3169 Shares

Can anyone please give me advice on starting a buy and sell business?

Can anyone please give me advice on starting a buy and sell business? Topic: Competition in a business plan
July 19, 2019 / By Richelle
Question: I am planning to start a buy and sell business for hats and such but i dont know and dont have any other experience in selling stuff. I am only seventeen i never take any business course at all. my plan is to collect money to buy a wholesale for a snapback or basically hats and it is already achieved but i am scared to waste money on it because i will spend for about 700bucks on it. i dont know if this will go well or nothing since i have lots of competition here and i will start this with only by myself, but there is something in my mind that i need to do it and this is what i want to do. i just need some advice from the experts or any other people who has experience in starting a little business before so i have an idea on what to do or how to start it. thanks guys in advance.
Best Answer

Best Answers: Can anyone please give me advice on starting a buy and sell business?

Minnie Minnie | 8 days ago
Find a web forum on this type of business and become a member and learn learn learn! Also have a vision for yourself so you really know where u want to go/be. The have a plan to achieve it and if it's still hats business do it, take action! Remember it is us to dream and fun where most people fail is in taking action or having a plan
👍 244 | 👎 8
Did you like the answer? Can anyone please give me advice on starting a buy and sell business? Share with your friends

We found more questions related to the topic: Competition in a business plan


Minnie Originally Answered: I need advice on starting my own business?
When it comes to any business, to truly make great money at it, you must work for it and that doesn't mean sitting behind a computer all day. Yes, that means talking to people. Think about it. Even Bill Gates and Steve Jobs of Microsoft and Apple are constantly working and not selling scams to work from home on a computer. If you seriously wanna make great money and use your talents, visit my page. www.guarditthenetwork.com/derek

Lilita Lilita
Global money generating website for sale. The money generating machine can make $million dollars/month. Only real buyer contact me on skype: hmadnanbd
👍 100 | 👎 7

Lilita Originally Answered: Advice for Starting a New Business in TX?
Online businesses typically do not require to be licensed, but you can register your business name. On the page listing all businesses that needs to be licensed, Internet is not one of them http://www.tded.state.tx.us/guide/INDEXO... . However, if you decide to open a brick and mortar store, then you are likely to get a license for that. You can find the information you need on the process of starting a business in Texas from this A GUIDE TO TEXAS BUSINESS LICENSES AND PERMITS - Texas Economic Development http://www.tded.state.tx.us/guide/ Here are other resources that can provide you with information on starting a business in Texas Office of the Governor (has lots of good links to various Texas resources) http://www.governor.state.tx.us/ecodev/s... Guide to Permits, Licenses and Registrations http://business.texasonline.com/category.jsp?categoryId=2.1 As for running a business with a spouse, I am currently running my online business with my husband. We are running as an LLC but we have a buy-sell agreement to spell out what will happen in case of dissolution of business partnership, one of us dies, we get divorced or separated, etc. In any partnership, (especially business) I think it is extremely important to have everything spelled out right from the start. You don't want a situation where you don't know what will happen to your business assets and all the hassles falling out in a partnership will take. You can also run the business as a sole proprietorship. In this case, it is always easier to file your income taxes as married filing separately with you filing in the Schedule C for the business profit and loss. I suggest you consult a lawyer to help you decide the right legal structure for you, as well as a tax advisor. You can read more about business legal structures to help you decide the best way for you to go: Choosing Your Legal Structure http://www.powerhomebiz.com/vol3/legalstructure.htm Choosing an LLC Structure for Your Business http://www.powerhomebiz.com/vol33/llc.htm LLCs vs. C Corporations http://www.powerhomebiz.com/vol97/llcs.htm S Corp. vs. LLC: Which Structure is Right for Your Business http://www.powerhomebiz.com/vol136/structure.htm
Lilita Originally Answered: Advice for Starting a New Business in TX?
We have a small/mid-size interstate rental property business (we live in Texas). You should talk to an accountant & attorney, but what I'd tell you is it depends on what you want out of your filings. You can just operate your website business for some time w/o formally incorporating. You should do that till you are profitable & above a certain income point, or until you open a brick/mortar location (liability). Partnerships, sole prop, etc are not generally very good formats anymore. You still pay business related taxes thru your indiv tax return, but liability also is fully on you. The LLC is a little better. You still pay thru your or a group (partners) of indiv tax filings, but have much better liability protection. That's probably the best solution for you, but if you're trying to keep it seperate from a joint tax filing w/ your husband than you should consult an accountant on how to do that (prob stop filing jointly). There are a couple other full blown corporation types. They are designed for big established companies though. They do offer the benefit of high liability protection & completely seperate (and complex) tax filings/payments. You probably don't want to move that direction for some time. On checking with your attorney & acct you'll likely find incorporation in a differnt state (mostly delaware) is best based on their state laws. Also look at the new franchise tax laws passed in Texas. I does seem like a challenge, but compared to starting & operating a business it is not.

If you have your own answer to the question competition in a business plan, then you can write your own version, using the form below for an extended answer.