Recent content by BlackMagicX

  1. BlackMagicX

    Purchase ECommerce business

    Shopify Exchange
  2. BlackMagicX

    Should I expand my business?

    Thanks for your reply, Of course, I'd expect a 'business' to sell for more and involve a longer sale process, however, there is a market for more passive income out there, and I could argue that me owning 4 or 5 'part-time businesses' actually makes the operation more valuable than one 'real...
  3. BlackMagicX

    Real Cost of starting own clothing line

    Facebook Ads will cost a lot more than you think. I'd expect to be spending between 2k and 5k a month minimum. Especially with a new pixel. If you're not a great Facebook Marketer, then double. You also need to consider your own time, postage, packaging, returns. I mean, you should be selling...
  4. BlackMagicX

    Should I expand my business?

    Last time I posted on here it was to get validation for my business idea, which is now a year old. At the moment the business generates £6k to £7k a month in revenue (on average), although this fluctuates depending on the time of year. I dropship 99% of my products and occasionally buy and sell...
  5. BlackMagicX

    Drawing a salary from 2 separate limited companies

    Hi, I believe £988 is the amount you can earn without being in the basic tax bracket (tax-free basically), but what if that amount was drawn from two separate entities? Would it be seen as one income? Logic says yes, but i have been unable to find a clear answer yet.
  6. BlackMagicX

    Drawing a salary from 2 separate limited companies

    Hi, I would like to get straight to the point with this. Is it possible to withdraw two separate salaries from two separate limited companies under the tax threshold of £988pm 2018/19? Or would the tax man consider it as a total income and tax you as normal?
  7. BlackMagicX

    The rise in Chinese import costs

    No, I haven't been, but I'm eager to go to develop a variation of product and get a load of spares for cheaper. The only thing stopping me is money. I have been studying the game daily for years now, it's just that the 'day job' and kids gets in the way lol.
  8. BlackMagicX

    The rise in Chinese import costs

    Yes that's correct. The costs of raw materials has increased, so for certain products the manufacturers have passed the cost onto the importers and distributors, who in turn have passed the cost on to the retailers, who then have to pass it on to the customer. Either that, or the importers go...
  9. BlackMagicX

    Import/VAT Bill seems high

    Of course, but you'd have to do this anyway eventually? A turnover of 82k a year won't take long to hit if you're a good business.
  10. BlackMagicX

    Import/VAT Bill seems high

    I'm guessing that an important asset of importing is being VAT registered. You could then claim that money back.
  11. BlackMagicX

    The rise in Chinese import costs

    Gambia seems like an up and coming country in Africa, but by no means has the manufacturing infrastructure China has. Wouldn't it be sensible for now to suggest the middle east and other Asian countries as suitable alternatives to China? What about countries like Cambodia or India? There is...
  12. BlackMagicX

    The rise in Chinese import costs

    That makes sense, however, if I am looking to source and import from Africa, will it be possible in certain industries e.g Automotive? I understand that large companies are moving their manufacturing to Africa, but these manufacturers also have the money to distribute as well. In turn, I can...
  13. BlackMagicX

    The rise in Chinese import costs

    What makes you say that? Other than the fact that China own Africa? lol
  14. BlackMagicX

    The rise in Chinese import costs

    Hi, So recently I've noticed a sharp increase in distribution costs across the UK from Chinese manufactured products. The trend doesn't seem to be slowing down since the announcement of Brexit, the weak pound, the rising Chinese wages and the increase in material costs. As a result, it seems as...
  15. BlackMagicX

    How much do you realistically need to be turning over to operate a high street store

    There lies the dilemma. Do I become a showroom, away from the high street with reduced costs to convert my online inquiries. Or do I become a high street store and potentially attract new customers because of increased footfall? The latter will require less marketing, and our products are a...
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