Product Sourcing Course for Flea Market Vendors Lesson 3: The Benefits of Making Your Flea Market Business Legal
In this lesson you will find out how to make your business legal and how it will benefit you.
Step 1: Read Chapter 3 – Get Legal, or Get Cheated (pages 11-14) of the “Successful Product Sourcing” e-book.
Step 2: Review the key points below.
Key Points of This Chapter
-Key Point # 1: You must work directly with real wholesale suppliers to be truly successful in Ecommerce.
-Key Point # 2: You cannot buy from a real wholesale supplier if you are not a legal business.
-Key Point # 3: Anyone who allows you to purchase wholesale products for resale without legal business paperwork is not a real wholesaler, and is taking profit that should be yours.
-Key Point # 4: The basics for making your business legal (in the US) are:
- File your Business Name
- Obtain a “Tax ID”
- Open a Business Bank Account
- Open a Merchant Account
Step 3: Complete the necessary steps to make your business legal. Be sure to ask if you need any additional licenses or permits for your state, city or county. As a flea market vendor you should already have most of these set up. Once you are set up as a legal business, you will be able to work with real wholesalers and obtain the best wholesale prices for your products.
In the next lesson you will learn about four product sourcing methods that you can use to obtain products for your flea market business.
Lesson 1 Lesson 2 Lesson 3 Lesson 4 Lesson 5 Lesson 6
* Some of the information in this course is extracted from the “Successful Product Sourcing” e-book which is Copyrighted by Worldwide Brands, Inc.