Tibbychick

Hey guys,

I've been running a small business on ebay for a few years now. It started out as a casual endevour to make extra money on the side. Then last year, I increased my sales volume to about 100 or so items per month on ebay, or about an average of $1000 per month in sales. I've now realized that I would love to do this full time, in my own store. This involves me moving back to NY (again), and living at home (which I prefer at this point). I'm thinking about taking out a small business loan, renting a store front, and having my entire inventory for sale in the store, as well as ebay.

I think I have a general idea of what it takes, but where do I start? I have my ideas set, so what do I do next? Any help/ideas/advice would be greatly appreciated.

mwood

send link to your store on ebay...curious to see if you got anything i need or want

Tibbychick

Well, right now it's just tib parts. I'm gonna post a thread later with a list of my remaining parts. But what I normally sell is women's clothing, shoes, and accessories. It started with my cleaning out my closet, and selling it all on ebay. Then I grew my inventory from there.

REDZMAN

I too would like to see. You sure are moving a lot girl. LOL

First thing that I know you need to do, that many do NOT do and eventually get in serious trouble for, is apply for a business license in the city you will be doing your business. The GOOD thing it does is give you a tax ID number and the ability to buy stuff at wholesale, saving you a ton of money. They usually cost less than $50.

TibFreak

TC, you don't by chance have some window switches that aren't faded to white? Driver and passenger side.

mwood, (removed) {why would you want to buy women clothes?}

mwood

^^^

{Because I have a wife}

Tibbychick

Well, I won't get into detail, but, I need to chase my dreams instead of have them made for me.

So, yeah I used to work for the town government, so I have connections there. I was wondering about licensing and whatnot. I'm sure I'll need some sort of permit as well. Also, what about collecting sales tax, and taking credit card payments? I suppose I'd have to get a card swiper. Also, I would want to register with the chamber of commerce.

My last job was a great experience, although my boss turned out to be a money grubbling b!tch and I had to quit. But it was great to see how a small business is run, and how everything works. And also what not to do, lol.

TibFreak, I will send you a PM.

Bullfrog

If your going to do it for a business you have to keep in mind that in the US tax code you have to report your earnings on a sale. If you ever get audited and the see that its bad muju.....

Ive seen a lot of vendors have a 3% surcharge to cover taking credit cards.

i8acobra

Start by forming an LLC (Limited Liability Corporation). This usually requires you to fill out and file a "List or Managers" form or something similar with the Secretary of State. There are usually free services that can give you advice on the proper procedures. Try calling your local SBA (Small Business Administration) office and see what advice they can give you. Sometimes copy shops, like Kinko's, sell packets with all of the paperwork you need.

supercow

Anyways if you have any small business questions let me know, I've been doing this for 4 years now.

Anyways a store front isn't all it's cracked up to be. Here in Ashland store fronts on the main street run at least 1200-1500 I'm sure they'll be way higher in NY so your going to have to move a lot more product to make it viable. If I were you I'd work on growing the online some more, maybe create a online store front to compliment your ebay offerings.

edit: btw, you don't need an llc, thats mainly for protection against being sued and such, you can run as a sole proprietor for now and switch later on down the road.