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Topic: Business License for consignment?  (Read 1910 times)
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Lia
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« on: June 06, 2004 10:41:04 PM »

Hello,

I am just curious to know if one needs a business license in order to consign at a local store? I've looked into the process of getting one in Canada, but it seems so big for what I am. I have my own business name, would I need to register it? Or do consigners usually not care about these things?
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knitoramamomma
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« Reply #1 on: June 07, 2004 06:40:57 AM »

I'm interested in an answer to this too!
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flyingfish
« Reply #2 on: June 07, 2004 08:42:01 AM »

i consign at roughly a dozen shops and never once has any of them asked for a business license. not that it means that you're not supposed to have one but i think it's better to just not worry about it unless you're brining in a lot (i'm not even sure what i would consider a lot) or the majority of your income.  i'm sure some will disagree but this is my option. 
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flyingfish
« Reply #3 on: June 09, 2004 07:19:02 PM »

if a store is soliciting for consignment you are in a great position to start. my advice on what to do/say is to set up an appointment for the buyer to check out your samples. be prepared to answer questions regarding wholesale prices and retail prices- make sure you don't undercut yourself because your excited to sell in a shop (i think a lot of people do this at first, i did).  have some sample photos to leave with them along with your business card (if you don't have one, just make up a sheet of em' at kinko's yourself) and if your bags are consistent with fabric options (not one of a kind's) leave fabric swatches with the price sheet. just be honest and professional- tell them you haven't sold consignment, sold some at craft fairs and gotten a positive response. always remember, if they aren't interested most likely someone else is. good luck.
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Flying Fish Design... ))    -:|:-
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rachelyra
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« Reply #4 on: November 12, 2004 12:26:15 PM »

I'm about to launch into consigning.

It's all very intimidating - my main fear right now is that years from now the taxman will come after me with a scythe.  How do i deal with my income from the shop?
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france and amber
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« Reply #5 on: December 09, 2004 11:31:39 PM »

I own a shop where most of the handmade I carry is on consignment. honestly, I don't ask for business lisence info. I've got all my IRS ducks in a row, that's because my business is my sole source of income so that means I've got to do it all by the book. the way I look at it is, for the consigner it's kinda like selling merch on ebay. do most ebay sellers report that income on their 1040? I doubt it. I'm all about getting the $ to my consigners, if it comes under the table, good on them. this does not help in any way as far as legal advice goes, but if a store asks for your info, my professional advice is... play dumb???  Undecided

by the way, miss flying fish, the customers so diig your matchboxes!
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believer10
« Reply #6 on: December 17, 2004 01:08:09 PM »

from what i know, if you plan to make it your business, you gotta get a license...it only costs like $75 in ontario.  it's better to start off with a license even if you arent making the required amount because you dont want to have problems later with your taxes if you didn't report this stuff before hand.  the easiest way is to just get a license and keep all your costs and profits for that totally seperate than your personnal/other jobs/life.  doing taxes will be sooo much easier then and you wont have to worry about getting screwed over 10 years from now for not documenting your sales now.
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LorettaYoungSkills
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« Reply #7 on: May 05, 2005 05:29:11 AM »

i think in Canada if you make less than $10,000.00 you dont need to register... gah, dont quote me on that. i should ask my dad, he knows more about this than i do, LOL
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rotten_Egg
« Reply #8 on: May 05, 2005 01:23:04 PM »

when i consigned, i just brought my items into the shop, signed a contract, and they put them up in the store.  however, i dont really like doing this because its not economical for me, my stuff got sold, but it was too expensive for my liking, i didnt make much profit either... about 7.50 per bag, because the store takes 50% of the sales, so im hoping to start up my own online businesss.

an example of 2 bags of mine:
bag cost $15 to make
store sold it for $45
they got $22.50
i got $22.50
and my profit was $7.50

thats how it worked, and i really feel it was more or less a waste of time. plus i dont feel comfortable having someone pay $45 for my bag when it only cost $15 to make.
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LorettaYoungSkills
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« Reply #9 on: May 06, 2005 06:30:43 AM »

i would definately not consign on a 50/50 % deal... 30/70 would be well worth your while
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