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How to start your own business in trade?

All the talk about the possibility of starting your own business without initial capital is nothing more than an ordinary air shock. A unique idea cannot be a guarantee of starting a business from scratch, because even Mark Zuckerberg, having invented Facebook, was forced to take funds from Peter Teal, the founder of PayPal. A lot of people decide to opt for the trading sector, naively thinking that this business is easiest. They are mistaken: in this area there are many nuances. Still, the question of how to start your own, albeit a small, business in trade, is being asked by many. I will say right away that this article is not necessary for those who do not like to take risks, since business and risk are synonyms.

Before plunging into the trading business, it would be nice to save some money, at least for the purchase of the first batch of goods and current expenses. Half a million is the minimum. The ownership of real estate – and it is necessary even if you intend to open an online store – is a very serious help. If there is no room, then it will be necessary to rent it. For those who decide to open a small store and have enough money, the best option would be to purchase a non-residential premises or an apartment on the ground floor to place the store with its further transfer to the non-residential fund.

Before starting the activity, determine the legal form of entrepreneurship. If it is planned to sell alcoholic beverages, then LLC should be established; if not, it will be enough to have IP status. Next, select the taxation form – the owners of small retail stores pay EDS, which is quite profitable, since the accounting in this case is carried out in a simplified form, and the reporting is much less.

Decide what goods you are going to sell. Working with food products is more profitable, but risky, because they tend to deteriorate. Selling non-food items is very expensive and requires very careful market research.

It is important to find bona fide suppliers, especially when trading in food products. When concluding contracts, you should pay special attention to the terms of delivery and the payment procedure. Most wholesale bases supply goods at 100.0% prepayment, so if there is such a possibility, agree with the supplier about 50.

Before starting a trading activity, calculate the planned costs and revenues. Costs will consist of rent (if the premises are not owned), tax deductions, payments to extra-budgetary funds, utilities, including payment for electricity, water, household waste. If it is planned to attract hired workers, then their salary with all statutory accruals should be included in the expenses. The largest expense item will be the cost of purchasing the goods.

Those who sell food products at retail should buy goods often, but in small batches. In this case, losses from their damage will be minimized. Daily analyze the assortment of goods sold. This will allow you to purchase what is currently in demand.

When setting the margin, proceed from the prices of competitors. With a quick turnover, even a small margin can bring more profit. To attract a clientele at the beginning of trading, you can set prices slightly lower than competitors. The main thing then – to raise them not sharply, but smoothly.

Remember, in trading activities there are no trifles. Constantly monitor the market, vary prices and keep calm. In this case, your trading business will be stable.

Before plunging into the trading business, it would be nice to save some money, at least for the purchase of the first batch of goods and current expenses. Half a million is the minimum. The ownership of real estate – and it is necessary even if you intend to open an online store – is a very serious help. If there is no room, then it will be necessary to rent it. For those who decide to open a small store and have enough money, the best option would be to purchase a non-residential premises or an apartment on the ground floor to place the store with its further transfer to the non-residential fund.

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