Parts Retail businesses need at least a resale permit or wholesale license AKA seller permit.
You also need a Parts business tax registration license and a an assumed business name if you have a retail business name.
More than 31% of the GNP, though, less than $5,000,000.00 is generated through retail sales business.
Though less than 2 million retail businesses, there is about 1.6 ml retail stores not including online retail.
Note that if you hire retail employees, you will need an IRS EIN and a State EIN as well. Even one person Parts retail business can set up a corporation or LLC.
Parts
Selling Parts is a part of trade itself.
How It All Started
Parts Trade started thousands of years ago as barter because there was no money invented yet. Then with the money and credit system as well as the global access through modern means of transportation, trade became prevalent across societies and countries. Trade of Parts exists because of specialization and the division of labor, skills and production. For example, a shoemaker only makes shoes but he buys Cell Phone from the tailor or other retailer. What made trade explode was the Industrial Revolution that created new manufacturing processes from about 1760 to 1820 and 1840.
Lately, the Internet, a revolutionary invention of 1965, has changed our world with thousands of networks typically interconnected by fiber optic cabling.
Where is the Trade of Parts Now
There is nothing new about buying items wholesale at a low price and selling them at a higher price. This is being the case since thousands of years ago. Today, selling Parts has exploded because of the wide use of the internet as a media of getting access to buyers in venues such as personal websites, Amazon, eBay, Etsy, etc.
Where to Find Parts to Buy the Wholesale at a Low Price
Thanks to the global explosion of trade, you can now buy your Parts wholesale from as far as China and South Korea, eBay, e-commerce websites, online classifieds, and online store. Likewise, you can buy the in the global market but you an also sell them at the same market. Of course, shipping is expensive but with a little creativity, you can figure out how to bulk the shipping so you can save in shipping costs.
The Right Move at The Right Time
With changing players in the global Parts markets and jobs disappearing in the west lost to developing countries in the east, it is a very good idea to go alone and create your Parts selling whether wholesale or retail. It is not costly and, to the contrary, very lucrative.
Even though you need less than $1,000 to start, you have unimaginable profit potential. For example, you can earn as much as $10,000 per month selling paraphernalia Parts online. You just need the correct marketing for your business.
Specialize to Conquer
Of course, if you specialize in any Parts , you may find a niche and even make more money. The possibilities are countless and the potential unlimited. Finally, since it does not require large upfront investment, virtually no skills, you can quit anytime and still not lose much. So it looks good as an investment of time.
Where You Can Buy Them
You can buy from U.S. or Global wholesalers, auction, ebay, amazon or anywhere you can find them cheap. |