a month, while online stores online with more features could cost around RM5,000 or more to build.
Summary: Starting an online store in Malaysia
If you're looking to start an online business, there are many things that need consideration. One of the first steps is deciding whether or not your customer's location will be a factor for you in terms of selling different products and services.
If it does matter, then make sure to set up international payment options as well as shipping from an offline location abroad so that all customers can take advantage of what you have to offer.
Another important thing to consider when starting any type of business is legal restrictions in Malaysia - although most eCommerce stores are regulated by MCMC, gambling sites (online casinos) are illegal here which means any money spent on those types of businesses go unrewarded with returns for Malaysian citizens. The benefits associated with opening an E-commerce online business online are that you can:
- Have a wider online reach online
- Access online customers online at any time of the day online
- Give online shoppers online more payment options online to choose from online.
If you're looking to start an eCommerce website without any technical background, you will be able to do it yourself with the help of website builders such as Elementor. This is a much cheaper route but it might take some try and error to get it done right.
Online business ideas are different for every person, but in Malaysia, certain businesses remain prohibited. If you want to try your hand at eCommerce, here's what you need to know about online selling online in Malaysia online.
Ecommerce online business is the way of the future online, and it's a great online opportunity for those looking to start an online business startup online without any experience or technical knowledge. Online stores online can perform well online if you have something unique that your online customers will want to purchase online.
An online business online has a great online opportunity to make online money online, but only if you find something online that's worth online selling online. If you want to open up an online store online and sell products or services online, here's what you need to know about doing it in Malaysia.