This paper proposes an evaluation model for internet shopping mall business by defining its characteristics and evaluation criteria. We analyzed the characteristics of internet shopping mall business environments and classified the business into four major categories. We derived the evaluation criteria which can evaluated all categories comprehensively. The proposed criteria are cost, netizen, technology, transaction, and marketing, each of which gives a significant impact on the business profitability. Based on these criteria, a quantitative evaluation method was developed. We also proposed a penta-classification scheme which can be used to identify the overall characteristics shape of each internet shopping mall business site. An actual application of our evaluation model was illustrated in order to show that our proposed model may be used in the real business sites.