The Wholesale Forums

[NewSeller]

on the 31st of October 2005 i started a job, The job required a 2 year temporary contract, renewed every 13 weeks before i was able to go fulltime. Under my first boss all my contracts have been renewed no problem. However after the last one, i moved department and got a new boss.

This lead to my new boss telling me its not likely that id be made permanent and if i wanted to stay on i'd have to stay temporary. Due to the fact its up to my boss as to weather or not im permanent, i held him responsible and let him know about it. Needless to say this did me no favours and after a pointless trip to my union today im now resigned to having no job after the 31st of October.

This is coming at a pretty bad time. I've set alot of things in motion in regards to starting up my new business and if those lazy postmen ever got the notion to work things would be alot further ahead.

When i get my business bank card and cheque book, i have a courier lined up to deliver for me. I have a supplier waiting for me to call in with my proof to set up a trade account. I also have someone waiting for money to get my website up and running.

In the past few days ive used some contacts to give me tax advice and give me access to an accountant for a very low rate. I also have an offer from an importer/exporter i know to source and import me the parts direct from the factories in china. To ensure i get the best prices, although i feel this would be a massive favour he would be doing me, i dont know if i should accept it as i dont want to cause him any hastle.

Now where do i go from here? I dont want this to halt my plans. With all the help im getting i feel i should really act now, but funding will be an issue, can and should i get a loan? Will i get a loan with no job?

There is money to be made in this business, i can make money buying parts from ebuyer putting them together and selling them on ebay, if i get thim from a supplier or even better direct from china then i can make huge money.

What should i do?

[Boro97]

Just go for it take the chance you've nothing to lose really have you, if you put a buisness plan together i'm sure banks will give you a buisnes loan .
So go for it
,

[greedyboy]

When the going gets tough....

I find these set backs are a blessing in disguise! Stick with your plans and buy your products from eBuyer. Build up your feedback and your business. It will take longer but the hard work should be worth it. You never know, you may also stumble on something in the meantime, your business will may then go in a complete different direction and not be stuck with a load of stock from China.

Then once you have established your business and reputation look to expanding by importing.

I always say, start small and think big.

Good luck.

[anotheruser]

Take 'Arfur's advice. And start small. The last thing you want just now is a ton of stocks and the overhead of premises before you have any cash flow to take care of it.

Start getting the prices together for what you are going to sell, along with pictures and descriptions. Build a couple of boxes and knock on every door you can find in your town until they are sold, then build a couple more, until your web site and eBay start to kick in with a few orders.

See if there are places locally where you can advertise free or cheaply, too.

Good luck.

[NewSeller]

Good advice lads, the this importer i know deals with people in china so much he said there would be no need for minimum quantities. But like i said hes a real nice guy and i wouldnt want to cause him any hasle.

Hopefully i get my card through soon then ill be able to open up a trade account with my local supplier and get an idea of prices. I should be able to make money from that.

[MustHaveMobiles]

Losing your job is usually a great motivator to pursue those things that always seem to be a next day job, think positive and utilise all the breaks that you can to maximise your business opportunities. He may be a nice guy but if he gets business from you long term what hassle are you causing him, even if hes doing it as a favour for you at no gain to himself then I am sure the favour can be returned in the future.....after all its not what you know but who you know!

[iBuy]

Like the guys above me have said, its a fantastic oppertunity to get something off the ground.

My mum has a similar story to this, she was forced to change job. After testing her new position, she hated it, she quit and started work in a differnet location. After a while she realised that she wanted a different lifestyle.

In 2003 with help from a few friends we persuaded her do what she loves doing, making curtains, cushions and home interiors using fabrics from all round the world.

Now, 4 years later she operates 3 seperate shops out here in cyprus and in 2009 she is moving back to UK opening a shop in the Lake District.

The above is a bit of a success story but it all started small and she stuck with it, several times the shops werent bringing enough money in but after good advertising and a loyal customer base shes got to where she wants to be. As greedyboy said, start small, think BIG!

If you are going to get a loan a solid business plan is in order as thats where my mum had problems. Dont take a second thought, jump right in. Its only a bit of money and its a great experience. You never know, it may get big and you may have to expand etc.

[Baxthorpe]

You have to go for it ...
Before eBay was invented, I knew a man who used his last pay packet to rent a small shop - then he filled it with everything from his house that was saleable, including the kids' toys and the washing machine! He turned it into a very successful business!
The entrepreneur's secret is to sell anything that makes money ... aznd do it as quickly as possible.

But be careful not to let your problems spill over into business meetings - be positive, and if there are negatives in a situation do not reveal them. Don't tell anyone "more than they need to know" - that way you avoid losing someone's confidence in you.

[marc72]

One thing you may want to look into if you do want to stay in your job is to have your employment status checked. As you have neen temping for 2 years at the same company you may have incured employment rights and be seen as a employee rather than a temp. If this is the case then the company would have to make you perm. I know this happened where I worked in a london council and as shch we did not let temps stal longer than 51 weeks in total..... and the usual length was up to 13 weeks !!!