I'm currently setting up a second store but I'd like to eventually move it to its own domain. How do I go about moving my databases from one host to another? I want to do all of the tedious work now and move everything when I'm ready for it to go "live", but I'm wondering if I'm not just wasting my time.

In your hosting control panel navigate to mysql databases/phpmyadmin. Open your databse and choose the 'Export' function. Select 'All' and check the box that says 'Save as file'. Then download it to your server as a SQL file.

You can then create a new empty database on the new server and import the file you have exported.