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Help and Advice please!:D

Hi everyone,

I am saving for a house deposit and am looking to earn some extra cash.
I work full time and im also full time at college (2 evenings and all day sats) im studying to be a hairdresser.

I found out we have free access to the hairdressing wholesalers, I went a few days ago and couldnt belive just how cheap everything was!

Im wanting to buy bits from the wholesalers and list them on ebay to make a profit. This wont be a long term thing I will be looking to do, just over the next few months to get my savings together/

I have no idea where to start really. I have an ebay account and currently have nearly 300 feedback would it be ok for me to keep my personal account for this? or would I need to open an online ebay shop?

How would I go about paying tax?
Would I need to register as a business?

I want to do everything properly but I just dont know how.

If someone could help me at all it would be very much appriciated

Many Thanks

Christie

Comments

  • Christie22 wrote: »
    I found out we have free access to the hairdressing wholesalers, I went a few days ago and couldnt belive just how cheap everything was!

    The first thing to do is check what the items you can buy sell for on ebay. Then work out how much profit you will make selling them.

    Hopefully you will make a good profit, but you don't want to buy stock only to find every other hairdresser is selling the same stuff and the prices are rock bottom.
  • jo_b_2
    jo_b_2 Posts: 7,122 Forumite
    1,000 Posts Combo Breaker
    Hi Christie22 :wave:

    You wouldn't need to open an ebay shop but you would be trading rather than just selling your own unwanted items so you would need to pay tax on any profits.

    You'll get more specialised advice from experienced ebay traders over on the ebay board, so I've moved this thread over there for you. :)

    Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL]
  • Great thanks!! I didnt realise this bored exisited! If anyone could help it would be very much appriciated!
  • Thanks Geordie Joe and Jo_b for the help!
    Would i need to register as a business?
  • soolin
    soolin Posts: 73,442 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Yes you would need to register as a business within 3 months of starting to trade. HMRC are very helpful and will give you all the info you need when you register.

    However I would suggest that you check the completed listings first for similar items and double double check you can make a profit. Ebay and paypal fees are expensive and although you might be looking at a large difference between buying price and RRP that might not actually cover fees, so check everything first.

    Also as a seller of health and beauty items you will be limited to a certain number of listings as health and beauty is considered a high risk area.

    lastly check out the VERO programme and make sure you are not going to sell anything that is registered there, some beauty brands do not allow their items to be sold by individuals.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
  • Wow brilliant you guys are well helpful!

    There was one product that has stood out to me its £17.99 in the wholesalers and is on ebay for between £85.00-£100.00 a time. So there is a definate profit there.

    I have looked at the VERO programme and the company is not registered there so I think im going to give it a go!

    Thanks alot!
  • frivolous_fay
    frivolous_fay Posts: 13,302 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Mortgage-free Glee!
    Christie22 wrote: »
    I have looked at the VERO programme and the company is not registered there so I think im going to give it a go!

    Thanks alot!

    The list only shows those with me pages, not everyone who has registered :)
    My TV is broken! :cry:
    Edit: refunded £515 for TV 1.5 years out of warranty - thank you Sale of Goods Act! :j
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