1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
Dismiss Notice
Have you checked if your business appears in our directory? Add your basic information for FREE!

Click Here to know more!!

If you would like links to source leads, upgrade from £12.50 a month!

Click Here to subscribe!
Dismiss Notice

Hi Guest!

Our website stays online because of the support of our advertisers. A huge part of them are from banner ads that appear on our site. While some of them seems to be intrusive for some, these ads are needed to keep our community running and continue providing free membership service for buyers.

In light to this, we request that you disable ad blocking programs or add our website to your ad blocker's whitelist. This keeps us from offering our basic membership to everyone for free and help with maintenance costs of our website.

If you have already disabled ad blocking programs or added us into the whitelist, please ignore this message, this message will disappear in a few seconds!

Babz Media on eBay

Discussion in 'Online Marketplaces - eBay, Amazon, Etsy and more' started by Sc0tty, Mar 19, 2013.

  1. shopafrolix

    shopafrolix Banned Member

    Joined:
    Oct 4, 2011
    Messages:
    4,662
    I'm going to set up a massive retail company and be the cheapest in the World.

    I'm going to be the King of ebay sellers.

    I'm going to do this for a few years at a loss.

    I'm going to knock up massive credit/debt with suppliers, staff, ebay, postal companies and the like.

    The final month I'm going to pay off one debtor, Mrs Shopafrolix with everything thats in my Paypal account and all my stock is going to be 'sold' overnight (it won't be in the warehouse anyway) to Ms Shopafrolix at 1p

    I'm going to go BUST ! Everyone will say 'no wonder, selling at those prices'.

    Don't tell Royal Mail, DHL, the VAT man, Inland Revenue, eBay or my staff this, will you ?

    Who wants to come to my house warming party in the Bahamas ??

    Now, where's company house , Cardiff ? I want to register my new company - Babzz Mediocre Plc
    Sc0tty and danridesbikes like this.
  2. love-clothes

    love-clothes

    Joined:
    Mar 24, 2009
    Messages:
    345
    This is very true,many companies build up a lovely portfolio and then disaapear overnight..

    re emerge with a new name and owners etc and do it again..
  3. Digitalfever

    Digitalfever

    Joined:
    Jul 8, 2009
    Messages:
    1,718
    How you know that ?


    I know i guy who runs a big ebay and amazon operation and i know the company turns over just under a million a year and makes a small profit but he pays himself 5K a month. Although the company doesnt make much he's certainly well off !
  4. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,437
    Directors dates of birth are publicly available.

    The guy you know, is that £5k a month salary or a nominal monthly wage and dividends that average out at £5k? Either way, the company is making at least £60k profit a year and/or his personal tax bill is pretty large.
  5. Digitalfever

    Digitalfever

    Joined:
    Jul 8, 2009
    Messages:
    1,718
    Its a monthly wage he pays himself i think. His wages dont come out of the profit, its a company expense. Once all expenses are paid including wages then the company is left with a small profit.
  6. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,437
    Problem with doing it that way would mean he is paying more in personal income tax and National Insurance than he would pay in Corporation tax. Sounds like he needs to speak to a competent accountant.
    Gary likes this.
  7. Digitalfever

    Digitalfever

    Joined:
    Jul 8, 2009
    Messages:
    1,718
    Maybe Im wrong then. I know he has an accountant so I would hope they would be making the most of his money !
  8. MSFB

    MSFB

    Joined:
    Dec 13, 2010
    Messages:
    2,248
    I'm sure it will be salary + dividends. is £60k a year really that good? I'd obviously kill for it now, but I feel like I need £100k to feel like a proper baller. In order to take £100k I need company profits of like £700k

    Looks like I won't be balling any time soon :(
  9. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,437
    It probably is if an accountant is advising them but then it means that the company is making profit as dividends can only be drawn from profit.
  10. Nick-D

    Nick-D

    Joined:
    Oct 29, 2005
    Messages:
    4,847
    Why such as disparity between profits and what you take?
  11. MSFB

    MSFB

    Joined:
    Dec 13, 2010
    Messages:
    2,248
    I can't image taking a big % of my profits because I know it will slow down the growth of my business. 2 years in and I still barely take a penny. so I can't imagine taking 100k out unless the profit was high enough to make that seem less significant.

    How do you decide how much to take out for yourself?
  12. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,437
    Enough to feed a family of 4 :D
  13. Digitalfever

    Digitalfever

    Joined:
    Jul 8, 2009
    Messages:
    1,718
    Rice and peas everyday ?
    toysandgifts likes this.
  14. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,437
    And baked beans on toast for Sunday dinner!!
  15. toysandgifts

    toysandgifts Banned Member

    Joined:
    Nov 6, 2010
    Messages:
    2,451
    And the occasional smarties tube?
  16. Dean

    Dean

    Joined:
    May 22, 2008
    Messages:
    9,437
    That's what we make our home made toilet rolls from.
  17. lauris

    lauris

    Joined:
    Dec 2, 2012
    Messages:
    395
    My wife recently bought a thermostat from them, for 1.49 with free post.
    It came broken, so they sent another one.
    Postage was regular stamp that you would get in a post office I think for £1.10 2nd class large envelope. (twice on this transaction, that alone is more than what I paid)
    and then we made another purchase of household scale for £7.99 with free postage, It came with signed for service and again it was regular stamp you would get over a counter. And it was for £3.15 I think.
    The only way they can make money is if they buy abandoned loaded containers from customs and ports full of stuff for fraction of a cost, which could be possible in real life.
    I have no clue about those postage stamps.....there is no discount at all (on my 2 purchases)...........I guess Mr babz buys used stamps on ebay:) and reuses them.
  18. Sc0tty

    Sc0tty

    Joined:
    Jan 19, 2010
    Messages:
    701
    Mine came with a PPI impression. They must have had a few stamps about for your purchases.
  19. lauris

    lauris

    Joined:
    Dec 2, 2012
    Messages:
    395
    It was not those stamps that you can buy, those were the ones that you need that postal printing machine you can get those in post office only.
  20. Jimbob12

    Jimbob12 Banned Member

    Joined:
    Mar 22, 2013
    Messages:
    114
    Is the royal mail having a price increase again does anyone know
Back to top

Share This Page