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Setting up Business?

by Ariyahn2011
14 replies
G'day guys,
I am 28, married, with a child looking for more financial independence. I just had this moment where I was sick of struggling with bills, rent, food and buying a home more and more out of reach.
Been reading over these forums for a couple weeks now and finally decided I should make an account so I could be more involved within the community.
Firstly, apologies if this is not the correct section to post this thread.
I just wanted to ask, do more people set up their business in Hong Kong from the start to avoid any headaches latter on? Secondly, I am from Australia, I am unsure if I even need to set up a company yet. I thought perhaps I would just find a wholesaler/manufancuter and have the product ready to go and test it on ebay and make a bit of money like that initially. Not sure if it is necessary to set up a business if I am doing that initially to gather some experience and deal with coys in China/or India for that matter.
I am not sure if I should go the drop-shipping route, or, the alternative of getting the delivery at home and sending it out to ensure shipping times/packing qualityness and chacater are upheld.
Overall, I am really excited to do something so I can be a better provider for my family.
Thanks in advance lads.
Respectfully,
Danny
#business #setting
  • Profile picture of the author laurencewins
    Hi Danny,

    I am in Melbourne and there are lots of Aussies here.
    What sort of business do you want to set up?
    Why do you want to do it in Hong Kong?

    More info can help us help you better.
    Signature

    Cheers, Laurence.
    Writer/Editor/Proofreader.

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  • Profile picture of the author Ariyahn2011
    Gday Laurence,
    Cheers for the response mate.
    I am also from Melbourne .
    I am definitely thinking along the lines of some kind of e-commerce business to avoid overheads and large initial investments. For example, an online store, with my own branding on the product and then work on the marketing from there on as I gather experience. The alternative idea was to buy ready made products from overseas and sell them on ebay/amazon to gather experience. I was confused as to whether to go down the drop-shipping route or to get the products and then sell them (seems to be different opinions on warrior forum from the reading I have done). I have bought things from overseas, and to be honest, it can be quite frusrating waiting for weeks. For example, I recently bought an SK-II skin product from Hong Kong, and it has been 3 weeks. I doubt I will buy from them again (that is just me anyway).
    Regarding Hong kong, I was of the thought that it was cheaper to set it up a coy in Hong Kong. A friend has done very well, however he does keep quite a lot of the information to himself. Might be competitiveness which I suppose is quite natural. I read there are some good advantages of setting up a business in HK, but perhaps that is for multi national coys with massive incomes? I had a look online, and it seems a soletrader/partnership would be the best route to take perhaps?
    Thanks again.
    PS lovely day in Melbourne today isnt it !
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  • Profile picture of the author laurencewins
    I work as a writer/proofreader/editor so I just work with an ABN.

    You would be better off talking to Aussies who understand the pros and cons of setting up a company if that is your intention. Then analyse whether it's best in Australia or overseas.

    Yes, a typical winter Melbourne day. I am comfy inside so I don't need heavy clothing today.

    Also a quick tip when posting, don't write one giant slab of text. Break it up so it's easier to read and you'll certainly get more people reading as a result.

    Good luck with your endeavours.
    Signature

    Cheers, Laurence.
    Writer/Editor/Proofreader.

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    • Profile picture of the author Ariyahn2011
      No worries.

      I will make use of paragraphs. I am sure as a writer, it makes you cringe when you see bad writing lol.

      Thankyou. Looking forward to it.
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  • Profile picture of the author laurencewins
    Yes, it does make me cringe BUT only when people don't think my advice is good. They think I am attacking them when I am merely trying to help.
    Anyway, it's lunch time and a rest now.
    Signature

    Cheers, Laurence.
    Writer/Editor/Proofreader.

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  • Profile picture of the author mikeink
    Ariyahn2011 Welcome to the forum.

    As Laurencewins said, it does make it easier to read.
    Signature

    Well let me see. OH yea need to start work on my ???????? again.
    Been working for slave wages to long.

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  • Profile picture of the author Jack107
    Good to see some Australian's out in force. Weather isn't too much better over here in Adelaide. Good luck with setting it up. As laurencewins said I just trade using my ABN.

