Creating a new UK online silver store, need input.

[klacey]

Nice site,,,, i have created an account on your web site.
are you going to sell some s.b.s.s. coins, will place an order with you soon so good luck on your web site and may your sales be many
regards..

Many thanks scotland I really appreciate that. I will be getting many sbss coins yes, which exactly would you be interested in. I can get some added to my next bulk buy?

 

[the optimist]

Just be careful with the free delivery idea you have, as if someone pays with PayPal or credit card they only have to say the item was not received ( if not been signed for ) and the purchase will be refunded.

Regardles Of your company policy about being at your own risk.

It's consumer law you have more rights when buying on-line than in person (distance selling regulations)

 

[klacey]

Just be careful with the free delivery idea you have, as if someone pays with PayPal or credit card they only have to say the item was not received ( if not been signed for ) and the purchase will be refunded.

Regardles Of your company policy about being at your own risk.

It's consumer law you have more rights when buying on-line than in person (distance selling regulations)

This is very true, the free delivery will be signed for delivery. I will keep a record of all tracking codes etc. If the item gets signed for I will know about it. If I have a few issues with this I will just take it down or offer to trusted customers.

 

[Lenny7888]

Ok I think I found out why it appears down. Try this http://silverbullbullion.co.uk/Silverbull

That's it working now. Nice site easy to navigate good looking start m8 let me know when you get morgan Anne and zombuff up on there.

Oh good, glad thats sorted. Will do, I have alot of work still to do with the site, but its not looking to bad. Morgans are going through customs right now, hopefully see them by weeks end. Im going to add capsules, gloves, scales etc too in the oming weeks/months. Have you tried creating an account, if not can you. Just to make sure thats all good. Cheers Lenny.

Sites looking better now seen you put the logo with grab the bull by the horns looks good m8. Made an account a minute ago all worked fine just wait till you get zombucks up and il order couple plus a Pegasus most likely so all the best with it

 

[bring-the-silver]

Nice job setting up a woocommerce mate, looks good

We need a few more dealers in the UK and it's good to see you're not just doing the standard run of the mill coins.

I am a web developer so if you need any help with any of the config let me know, looks like you've got it under control though


Good luck with sales, I have a feeling you'll do quite well

 

[klacey]

That's it working now. Nice site easy to navigate good looking start m8 let me know when you get morgan Anne and zombuff up on there.

Oh good, glad thats sorted. Will do, I have alot of work still to do with the site, but its not looking to bad. Morgans are going through customs right now, hopefully see them by weeks end. Im going to add capsules, gloves, scales etc too in the oming weeks/months. Have you tried creating an account, if not can you. Just to make sure thats all good. Cheers Lenny.

Sites looking better now seen you put the logo with grab the bull by the horns looks good m8. Made an account a minute ago all worked fine just wait till you get zombucks up and il order couple plus a Pegasus most likely so all the best with it

Thanks Lenny, yeah I quite like how its progressing. Not to shabby for a first timer. My order for Morgan anne and Pegasus are nowing in the customs charge stage. Im hoping it will be quick from now mate.

 

[klacey]

Nice job setting up a woocommerce mate, looks good

We need a few more dealers in the UK and it's good to see you're not just doing the standard run of the mill coins.

I am a web developer so if you need any help with any of the config let me know, looks like you've got it under control though


Good luck with sales, I have a feeling you'll do quite well

Thank you bring-the-silver, I really appreciate that. I love woocommerce, what a great piece of software. Time will tell how well I do, but support and feedback has been awesome. I'm enjoying this new experience and learning a great deal as I go.

 

[Lenny7888]

Oh good, glad thats sorted. Will do, I have alot of work still to do with the site, but its not looking to bad. Morgans are going through customs right now, hopefully see them by weeks end. Im going to add capsules, gloves, scales etc too in the oming weeks/months. Have you tried creating an account, if not can you. Just to make sure thats all good. Cheers Lenny.

