Secrets to buying direct from the manufacturer?

markdownfrenzy

Does anyone have any tips or know the secrets to buying direct from the manufacturers and skipping the middle men?

grboutique

There's really no secrets if you want to buy directly from the manufacturer. Just make sure you have a Tax ID..... Oh and a BOAT LOAD OF CASH! =)

fudjj

Yep, GR summed it up.

No huge problem, some will require a legit off-line shop front, apart from that if your business and tax id is all in order then you just need to have a truckload of cash to buy at their MOQ.

markdownfrenzy

Thanks GR and Fudjj. I've been doing the online auction thing for a little while and would like to expand out. Been researching a lot lately and want to do everything the right way with regards to the ecommerce idea I have. Your suggestions are definitely helpful. Do you have any thoughts on if right now it's better to file a fictitious name, then the tax id, resale license, etc.. and go that route while starting out or incorporate, or llc, tax id, etc..? I have an appointment with my accountant in a couple weeks and want to run some of these questions by him. Figure it's still good to check with some good people like you already in the industry who may have experienced some of the growing pains.

Also, what do you think about trade shows and do you have any suggestions when building relationships that way?

Thanks. -TG

tanismaj

Depending upon your State, if in the U.S., then I suggest incorporating. It's not too terribly difficult and solves a lot of problems as far as conducting business. I run a S Corporation and it's been pretty easy. If only finding suppliers and Manufactures of Designer name brand stuff was as easy I would be money in the bank. But, that is my suggestion anyway. Good luck!!

daisyblue

I found a manufacturer in hong kong , the lady that i have been corresponding has been very good in responding to all questions i've asked and of course i have done my little research about the company so i'm about to put a very small order in to be sent to Sydney Australia-20 piece garmets to start with ( she has so far given me to quote incl. shipping cost etc and sending it through express mail service) My question is what do i need to do in terms of business side- do i need to register for ABN OR A TAX I.D? UNSURE what steps I NEED TO TAKE 'URGENT REPLY PLEASE'

THANKS

fudjj

If you intend on trading, then you will need an ABN at the very least, freely available by contacting the ATO. If you are only getting the samples to satisfy your own concerns, then you will need nothing at this point.

When you are considering starting to trade, I would suggest seeing an account to make sure you understand your taxation obligations, and book keeping towards that goal.

You will also need to work out what your business structure is going to be, for example sole trader, partnership and so on.

If you are going to trade in any name other than your own, you will also need to register that business name. Contact you local licensing authority in NSW or the Consumer Affairs Department for details.

daisyblue

Thanks so much for your advice

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