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  • #967591
    Paul Serra
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    Hi everyone really happy to finally join flying solo! Great site!

    Just wanted to introduce myself as someone who has always wanted to fly solo. Finally i have started looking into establishing a small business (actually micro) of my own.

    I want to start an import and distribution business where i will be sourcing wholesale alcoholic beverages from South East Asia. My sales will be business to business and selling to other licencees for eg. bars, restaurants, bottles shops, pubs. The main distribution area will be initially will be Sydney.

    I have already begun research into relevant costs for eg, import duty and GST, landed unit costs etc and have already potentially sourced up to 5 different clients in the hospitality sector.

    I have not established my company yet but am looking into that hopefully this week after speaking with the international suppliers.

    Basically trying to get this up and running within the next few months, any tips or helpful suggestions would be much appreciated.

    I hope i can give back as much as i receive from these forums.

    Cheers

    #1027383
    FletcherTax
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    Welcome to the Forums Paul

    From having a client in a similar field – I would suggest to get all your costs out onto a budget or cash flow analysis so you know where you stand. Costs can quickly add up and its highly advisable to see what your getting into before getting in to them.

    For example, depending on turnover will WET and GST be applicable? What are the duties payable? Do you have the license required to sell alcohol? What entity will you be trading through and what are its costs?

    I guess a lot does depend on how your talks with your suppliers go. Have you actually checked demand for your type of alcohol? Have the 5 sourced suppliers expressed their interest for your product already?

    Looking forward to hear your progress.

    Janna

    #1027384
    FionaFell
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    Always a good idea to take to the government about specific licences, I assume some are required for teh alchohol side, but also for the import side. To make sure you don’t bring in stuff that is too strong, made of crazy illegal stuff or other nasties.

    #1027385
    Paul Serra
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    Thanks for the insight guys I’ve made a following with you two..haha it’s like your the only two responding. I really really appreciate it.

    I will be registering for GST but WET will not apply to me because I will be importing beer not wine. I know that I must get a wholesale/producer licence from office of liquor gaming and racing ($500) and business name rego from OFT ($152 I think) and establish company through online $599 (includes ASIC fee of $499) so that’s some initial outlay to establish things without business cards etc. I will be operating and storing beer at home initially. So i need to see what will happen with home expenses and taxes.

    Speaking with customs Im told there is not need to obtain an import licence but there is duties involved and gst because I’m looking at importing approx $10,000 worth of stock.

    The product is well known and the suppliers are looking for interested individuals and importers here so I guess that’s a start and the clients I have sourced here are restaurants and bars that have stocked the item before so they are very interested to have it back again.

    I’m just looking for a great accountant to help with the start-up costs and issues and need to finish my business plan so I can contact suppliers next week and open a line of commuincation with them.

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