Note: If you do not see the options above, choose Admin centers > SharePoint and then choose New > Private Site Collection.            

• In the Title box, type a name for the site collection.

• In the Web Site Address drop-down lists, select a domain name and a URL path—either /sites/ or /teams/—and then type a URL name for the site collection. 

• In the Template Selection section, in the Select a language drop-down list, choose a language for the site collection.  You can enable the SharePoint multiple language interface on your sites, but the primary language for the site collection will remain the one you select here.

  Note: It's important to select the appropriate language for the site collection, because once it's set, it cannot be changed. After creating a site collection, verify the locale and regional settings are accurate. (For example, a site created for India will have its locale set to English.)

• In the Template Selection section, under Select a template, choose the template that most closely describes the purpose of your site collection. For example, if your site collection will be used for a team collaboration, choose Team Site. 

  Tip: For more information on templates, see Using templates to create different kinds of SharePoint Online sites.

• In the Time Zone box, select the time zone that’s appropriate for the location of the site collection.

• In the Administrator box, type the user name of your site collection administrator. You can also use the Check Names or Browse button to find a user to make site collection administrator.

• In the Storage Quota box, type the number of megabytes (MB) you want to allocate to this site collection. Do not exceed the available amount that is displayed next to the box.

• In the Server Resource Quota box, type the amount of resources you want to allocate to the site collection.

  The server resource quota is a number that represents a quantity of resources such as  processor time and memory shared between site collections.  If your site collection is a typical team site, or personal site, you can accept the resource quota default. If you are creating a customized site collection or sandboxed solution that will run code or have heavier usage, you may want to increase the number for those site collections. For more information on managing server resource quotas, see Manage SharePoint Online server resource quotas for sandboxed solutions.