User Level: 
Advanced

Creating a Paragraph Bundle is done in exactly the same way as creating other custom entity types.

So, prior to starting on a Paragraph Bundle, get a good understanding of planning your structured content and then familiarize yourself with Fields and the Field manager.

Once you have all of this down, the tricks to making it all work lie in applying the correct site level permissions and including access to the new paragraph bundle from within your Paragraphs drop-down field.