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  • #987606
    zl109
    Member
    • Total posts: 5
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    hey :) i’m very new to all this, still in early stages of putting up an online retail store in victoria, i’d love to be able to talk to someone about how i go about all this as i want to start as soon as possible.
    i wanted to run the store through my house as a sole trader
    haven’t got an ABN yet( not sure how to get it with the whole needing to already start enterprising thing)
    alibaba needs a business name for me to bring in the order i need, but i can’t give them a name because i need an ABN to register the business name to get the stock to start selling haha

    i’m in abit of a loop, but it’s probably just something i’m being silly with. any help would be greatly appreciated !! :)

    #1163511
    sam_leader
    Member
    • Total posts: 660
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    Hi and welcome!

    I am sure you’ll find the links in this post useful.

    Good luck and good on you for starting this soloist thing very young!

    Sam

    #1163512
    Itch
    Member
    • Total posts: 15
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    G’day,

    Getting an ABN number shouldn’t take you too long, you just have to fill out an application online & you’ll get your ABN sent to your email address maybe an hour later. If you’re under 18 you don’t have to worry about tax; not until you’re 18. When you’re setting up a retail store, give Weebly or WordPress a try, one of those free-to-make sites to get an overall feel for what your design will be.

    Here’s a good piece of advice from eStrategyPro.com, a member of the forums for naming your business:

    Quote:
    1. When people see the name, they know exactly how to pronounce it and there’s only ONE WAY to pronounce it.

    2. When people hear the name, they know exactly how to spell it and there’s only ONE WAY to spell it.

    What sort of things will you be selling from home?

    #1163513
    MissSassy
    Member
    • Total posts: 1,255
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    Create yourself a business plan and this will help you to check off the things you need to do. Try one from one the bank websites, they also have other cash-flow forecasts and things to help you.

    Look at the feasibility of your idea and ask yourself who is and why people are going to buy from you.

    Lot’s of planning to do which is very important along with the ABN, business name, domain etc.

    #1163514
    zl109
    Member
    • Total posts: 5
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    Itch, post: 189189 wrote:
    G’day,

    Getting an ABN number shouldn’t take you too long, you just have to fill out an application online & you’ll get your ABN sent to your email address maybe an hour later. If you’re under 18 you don’t have to worry about tax; not until you’re 18. When you’re setting up a retail store, give Weebly or WordPress a try, one of those free-to-make sites to get an overall feel for what your design will be.

    Here’s a good piece of advice from eStrategyPro.com, a member of the forums for naming your business:

    What sort of things will you be selling from home?

    just small fitness equpment, nothing large and heavy though :)

    #1163515
    zl109
    Member
    • Total posts: 5
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    how much risk is there do you think if i’m a sole trader living at my parents home still. is there any chance of something blowing up in my face and costing me thousands of thousands? i only plan to buy $100 with of stock then sell it higher, then recycle the profits back into buying larger quantities, but the legal requirements make me abit cautious. is this a reasonably financially safe thing to do, do you think? :) i’m getting the ABN as i write this :D

    #1163516
    Tony Manto
    Participant
    • Total posts: 581
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    At that level there is no real risk. You can import up to $1000 before you have to worry about import tax. The one thing you need to be aware of, is that when you are importing you take the responsibility of the manufacture which means you need to cover the warranty of the products you are selling.

    #1163517
    martin.firth
    Member
    • Total posts: 259
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    zl109, post: 189173 wrote:
    hey :) i’m very new to all this, still in early stages of putting up an online retail store in victoria, i’d love to be able to talk to someone about how i go about all this as i want to start as soon as possible.
    i wanted to run the store through my house as a sole trader
    haven’t got an ABN yet( not sure how to get it with the whole needing to already start enterprising thing)
    alibaba needs a business name for me to bring in the order i need, but i can’t give them a name because i need an ABN to register the business name to get the stock to start selling haha

    i’m in abit of a loop, but it’s probably just something i’m being silly with. any help would be greatly appreciated !! :)

    Hello and welcome. I started my business in high school, so I’d be happy to mentor. My business is on track for seven figures next year, so don’t give up and get a job at McDonalds!

    PM me, or send me an email through my site :)

    Martin

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