Lesser schools require less work exp?

Lower ranked business schools may require less work experience however you will need to check on a school-by-school basis to find out the specifics. That said, work experience is a valuable prerequisite for many schools because it provides you with a foundation for learning and understanding business principles. Finally, you should seriously evaluate whether a school that only requires a 450 GMAT can provide you with the business knowledge and alumni network you need to reach your future goals.

Thank you for your response.

I have one more question. I have ran an eBay business while in college for the last year, that has revenue of approx 10K per month. Does this count for anything in an application?

It wont be counted as a proper work experience; Part-time work and college interships also do not get counted.
But do mention it; it'll not make negative impact for sure. 10k is great sum! maybe you've some story to tell... definitely mention it.