Self employed Wholesaler/Reseller
I created my own business in November 2013, which has became successful and has now triumphed through it's first year of trading, with a turnover of around £60,000. Selling primarily on the website I created and eBay, I created my business due to finding a gap in the market, I trailed a small quantity of £200 worth of products which sold well and created a substantial profit, which have reinvested again and again creating a business with around £60,000 turnover in it's first year. This business venture won me the Minerva prize for enterprise 2014.The business has given me a wealth of experience such as:
- Communicating with suppliers, often from foreign countries who speak different languages. For example I buy from Deng Weibing, a supplier of military equipment based in Liaoning Province, China.
- Negotiating prices with suppliers as well as wholesale customers.
- Paying Import Tax and Import VAT.
- Keeping up to date accounts.
- Using advertising to acquire potential buyers, such as Google adwords, Facebook, forums, advertisement banners and online reviews of products.
- Self taught using Microsoft Excel to work out profit, profit percentage, retail price, price lists and ordering items.
- Using website building software to build a unique website.
- Running a Facebook page now with over 2600 likes and rising.
- Keeping an inventory of all items, now over 1600 items.
- Market research.
- Creating and designing a brochure, containing all essential information with contact details, the return process, competitions, links and a coupon code.
- Dealing with unhappy customers in a polite manner, with customer service in mind.
- Assisting customers with returning a faulty/unwanted item.
- Creating a wholesale presence, which now supplies over 28 wholesale businesses from Europe, North America and Brazil.
- Creating a drop shipping presence, which now supplies over 14 businesses.
- Communicating with buyers and providing excellent customer service.
- Sourcing new products from all over the world and finding the best price.
- Using invoice software to provide to wholesale customers.
- Buying storage shelf's and boxes as well as packaging for items.
- Packaging, labelling and sending over 3000 items in the first year.
- Taking stock photos for the items on the website.