WANTED Wholesale Faq

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Noodles!
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WANTED Wholesale Faq

Post by Noodles! » Tue Jan 20, 2009 8:22 pm

So i'm looking to make a bit of money whilst still having an eccentric appearance, but not a lot of places around here like brightly haired employees.

So, i've heard about whole-sale and thought it could be a good way to earn some money, problem being I don't really know much about it. I know a few ladies on here do it, so I was wondering if someone could fill me in on the do's and don'ts and tell me how they generally got started.

How much do you earn?

Your replies are appreciated!

X
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Phoenix
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Re: WANTED Wholesale Faq

Post by Phoenix » Tue Jan 20, 2009 8:24 pm

You don't earn really through doing wholesales on here. You just kinda act as the gateway for people wanting to buy things at wholesale prices instead of paying full price. Sure, some people might offer a fiver or something like that as a way of saying 'thank you' but it's not really a way of income.

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IKickShins
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Re: WANTED Wholesale Faq

Post by IKickShins » Wed Jan 21, 2009 2:46 am

Are you talking about ordering goods at wholesale prices and reselling them at retail prices, or are you talking about becoming a wholesale company?
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Phoenix
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Re: WANTED Wholesale Faq

Post by Phoenix » Wed Jan 21, 2009 7:23 am

I thought she was talking about doing Punk 69 orders and stuff like that...unless she wants to do one of them and then sell them full price..

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harlequin
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Re: WANTED Wholesale Faq

Post by harlequin » Wed Jan 21, 2009 12:02 pm

Apologies Noodles! for hijacking your thread....

I have been thinknig for some months now about buying wholesale and selling at retail prices (prob a little cheaper) and am totally confused about how to go about it!

there seems to be so much information out there it is confusing which parts apply to me and which parts dont.

i have approached some companies about wholesale purchases from them and a few want a business/tax number and some dont.

however i went on the inland revenue website to see if i need to apply for tax and because my earnings wouldnt be enough to warrant one. or warrant adding tax to my goods, i couldnt figure out which!

So any info any of you could pass on would be really useful. or a website that spells it out in plain english!

Also, im presuming the laws are different in the USA than here in UK, and so how would i go about buying at wholesale prices form a US store, if they require paperwork that isnt required in the UK?

Thanks x

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Noodles!
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Re: WANTED Wholesale Faq

Post by Noodles! » Wed Jan 21, 2009 2:37 pm

Actually that's fine ^_^ I'm the same as you - buying at a discounted price and then selling on for just a little cheaper than the average retail price. So you kind of asked at the questions I had :i2:
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IKickShins
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Re: WANTED Wholesale Faq

Post by IKickShins » Wed Jan 21, 2009 10:27 pm

If you want to become a retail company, you need to get any licensing that is required wherever you are operating -- this varies by city, state, and country, so you will need to do research to find out what you need.

If you are operating from your home, you also need to contact your city about zoning regulations in your area for home-based businesses. Again, this will vary greatly by your location.

You should also invest in bookkeeping software like Quickbooks or MS Money, because you will of course need to file income taxes on all of your earnings. Make sure to keep copies of all of your income and expenses related to your business (like save invoices, receipts, etc).
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Allexiyah
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Re: WANTED Wholesale Faq

Post by Allexiyah » Sat Jan 24, 2009 2:49 pm

UK peeps will also have to inform their home insurance companies, you cannt run a business from home without having home insurance that covers you for working from home

You will also need to register with the IR for tax and your national insurance contributions

The UK duty laws have also recently changed. I buy punk69 corsets in and up until last september, never got charged duty but now EVERY order i place gets charged between £100 and £300's worth of duty (dependant on the size of your order)

think about returns policies, what if you sell a corset and someone doesnt want it - what 'terms' will you have (eg returned in the packet, unworn, in a sellable condition) will you charge a returns handling fee

Check the laws, read up on eveeything that may effect you. Get some book keeping skills, money management, organisation are all key skills you must have

Advertising, marketing, site design. When me and my bf's sister opened cadaver corsetry it took us 3 months to get a decent looking site with checkout capabilities sorted. And we onyl had basic photos then!

i love doing it, but its taken me 4 years to feel semi confident, and i still want to learn more about marketing and site design!

Good luck :)

CountryFreak
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Re: WANTED Wholesale Faq

Post by CountryFreak » Wed Feb 04, 2009 11:02 pm

sorry Noodles! i need to hijack your thread too.

how would i go abouts buying kk and welfs in wholesale lots(in the US)
:i19: we do the most stupid of things, but why do we do them :i14:

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IKickShins
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Re: WANTED Wholesale Faq

Post by IKickShins » Thu Feb 05, 2009 1:45 am

CountryFreak wrote:sorry Noodles! i need to hijack your thread too.

how would i go abouts buying kk and welfs in wholesale lots(in the US)
Get the licensing required by your city and state, then contact wholesale companies and open accounts.
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IKS @ Etsy - Clip-in streaks & top hats galore!
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CountryFreak
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Re: WANTED Wholesale Faq

Post by CountryFreak » Thu Feb 05, 2009 4:26 am

i have to get a license to buy large amounts of kk that would take forever
:i19: we do the most stupid of things, but why do we do them :i14:

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IKickShins
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Re: WANTED Wholesale Faq

Post by IKickShins » Thu Feb 05, 2009 8:18 am

If you're not willing to invest a few minutes into getting your license, you're probably not ready to run a company.
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IKS @ Etsy - Clip-in streaks & top hats galore!
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CountryFreak
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Re: WANTED Wholesale Faq

Post by CountryFreak » Tue Feb 10, 2009 2:46 am

thats not it im doing alot at school at the moment and barely have time to sleep
:i19: we do the most stupid of things, but why do we do them :i14:

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IKickShins
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Re: WANTED Wholesale Faq

Post by IKickShins » Tue Feb 10, 2009 7:04 am

If you don't have time to fill out a business license application, you don't have time to run a company. Running a business takes up more time than a regular job.
I Kick Shins - Now stocking olive green, pistachio, & neon purple kk jumbo braid!
IKS @ Etsy - Clip-in streaks & top hats galore!
Facebook - You know the drill ;)

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