In the leather industry, maintaining wholesale accounts with your suppliers is an absolute must. With just a little research, you can easily save 30-70% off of MSRP by simply submitting your business articles to your suppliers.
As all leather purchasers know, Tandy Leather publishes their retail prices and wholesale prices on their website. You do not need paid memberships to take advantage of the lowest offered prices. You simply need to set up an account with them. Be sure that this account is also tax exempt as the supplies you are purchasing are for resale.
Weaver Leather, Zack White Leather and Springfield Leather (just to name very few) all have wholesale sections on their websites. These sections are hidden from the public. Simply contact these suppliers to set up your account and get your mind blown with SAVING$!
All of these companies will require your tax IDs to set up your account.
While requirements vary from state to state, here is a list from wikiHow of things that may be necessary for you to have before beginning to buy and sell products:
• Local Business License: Typically, the city or county where you are operating your business will require that you have a local business license. Just call or visit your city hall to find out what the requirement is in your jurisdiction.
• Sales Tax License: If you live in a state that collects sales tax, you will most likely need this license. Having it will allow you to legally charge sales tax to customers purchasing your items. By calling your State Franchise Tax Board you can find out how to get this license.
• Federal License: This license really only applies to a very small portion of businesses that are selling products or services that are highly regulated by government agencies (i.e., if you are selling firearms or offering investment advice). If you think your business falls into that category, you can call your state government offices for more information. However, if your business is required to have this type of license, it may be best to hire an attorney to make sure you are complying with every law and have all the necessary licenses, permits and documentation.
• Seller's Permit (also referred to as a reseller's permit or sales tax permit): This permit is typically required for businesses that are purchasing wholesale products for resale. Usually your State Franchise Tax Board is the agency that grants this permit. You can also set up payment terms and arrange credit with your suppliers, so make sure to ask them what kind of options they can offer you.
While most of my vendors do offer credit accounts, I NEVER suggest opening lines of credit for your business.
Running your small business entirely DEBT FREE is most beneficial.
Texas state leather wedding favors in antique brown sunburst leather finish by Exsect Inc.
Exsect Inc. is a single maker operated leather company with over 4,300 sales on Etsy. Featuring specialty designs, exclusive leather finishes, reclaimed leather creations and industry standard deviations.
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