Home – New Forums New here? Share your story New here. need advice on Cosmetic business please.

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  • #968105
    Beauty Balm
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    Hi, I may not be on the right site but I’m finally doing something about my business ideas. What or where do I start in order to begin selling my homemade beauty cream? Do I need permits, ABN? All advice welcome. Thanks.

    #1030905
    Farid Zaki
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    Hi Beauty Balm,

    Welcome to Flying Solo forums.

    You need to decide on a business structure first e.g. Sole Trader, Company or Trust first.

    Then you set up the business structure and then apply for ABN registration.

    If you want to use a business name e.g. Beauty Balm, you need to register the business name with the office of Fair Trading: http://www.fairtrading.nsw.gov.au/Businesses/Business_names.html

    If you want a company register with ASIC:
    http://asic.gov.au/asic/ASIC.NSF/byHeadline/Starting%20a%20company%20or%20business

    If you are carrying on a business you need to apply for ABN, if your estimated annual turnover is 75k or more you need to register for GST.

    You can appoint an Accountant to apply for your ABN for a fee or apply yourself online at: https://abr.gov.au/abr_bc/homepage_bc.aspx.

    I would naturally suggest you speak to an Accountant to help you out and guide you in the right path.

    #1030906
    Beauty Balm
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    Thanks for your help Farid.

    #1030907
    akagrp
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    Hello

    Farid is correct regarding tax and accounting. But you also need to get your Balm approved given it is a cosmetic.

    Have you spoken to anyone about the required packaging/labeling required on the product? Has the product undergone testing?

    If you plan to sell the product as natural or organic that again has sets of rules.

    I recommend you contact the Department of Fair Trading in your state they will be able to guide you on what you need to do to get the product ready for market.

    With regards to tax, accounting I would recommend you contact an accountant or go to your local BEC (Business Enterprise Centre)you may also qualify for some funding assistance.

    Good luck with it all

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