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After you decided to go for an online store. You need to build your store. You need to register for a domain. You have to have your own domain because you don't want marketing somebody else's domain. After you registered your domain, you need to buy an hosting for your store.
And God appeared unto Jacob again, when he came out of Padanaram, and blessed him.
After you find some good keywords, you need to determine the products you like to sell. For the beginners, you might select one product to start. After you master the process of online stores, you can go for more products.
A good place to check the market is keyword suggestion tool. The most popular one is the overture suggestion tool. You type in a word and it will tell you how many searches of the word in the last month on overture. Since overture covers most popular search engines like yahoo, msn, altvista and so on, it will give you a good idea that how good the online market is for the keyword. A good market should have at least 1000 search for the keyword you typed in.
You don't need a large space for your store. Usually 50mb is enough. Most hosting now will support php. You can use some shopping cart written in php. Usually such hosting will cost less than $10/mo.
If your site is an informational site, you might need a hosting with bigger storage and band with. Nowadays hosting is not expensive. A good unlimited reseller account should cost you $30 or less.
And God said unto him, Thy name is thy name shall not be called any more Jacob, but Israel shall be thy and he called his name Israel.