02-22-2003, 08:14 AM #1
How To Set Up An Online Supplement Company
Down the line in a few years, an online supplement company is something that, if I find profitable, is something I may try to carry out.
Typically, it would be UK only, that way it would attract a lot more UK customers that would usually get supplements shipped from the US which come with a very hefty customs bill.
All I can draw up right now is that buying in bulk would be the main portion to make any profit.
I hope whomever is behind All Sports Nutrition could fill some of this in.
Do you buy in bulk directly from the companies, say Muscletech? From what I can see, their is no discount available ordering from their site some sort of deal must be made?
What's the legal attributes that come with it?
How does the shipping work?
That's all I have for now, if anyone can fill these in, please do so.
02-22-2003, 08:00 PM #2
It's amazing how far down the board this post went in a day
02-22-2003, 08:11 PM #3
I saw a company once that would make bars based on igredients and macronutrients you specify. You would create the wrapper and sell them... like, the AR Bar!
02-22-2003, 08:22 PM #4Anabolic Member
- Join Date
- Sep 2002
Hmm.... Sounds like a cool idea...
Not sure exactly how it works in the UK, but in the US, you need to clasified as a legal business. Go to the courthouse, pay your $100 and you're now a business (S Corporation?). This should give a tax number which should enable you to buy from other companies that only sell to businesses (wholesalers). In addition, depending on how big you are, you should be able to buy directly from the manufacturers (EAS, Mescletech, etc). You are also responsible for paying any sales tax on the products you sell.
Did this make any sense, or am I just talking out of my ass?
02-22-2003, 08:24 PM #5
I believe Limited Liability (LLC) are the way to go lately for small to mid size business - outside a sole proprietorship.
02-24-2003, 06:12 PM #6
Thanks. Anyone know any UK online supplement distubiters I could get in contact with?
02-25-2003, 10:58 PM #7Associate Member
- Join Date
- Nov 2002
go to www.mycorporation.com - I have used them before they will do incorps - S-corps and LLC's. I think they are in Cali. It doesn't matter - they do all the paper work with your state - send you stock certificates and all that jazz so you can hold stock meetings - with yourself if you own it 100%. Just talk to a CPA if it even gets going a little - you can save 5-30% in taxes if you are smart! Good luck
03-01-2003, 03:35 PM #8
That my corporation thing wont work outside the US.
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