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Reselling
Hello, I am wanting to know if I can buy products at places like Ollie’s, Goodwill, and other stores like this, then resell on EBay!
I live in Georgia and it would only be me as the only person running the reselling. Would I have to go through any legal documentation or anything if so please advise me how to proceed with that! Thanks again and I hope to hear from one of yall soon!
3 comments
mr_lincoln
Mentor11 months agoHi @ethan1588
You can acquire your inventory for resale on eBay from pretty much any source. Just make sure you research what you want to sell so you acquire it at a price that you can resell for a profit.
Here are some helpful pages on getting started with eBay:
Creating an eBay account | eBay
Getting paid for items you've sold | eBay (the name on your eBay account and the name on your bank account have to match perfectly to set up Managed Payments and receive Payouts for the items you sell
Payments on hold | eBay
Selling fees | eBay
Creating a listing | eBay
ethan1588
OP11 months agoSounds good, some people told me I’m required to get sales tax permit and register as a business. Would this be true/required or is it recommended.
mr_lincoln
Mentor11 months ago@ethan1588
Not true, you can set your account up as a personal account, mine has been that way for the 10 years I have been selling.
You can obtain a state tax ID if you want, our state (PA) lets individuals obtain those so they can purchase items for resale and not pay sales tax on them. You should check your state's tax ID on the state's government website. For me it means 6% savings on inventory purchases BUT I have to give every place I purchase from the Tax ID information. You will also be required to report your sales to the state on whatever frequency they require. Mine bounces around between quarterly and bi-annually based on my sales volume. eBay has reports that can be generated to obtain accurate sales totals for reporting purposes.