Expansion to UK – Part 2 : Interium VAT Payment

Expansion to UK – Part 2 : Interium VAT Payment

So, basically I’ve not even sold anything in UK, and I’m already due for a interium VAT payment of £900. Gee. I’m under the annual accounting scheme. You can join the scheme if your estimated VAT taxable turnover is £1.35 million or less. Under this scheme, I’m required to make advance VAT payments towards my VAT bill – based on my last return. Since I’m new to VAT, it’s an estimate based on my projected turnover when I submitted my VAT application. Wished someone had told me that -.- Anyway, when I submit…

Expansion to UK – Part 1 : VAT Application

Expansion to UK – Part 1 : VAT Application

Been racking my brains to increase my sales. I have two options, increase the number of SKUs I’m currently selling. Or expand to another market. I opted to expand my operations to UK. Part 1 : Applying for VAT I decided to outsource this part of the process. Why? I simply feel that it’s a headache I don’t need 😉 Time is money, and my time is better spent on other aspects of the business. I decided to engage Simply VAT to do VAT registration on my behalf. You can email them…

What should you sell on Amazon?

What should you sell on Amazon?

Million dollar question 😉 Obviously I won’t be able to tell you exactly what I am selling. But I do have a set of guidelines influencing my decisions. Category New sellers are typically restricted in some categories. Examples of restricted categories are Grocery, Health & Personal Care, Beauty, etc. You want to give those a miss when you first start out. And yup, I’m still gated in those 🙁 There is no such thing as the “most profitable” category. There are opportunities in all categories. You just need to find it! Best Sellers…

Rules of the Business

Rules of the Business

The biggest problem sometimes with sourcing for products to sell? Falling in love with the products you shouldn’t want to sell. Most of the time for me, that would meant the stuffs that are fragile. Beautiful teapots, ceramic wares, fairy mugs… In fact, right now, I’m crunching the numbers on some fragile teapots… Which is so lovely that I want one for myself! The ROI & sales rank are not even fantastic, by the way. So.. No excuse there. Sometimes, I supposed most of us simply take every opportunity that comes our way, even…

What you need to know about running An Amazon Business – The various business models

What you need to know about running An Amazon Business – The various business models

There are many ways to run your Amazon Business. As long you can buy low, sell high on Amazon with a good velocity of sales. Retail Arbitrage This is a common starting point for most people. Basically, you start by going into the stores, and start scanning items to find profitable inventory. This works really well if you are physically located in the US. Simply not feasible to send items from Singapore. Shipping is crazy! Online Arbitrage This works as a great starting point especially if you are located outside…

Attending a Private Label Workshop

Attending a Private Label Workshop

First off, Scott is amazing! If you are interested in Private Label, you have to listen to his podcasts and attend his live workshop. It’s all free! I usually download his podcasts into my phone and listen to them on the go 😉 Currently I’m only doing Online arbitrage. But definitely have plans to go into Private label. Check out his site here. Please follow and like us: