Step 2 Next, you need to calculate how much you are willing to spend to create your own online store or business. If you are buying products at a low price to sell, you need to create a budget. If you are making your own products, you need to calculate how much it’s going to cost you to produce the items.

Once you have done this, you will have some price range in mind for what your willing to spend and how much you need to charge for the products or items you will be selling.

Step 3 Next, you need to find an online store hosting provider. Now, there are many ways that you can go about this. You can choose to use auction sites eBay, the world’s largest online communitity for purchasing products, or other similar sites such as craiglist, etsy, or uBid.

Usually these auction sites charge an up-front starting fee and usually have selling and closing cost fees. They may be worth it if you have enough business – but if not, your online store may not work out so well. The good thing about these auction sites is that you don’t want to create a lot of buzz about it – the buyers and traffic are already there looking to buy from someone.

Step 4 If you don’t want to consider auction sites to sell on, and you want straight-out pricing – you can make your own store at your own website. You can do this with many free webhosting sites such as YolaSite, Webs, or Geocities.

The only thing about creating your own website is – you must put it out there, promote it and drive traffic and buyers to it yourself. It may be a piece of cake for you, but some might have difficulty.

Step 5 It’s important when you’re creating an online store that you provide some way of easy and secure payment. The easiest and safest way to sell and receive payments online is to use a secure online banking system such as PayPal. You can accept payments from credit cards, debit cards, and bank account securely and safely.

Step 6 Follow these steps and educate yourself as much as possible before getting in over your head in a new online business. Try out different things to see what fits into your lifestyle and which you prefer the most.

The only other thing you should always remember is to communicate openly and speedy with all customers, offer returns and good policy, and be truthful about the products you are selling!
References :
My personal experience