Forums: Discussions for entrepreneurs and small business.

In the process of starting my business, I am making prototypes to photograph and show. As of now I have no tax i.d. and thus am having problems getting price info from wholesalers (my product uses items made [some licensed] by other companies). Operating as a 'sole proprietor' how can I get the items I need wholesale. Or is there a better way to keep things simple? My wife (an accountant) is keeping up with costs so we will know what to charge and wants (as least) to know the wholesale price of the items we will be buying. By the way, Thanks Guys, in advance, for buying my product.

One thing i would do is possibly change the photo in your profile. Seeing a photo of a possible business contact/vendor/sustomer holding what appears to be a bottle of beer doesn't inspire a lot of confidence that the person is serious.

It is a bottle of beer.

Only those who know you best, know the full extent of your extracarricular habits.  A toast may be in order, but misconstrued or imperceived by others.  You make the call...

Sounds like you may need to get your tax ID number. Otherwise, ask one of the retailers you are currently buying from, what your wholesale cost would be when you are established as a business. You will be a future client or distributor and if you already are, you are currently establishing a payment record with them in buying materials for prototypes.

I am also buying everything at retail to make my own prototypes and products. For the most part though- retail is around double to more of the wholesale costs on a lot of things. That is what I have noticed as the norm for my industry. Results may vary as usual.

You'll need an EIN number.  You'll also need a reseller number.  Without a reseller's number you won't be able to buy wholesale.

If you are serious about reselling, you simply need a tax id. It's not so hard to get and it saves you a lot of trouble like that.

You can operate as a DBA (doing business as). Then get an EAN for your DBA.

I recommend your local SCORE and/or Small Business Association (SBA) for assistance.  Both are free. They can guide you. Getting a DBA is less than $20 inmost cities. The EAN is free. You just need to record and report your sales quarterly.

Good luck!

I would advise you change your photograph. Besides that you should have an EIN and reseller number.