Home – New Forums Starting your journey Startup Advice – Importing items and selling on Market places (online)

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #1237165
    shamiester
    Participant
    • Total posts: 2
    Up
    0
    ::

    Hi Everyone

    I have a full time job and also starting a small business of importing custom handmade knives from overseas and selling on online marketplaces like ebay, amazon, facebook etc.

    My supplier overseas was doing this with another partner in Australia and stopped after two years because of some ethical/payment reasons despite this being a lucrative gig.

    I did some initial research and its a couple billion dollar industry and despite tough competition it has potential and I would like to go ahead with it.

    My accountant recommended I setup a pty ltd rather than a sole trader for tax purposes since I already have a full time income.

    Though it looks lucrative on papers I still need to crunch some numbers and I was hoping to get some advice on calculating upfront costs, monthly operating costs and revenue so I can agree on a proper commission % with the supplier. The supplier hasn’t shared any estimated monthly volume of sales.

    Any thoughts on the business idea and help would be much appreciated.

    #1237194
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,339
    Up
    1
    ::

    Hi And Welcome to Flying Solo It is great to have you!

    Thank you for joining our community and posting.

    I kind of understand what you are asking but it is still a little unclear.

    What upfront costs do you need to calculate? Eg, If insurance is one of them, you will need to speak to several Insurance Brokers and write some numbers down.

    One tip is that your costs, should not be central to your supplier negotiations as they should be governed by industry norms – so that is another avenue of research to pursue.

    Your costs are your issue, not your supplier’s. There is some validity to bringing up costs in Australia vs the country of origin if they are different so that your supplier has context and understanding but even that conversation should be limited.

    Over the years, there have been several good discussions here on Flying Solo on this topic so I do recommend you use the search function.

    Cheers
    ~Paul

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.