Online coral vendors, how do you do it?

BRS

Boxofpurplerocks

Active Member
Review score
+0 /0 /-0
View Badges
Joined
Apr 1, 2019
Messages
272
Reaction score
271
Review score
+0 /0 /-0
For all of you out there who run an online coral shop… i.e. who have a website that you sell coral off of, wondering how you handle the business side of things. Do you have an actual business set up? An LLC? Business license and tax id and all that? Or do you just simply sell coral out of your tanks/propagation tanks as orders come in? As more and more online sellers pop up, im curious as to how the actual business aspect works. Seems like there would be a lot of overhead/legal/tax details running a registered business, vs. just setting up a Shopify site or similar and selling your corals which seems like what a lot do around here. Any insight is would be welcome!
 
AS

Labridaedicted

Wrassetastic
Review score
+0 /0 /-0
View Badges
Joined
Jul 22, 2016
Messages
1,532
Reaction score
2,115
Review score
+0 /0 /-0
Location
North Jersey
Most wholesalers will require you to have an LLC at minimum (there are some who only deal with brick and mortars).

If you're just selling out of your own small personal collection, you're fine without one. If you start keeping a bunch specifically to sell and something happens an LLC is to protect your assets.

Also, registering for a business will keep you out of trouble with the IRS if you start selling alot.
 
OP
Boxofpurplerocks

Boxofpurplerocks

Active Member
Review score
+0 /0 /-0
View Badges
Joined
Apr 1, 2019
Messages
272
Reaction score
271
Review score
+0 /0 /-0
Most wholesalers will require you to have an LLC at minimum (there are some who only deal with brick and mortars).

If you're just selling out of your own small personal collection, you're fine without one. If you start keeping a bunch specifically to sell and something happens an LLC is to protect your assets.

Also, registering for a business will keep you out of trouble with the IRS if you start selling alot.
Makes sense. Curious if a lot of the sellers out there are operating under an LLC and a registered business or not. A lot of online shops I see seem like “garage sellers” and makes me wonder just how legitimate of a business it is.
 
BRS

How close to perfect, for you, is your reef aquarium?

  • IT'S PERFECT NOW

    Votes: 8 3.4%
  • It's getting close

    Votes: 34 14.5%
  • It's about half way there

    Votes: 45 19.2%
  • It's slow but progressing

    Votes: 71 30.3%
  • It's not even close

    Votes: 69 29.5%
  • Other (please explain)

    Votes: 7 3.0%
Top