Quote:
Originally Posted by hundredone
Hehe,
Do you have an online business?
I am selling handmade jewelry and gold/rosegold/whitegold designs and more. I have the products ready. I just need some help with set up website and start selling. Like how to open a business account etc because i have not done it before. Also not sure about how to do the taxes part. I guess all would be recorded in the back office of the shopify.com store website. I plan on wholesaleing to jewelry/fashion stores in vancouver and sell through my website.
Thanks
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I don't, although what I used to do for a living had something to do.
From your last post, I don't think you figured out what I said in my previous post.
Market - you are aiming both wholesale and direct simultaneously. It's a big no-no IMHO for small starting business like yours. Your website would be in direct competition with the B&M stores. Why would they sell your product unless you offer them very attractive terms (big discount, flexibility... or more)? I'd suggest sticking to one or the other until you get some attention or merchants come to you. As of now, you have no bargain chips; everything to lose, little to earn. The only way for this to work is more or less the Apple model: you have a good reputation, and you do both direct sales and wholesale while maintaining the control on pricing. Until then, pick a side.
Cost - tax is a complicated issue. Shopify takes the accounting part, but not the tax part. You are still responsible for law compliance (GST/PST registration? incorporation? liabilities?). I'd suggest calling a few accountant who specialize in small businesses to discuss. And tax is not the only thing, you have to have a clear idea on how much it would cost to get your product from raw material to you and finished product in customer hands and/or anything in between.
Plan - you don't seem to have one. Do it, and think it through again. It would cool down the adrenaline you got from the excitement of starting your own business and take a realistic view on your venture.