Sites looking better now seen you put the logo with grab the bull by the horns looks good m8. Made an account a minute ago all worked fine just wait till you get zombucks up and il order couple plus a Pegasus most likely so all the best with it

Thanks Lenny, yeah I quite like how its progressing. Not to shabby for a first timer. My order for Morgan anne and Pegasus are nowing in the customs charge stage. Im hoping it will be quick from now mate.

Bloody customs lol sure they will be in stock soon

 

[klacey]

Sites looking better now seen you put the logo with grab the bull by the horns looks good m8. Made an account a minute ago all worked fine just wait till you get zombucks up and il order couple plus a Pegasus most likely so all the best with it

Thanks Lenny, yeah I quite like how its progressing. Not to shabby for a first timer. My order for Morgan anne and Pegasus are nowing in the customs charge stage. Im hoping it will be quick from now mate.

Bloody customs lol sure they will be in stock soon

Tell me about it, its my first order from outside of the UK. So I guess I will have to get used to waiting and work on away to keep things stocked up.

 

[Lenny7888]

Thanks Lenny, yeah I quite like how its progressing. Not to shabby for a first timer. My order for Morgan anne and Pegasus are nowing in the customs charge stage. Im hoping it will be quick from now mate.

Bloody customs lol sure they will be in stock soon

Tell me about it, its my first order from outside of the UK. So I guess I will have to get used to waiting and work on away to keep things stocked up.

Yes I have only had personal items I have ordered from all over the world they took time so can only imagine a big order taking even more time.

 

[klacey]

Bloody customs lol sure they will be in stock soon

Tell me about it, its my first order from outside of the UK. So I guess I will have to get used to waiting and work on away to keep things stocked up.

Yes I have only had personal items I have ordered from all over the world they took time so can only imagine a big order taking even more time.

Hopefully not to much time. Anyway Zombucks are showing on site now, but not to order. I will be ordering walkers and buffs sometime this week. I might get a few Game of Drones too, they look very nice.

 

[Lenny7888]

Tell me about it, its my first order from outside of the UK. So I guess I will have to get used to waiting and work on away to keep things stocked up.

Yes I have only had personal items I have ordered from all over the world they took time so can only imagine a big order taking even more time.

Hopefully not to much time. Anyway Zombucks are showing on site now, but not to order. I will be ordering walkers and buffs sometime this week. I might get a few Game of Drones too, they look very nice.

Yer lol Can I ask how much the zombucks are per coin?

 

[klacey]

Yes I have only had personal items I have ordered from all over the world they took time so can only imagine a big order taking even more time.

Hopefully not to much time. Anyway Zombucks are showing on site now, but not to order. I will be ordering walkers and buffs sometime this week. I might get a few Game of Drones too, they look very nice.

Yer lol Can I ask how much the zombucks are per coin?

All depends on the hit I get going through customs, I have a fixed % of profit. So as soon as I know I will let you know.

 

[klacey]

For those interested, I should be getting Zombucks Morgue Anne, Zombucks Walkers and Pegasus end of the week. Should be 10 of each, so limited supply. Oh also 10 Canadian Wood Bison

 

[Lenny7888]

For those interested, I should be getting Zombucks Morgue Anne, Zombucks Walkers and Pegasus end of the week. Should be 10 of each, so limited supply. Oh also 10 Canadian Wood Bison

Just placed an order am I your first customer I did encounter a problem with login to paypal but I just used the pay with card via paypal in the end as couldn't get logged in was going to use free post but went for flat rate in end better safe and all that.

 

[klacey]

For those interested, I should be getting Zombucks Morgue Anne, Zombucks Walkers and Pegasus end of the week. Should be 10 of each, so limited supply. Oh also 10 Canadian Wood Bison

Just placed an order am I your first customer I did encounter a problem with login to paypal but I just used the pay with card via paypal in the end as couldn't get logged in was going to use free post but went for flat rate in end better safe and all that.

Hey Lenny many thanks buddy. You are indeed my first. I will look into the paypal issue, I dont want that to start ausing people problems.

