ralf1234 — 2011-05-22T01:48:09-04:00 — #1
Recently my Ebay sales have approached the point were I decided to start trying to buy more wholesale to get a better profit margin, but most of the ones I have come across need a reseller number. I am not officially a Legal Business yet, I just buy the items and then sell them. My sales have reached about $1k a month now my profit is about 10-25% of that.
What I want to know is it worth it yet to try and go threw the process of get a reseller number (which I don't know)
Basically what should my next stage be?
I did buy one item wholesale, I did it because at the time I was selling 2-4 a day and there was no way I could keep up with the sales, so I ordered 100 at the price of $.26 + $26 shipping (from HK)....of course as soon as I got them my sales stopped or slowed...I still have about 60 left. My higher priced items (over $100) sell about 1 to 4 a week on avg.
pbreit — 2011-05-22T20:54:36-04:00 — #2
If you plan to continue and want to buy wholesale, I'd suggest going ahead and getting a sellers permit/reseller number. The steps and costs vary by state but it is typically pretty easy and shouldn't cost more than $100.
ralf1234 — 2011-05-31T17:53:13-04:00 — #3
I have started to look into it, but it seems MD where I am is a little outdated, at lest in the description of the different B. License you can get as I was thinking of getting a License to. on the md.gov page after looking around they have listed different B. types closest thing to what I do I think would be a traders License, but nothing describes selling on the Internet.
As far as the Seller/reseller number best I can understand is there is no reseller program in md. What I read was all you have to do is get a Tax ID(Fed and state) and then just make up a reseller Certificate with a "promises" on how you plan on being a reseller and put the 2 IDs on it print it up and post it on your B. wall to make it legal. (thou at the moment I have no tax Id numbers)
pbreit — 2011-05-31T22:12:38-04:00 — #4
ralf1234 — 2011-06-01T01:03:17-04:00 — #5
so is this just a "free" info site as i notice its not a .Gov site (thanks for the info either way)
MY main reason to get either a reseller Cert of B.License is to be able to buy from more wholesale companies, as a few won't sell without one(I can in crease my profits this way, right now barely $10-20 an item), as far as taxes go I don't make enough to pay any(at lest I don't think so...including my own income tax)