Bulk buying frames + groupsets

[Andrew_P]

Yes I've looked on there, it's very interesting. Wonder if anyone has any experience importing through alibaba?

As for the others, I hardly think it's worth considering tax implications or even a company name before even checking whether there are frames out there available to buy. One thing at a time

In all seriousness importing products from China is ok on an individual basis as you determine your own risk, importing for re-sale you really should have some sort of public and product liability insurance one serious or even not so serious claim could make you bankrupt. In a court of law you will be held responsible.

 

[PhilDawson8270]

Yes I've looked on there, it's very interesting. Wonder if anyone has any experience importing through alibaba?

yes, like ebay. It's seller dependent. You have the ability to talk to the seller directly before purchase.

 

[Hacienda71]

I must be on ignore. I am out of this thread.

 

[Smokin Joe]

Seems judging by the comments upthread that you haven't considered the tax implications. There has also been some slightly misleading information given.

To clarify: If you were doing this as a small business you would have to register as a sole trader and would have to keep a full and detailed record of your accounts. Tax is paid on the profit you make (income and turnover are not the same thing) but there is a threshold below which you don't pay any tax anyway.

If you are already over the tax threshold on income from another job then even a £1 profit on income from a second source will be taxable. I have two incomes (Both self employed) but the tax threshold only applies once.

 

[Citius]

I'm just after some frames, anyone know of any? If I want advice on running the business I'll ask my dad whose a former director of finance at several large companies on what to do rather than listen to hearsay on a bike forum, thanks all the same though. If I want advice on selling the bikes I'll ask my best mate who has won multiple industry awards for digital marketing.

Perhaps you should have asked your dad and your mate first then. They will have told you the same stuff. You've already been given sources for frames, but you seem to have ignored them.

(ex MD of £5m t/o multi-channel tech marketing company, BTW - but you don't want to know that.)

 

[PhilDawson8270]

If you are already over the tax threshold on income from another job then even a £1 profit on income from a second source will be taxable. I have two incomes (Both self employed) but the tax threshold only applies once.

£10 000 from job + £1000 from another, is obviously £11 000 income for income tax purposes.

As a sole trader, if you have £10000 from your employment, and through your sole trader self employment, lose £7000. Your income for tax purposes would be £3000.

When doing your self assessment, you add your income together, or subtract your loss from your PAYE earnings (if applicable), if you make a loss on being a sole trader.

You're taxed as an individual, on your total "profit", with all income streams added together.

 

[Mobytek]

well wahtever you end up doing, I hope that that groupsets you get are not Sora as you've already established that you don't know the parts on that set......

https://www.cyclechat.net/threads/name-that-part.186637/#post-3878889

 

[midlife]

Somebody has already mentioned Hong Fu ......

Shaun

 

[Drago]

You mean Henry, the mild mannered janitor?

 

[timbono5]

In all seriousness importing products from China is ok on an individual basis as you determine your own risk, importing for re-sale you really should have some sort of public and product liability insurance one serious or even not so serious claim could make you bankrupt. In a court of law you will be held responsible.

Liability insurance is definitely something I'd go with. Been talking with a few suppliers and I can get samples sent first so that is no doubt best bet. Was hoping someone on here would know someone/somewhere specific I could get solid frames cheaply but so far no luck.

 

[midlife]

Don't fancy Hong Fu then I guess

Shaun

 

[PhilDawson8270]

Liability insurance is definitely something I'd go with. Been talking with a few suppliers and I can get samples sent first so that is no doubt best bet. Was hoping someone on here would know someone/somewhere specific I could get solid frames cheaply but so far no luck.

What will happen with Chinese suppliers is that they will send you very good samples, then send whatever they have after when you start placing orders.

 

[screenman]

If you have a dream go for it, too many people are way too negative.

Public liability is often not very expensive, mine is a shade over £200pa and that is for motor trade work and training.

 

[screenman]

What will happen with Chinese suppliers is that they will send you very good samples, then send whatever they have after when you start placing orders.

Have you had that happen to you, I am interested in adding a few items to what I sell and was looking along the lines of purchasing away.

 

[timbono5]

What will happen with Chinese suppliers is that they will send you very good samples, then send whatever they have after when you start placing orders.

Yep, it is a worry! I guess you just have to take a risk sometimes!

If you have a dream go for it, too many people are way too negative.

Public liability is often not very expensive, mine is a shade over £200pa and that is for motor trade work and training.

Good to see some people on here can be optimistic! What's the worse that can happen? Lose a few quid I would of wasted on the latest cycling fad anyway!