 

[TreasureHunter]

If you can manage to offer competitive prices on silver - when compared to other UK sellers, then you will have a lot to gain!

You need to set up a major competitive advantage... But as I know there is a high VAT on silver in the UK...

 

[klacey]

If you can manage to offer competitive prices on silver - when compared to other UK sellers, then you will have a lot to gain!

You need to set up a major competitive advantage... But as I know there is a high VAT on silver in the UK...

Thanks Treasure, I started posting business cards linking my website to all coins I sell on ebay. Im using that to bring in new customers. The fact they are willing to buy at ebay prices, this will be a nice saving for them and good business for me. VAT is a killer, but im going to a free consultation with local accountants about getting VAT registered and find best options for me.

 

[Photonaware]

If you can manage to offer competitive prices on silver - when compared to other UK sellers, then you will have a lot to gain!

You need to set up a major competitive advantage... But as I know there is a high VAT on silver in the UK...

Thanks Treasure, I started posting business cards linking my website to all coins I sell on ebay. Im using that to bring in new customers. The fact they are willing to buy at ebay prices, this will be a nice saving for them and good business for me. VAT is a killer, but im going to a free consultation with local accountants about getting VAT registered and find best options for me.

If you get VAT registered then you will need to issue VAT invoices to all your customers for every sale.
You will however be able to off-set the VAT you are charged.
Every period you will have records showing how much VAT you have paid and how much VAT you have charged.
You will be asked to pay the difference to HMRC and you will also have to keep very good records as the VATman will at some stage enjoy rifling through all your paperwork to uncover an error.
This is how I believe it will work - please correct me if I am wrong.

Example not VAT registered.
You buy a coin from a dealer who invoices you 20 plus VAT at 20% so you hand over 24 cash.
You sell this coin for 30 on eBay or in your store.
Your gain ( excluding PayPal, eBay fees etc ) is therefore 6

Same sale but VAT registered
You pay 20 for the coin plus 4 VAT but you still hand over 24
You sell for 30 but issue an invoice for 25 plus 5 VAT
Your profit is now 5 ( 25 - 20 ) and you owe the Vatman 1 ( 5 output tax - 4 input tax )
Your actual profit therefore is 4

This would suggest VAT registered is less profitable unless you can recover VAT on other business expenses like computers etc.

 

[klacey]

If you can manage to offer competitive prices on silver - when compared to other UK sellers, then you will have a lot to gain!

You need to set up a major competitive advantage... But as I know there is a high VAT on silver in the UK...

Thanks Treasure, I started posting business cards linking my website to all coins I sell on ebay. Im using that to bring in new customers. The fact they are willing to buy at ebay prices, this will be a nice saving for them and good business for me. VAT is a killer, but im going to a free consultation with local accountants about getting VAT registered and find best options for me.

If you get VAT registered then you will need to issue VAT invoices to all your customers for every sale.
You will however be able to off-set the VAT you are charged.
Every period you will have records showing how much VAT you have paid and how much VAT you have charged.
You will be asked to pay the difference to HMRC and you will also have to keep very good records as the VATman will at some stage enjoy rifling through all your paperwork to uncover an error.
This is how I believe it will work - please correct me if I am wrong.

Example not VAT registered.
You buy a coin from a dealer who invoices you 20 plus VAT at 20% so you hand over 24 cash.
You sell this coin for 30 on eBay or in your store.
Your gain ( excluding PayPal, eBay fees etc ) is therefore 6

Same sale but VAT registered
You pay 20 for the coin plus 4 VAT but you still hand over 24
You sell for 30 but issue an invoice for 25 plus 5 VAT
Your profit is now 5 ( 25 - 20 ) and you owe the Vatman 1 ( 5 output tax - 4 input tax )
Your actual profit therefore is 4

This would suggest VAT registered is less profitable unless you can recover VAT on other business expenses like computers etc.

Hi Photon, this is why I need to speak to accountant. I doubt I will hit the 79k rolling turnover cap, so Is it worth staying away from VAT registration.