New business help please...

mollymoo45_2

Hi everyone, I have been researching for about a year now for a home interiors/furniture/home accessories business that I am hoping to run from home to begin with, I have sourced suppliers and got trade accounts a quite a few, but there is one company I'm struggling with.
They need proof of business, but I need them to supply me with items to sell so that I have a business ! As I'm starting up I have no invoices to show them as proof. i have been asked to get a letter from my bank, or accountant (don't have one as yet) or a solicitor as proof of business, what is the easiest/cheapest way of getting them proof? Any ideas? Would the above charge a lot for a letter? Any help, ideas would be fabulous! Thanks in advance for reading, I hope I have made sense

Savvy_Sue

I'm just wondering whether you need to have a trade a/c with this company before you start trading, or whether this one could wait until you ARE trading?

Also the alternative may be to pay up front rather than on account. Is that an option for this company? Please don't say you're relying on credit accounts for all your purchases, and that you'll only be able to pay when you've sold some of your stock, you have to ask yourself what you'd do if you were seriously overstocked and found some lines didn't sell ...

And have you asked them specifically what proof they require for a new business? Do you have a bank account for the business, and is that one of the options? Do you have headed paper (not hard to produce a few sheets!) or business cards?

mollymoo45_2

Hi Sue, no,no,no credit or account purchasing, I will buy with debit card over the phone which is acceptable, as I'm going to start having house parties for friends which i can collect orders and monies in and then place the order for delivery a week later. I just need proof of trading, which I can't give them until i have something to sell ironically! I can see from their point of view that I need to be a bona fide trader, but its difficult to start up without getting access to their stock. I will get a business bank account, but I don't want loans or anything. I suppose I could ask my bank if they would write a letter for me ?? I have no idea what a solicitor would cost?? Thanks for you help x

whitewing

I imagine they want something official with your business name on. If you open a business bank account, perhaps you could get someone from the bank to print off, branch stamp and sign/date a copy of your customer record showing your name, trading name and address? (Don't know if there are screens that would show that). That may be quicker than a formal letter.

Alternatively would they take a photocopy of the front of your business debit card? (That would have details on it that you would give them anyway from a security point of view)

mollymoo

Oh that's a great idea. Thank you! I will ask if they can do that for me tomorrow. Thanks so much x

oldoakey

Hi Molly

The problem can be that they don't want to deal with you because you do not have a shop and if they did you would be in direct competition with the official stockists. So some suppliers will deal with you and others will just turn you down flat.

I have been in this trade (with retail outlet) for some time now, I have accounts with a lot of companies and sometimes sell to other shops etc. Let me know who and what it is your after.