So for anyone else that has ever started a business I am hoping I am not the only person out there that has come into issues…
First what I knew:
- Businesses cost money. You have to have the money for the products and shipping containers – nothing is free!
- Selling is not easy. Unless you know your market, getting people to see your products can be difficult – especially if you do not have a physical store
- Most businesses require some form of social media or interactive shopping availablity.
- Should I get a P.O box? I can’t use my personal address on shipping labels. Just for the safety and security of my family!
What I didn’t know:
- I knew websites cost money, but some websites cost a lot of it! There are some website makers out there that cost money to maintain your website. You can create a free website, but if you want the ability to run a business where you collect payments from the site then you have to pay money to the web developers to basically allow you to do so. And I’ve seen the prices range from $3.99 to $299 a month…
- Taking credit card payments cost money. So I’m starting to understand why things cost so much in stores… so the cheapest one I found would charge me 2.9% per transaction PLUS $.20. These websites that do it all for you.. will allow you to set up a paypal business acct with no extra charges IF you also use their credit card options, but if you dont use their credit processing they will also charge you 3.4% plus $.20 per transaction.
- Then you have the sales taxes, filing for your tax-id, shipping costs…for both buy and seller, these little things go on and on…
Sooo… trying to figure out these small things is turning into a more difficult task than finding products. I want to provide for my family, but I also want to keep these items affordable for everyone and my costs to a minimum.
I always have the non-typical ways of selling. Like using other selling apps where theres no sales tax and the shipping labels are already set up for you, but then 10-15% of the sale goes to them…. which is more money than the website and credit card options. Or I could sell via email… have just basic free website or app, and have people email me, and I send them an invoice and they pay me via Venmo or PayPal. Thats a lot of work but cuts out all the middle men and additional charges that I could keep out of the product prices. If I don’t do credit card payments, then that’s charges I don’t have to pay plus its apr % fees the customer doesn’t have to pay on their monthly statement…as convenient as credit cards are… they also attribute to one of the top debt problems facing our country… decisions, decisions…!
Everyone has an opinion… whats yours?