    If you start pulling in big $$ you'll have to eventually apply for GST which requires you to submit I think quarterly BAS statement.
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    • Profile picture of the author Ariyahn2011
      Thanks mate.

      I spoke to my friend who is an accountant.

      He mentioned a partnership is easy to set up with ABN. Can do it within a day. So might opt for that.

      Looking forward to the journey.

      Thanks for the encouragement lads.
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  • Profile picture of the author talfighel
    Danny,

    Welcome to the forum buddy, or should I say Mate.

    I am 100% sure that there are real people who are doing what you want to do as a business who can teach you what they are doing to succeed with ebay and drop shipping.

    What ever you do decide to do, just know that if they are succeeding, so can you.

    Will you have challenges and setbacks? Sure you will but if you are really committed to doing what ever it takes to succeed, you will do just fine.

    Since you are thinking about being in business for yourself, some people in your family and friends will laugh at you and tell you that you should stick with a job and that you will fail. Don't ever listen to them and never take their advice. If you can find a good mentor who is doing really well, then take their advice.

    People will try to steal your dream of being able to provide a better life for you and your family. Never allow them too. You can succeed.
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    • Profile picture of the author Jack107
      Originally Posted by talfighel View Post

      Danny,

      Welcome to the forum buddy, or should I say Mate.

      I am 100% sure that there are real people who are doing what you want to do as a business who can teach you what they are doing to succeed with ebay and drop shipping.

      What ever you do decide to do, just know that if they are succeeding, so can you.

      Will you have challenges and setbacks? Sure you will but if you are really committed to doing what ever it takes to succeed, you will do just fine.

      Since you are thinking about being in business for yourself, some people in your family and friends will laugh at you and tell you that you should stick with a job and that you will fail. Don't ever listen to them and never take their advice. If you can find a good mentor who is doing really well, then take their advice.

      People will try to steal your dream of being able to provide a better life for you and your family. Never allow them too. You can succeed.
      Well put, I know only too well about people trying to hold you back. Telling you you can't do it.

      I have stopped studying at uni to focus on my business full time, and a lot of family and friends thought I was stupid.

      At the end of the day the best thing to do is knuckle down and prove them all wrong!
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    • Profile picture of the author Ariyahn2011
      Originally Posted by talfighel View Post

      Danny,

      Welcome to the forum buddy, or should I say Mate.

      I am 100% sure that there are real people who are doing what you want to do as a business who can teach you what they are doing to succeed with ebay and drop shipping.

      What ever you do decide to do, just know that if they are succeeding, so can you.

      Will you have challenges and setbacks? Sure you will but if you are really committed to doing what ever it takes to succeed, you will do just fine.

      Since you are thinking about being in business for yourself, some people in your family and friends will laugh at you and tell you that you should stick with a job and that you will fail. Don't ever listen to them and never take their advice. If you can find a good mentor who is doing really well, then take their advice.

      People will try to steal your dream of being able to provide a better life for you and your family. Never allow them too. You can succeed.
      Hello mate, thankyou for the kind words. I most certainly will not give up.

      As mentioned, I dont have a lot of friends who done well in terms of business. I have one in particular, however, he is quite competitive and likes to keep his experience and sources somewhat secretive.

      I have purchased the PAC course (which hopefully will help) and still trying to work out how to get access to the course importexportexpert adovcates for.

      Looking forward to the education.

      And thanks again!

      Cheers

      Regards,
      Danny
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  • Profile picture of the author writeaway
    You might want to spend some time looking for SUB-NICHES

    Ecommerce is fast evolving to a very ATOMIZED and particular model

    The more finely-grained your market focus, the higher the likelihood your venture will succeed
    Signature
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    • Profile picture of the author Ariyahn2011
      Originally Posted by writeaway View Post

      You might want to spend some time looking for SUB-NICHES

      Ecommerce is fast evolving to a very ATOMIZED and particular model

      The more finely-grained your market focus, the higher the likelihood your venture will succeed
      G'day mate,
      when you say SUB-NICHES, do you mean to say products that certain groups like?

      For example, alternative groups like may alternative fashion? Is that what you mean? Rather than focus on a generic product that appeals to all, one should focus on providing something for a particular social community?

      Thanks in advance.
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