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  • #982325
    Soul Living
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    Hi fellow Forumites,

    I will give some background first –

    I have operated my own Massage, Health & Beauty business for going on 20 years now full time under the name of Soul Living Natural Therapy Centre. It is a total hands on and very physical (and mental) job. I do not see myself “retiring” for some time, and yet, cannot see myself being able to keep doing what I physically do every day.

    To assist me with this, I decided to import a product in Body Contouring so I could continue earning an income but with less physical activity. This product is one I will be Wholesaling as well as retailing. I have other ideas as well in the retail/wholesaling arena that I will incorporate down the track (a work in progress)

    I have my website – check
    I have my facebook page – check
    These are both under my existing trading name.

    My dilemma –

    Do I, or should I, set up a totally new identity for my imported product and any other products that will be added in down the track? e.g. website/facebook etc.

    Thanks

    Toni Haigh

    #1136205
    PRO
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    • Total posts: 450
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    Personally I would
    -setup a new legal entity
    -setup a second new legal entity if you anticipate that the importing is going to be very profitable (or after you have been operating and can tell that it is going to be)
    -completely different names for the product, facebook etc.

    You can tell your face to face customers that this is your product while maintaining separation that may stop your competitors from stocking it.

    #1136206
    Divert To Mobile
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    Hi Toni,

    I agree with Daryl’s post, and will also add that as the importer you are responsible for the product you import. If anyone has a reaction to a product you have imported you are responsible as though you were the manufacturer. So get PLI. Creating a new entity will also help protect your existing assets and last 20yrs of effort should something go horribly wrong.

    Steve

    #1136207
    Soul Living
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    • Total posts: 8
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    PRO, post: 155143 wrote:
    Personally I would
    -setup a new legal entity
    -setup a second new legal entity if you anticipate that the importing is going to be very profitable (or after you have been operating and can tell that it is going to be)
    -completely different names for the product, facebook etc.

    You can tell your face to face customers that this is your product while maintaining separation that may stop your competitors from stocking it.

    I knew or felt I knew what to do. It helps to be able to talk and bounce things off of others when you work Solo.

    Many thanks, I now have a lot of thinking and preparing to do.

    #1136208
    Soul Living
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    Divert To Mobile, post: 155167 wrote:
    Hi Toni,

    I agree with Daryl’s post, and will also add that as the importer you are responsible for the product you import. If anyone has a reaction to a product you have imported you are responsible as though you were the manufacturer. So get PLI. Creating a new entity will also help protect your existing assets and last 20yrs of effort should something go horribly wrong.

    Steve

    Hi Steve,

    Thanks for taking the time to respond to my post. The insurance thing is something I have overlooked. Will look into this as well. Head is spinning, will get there though.

    Toni

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