Questions to ask yourself before becoming a digital reseller (on vinted, ebay, etsy...)?

Questions to ask yourself before becoming a digital reseller (on vinted, ebay, etsy...)?

The world of reselling is expanding considerably and this is not by chance. Internet sellers are making money with complete peace of mind. However, before embarking on this type of activity, it is important to ask yourself certain questions. The answers to these questions are essential for achieving good sales. Find out here what questions you should ask yourself before becoming a digital reseller.

Do I have to declare my sales to the taxa authorities?

Revenues from Internet sales must be declared. You must therefore declare all income generated by sales during the year. This is required if you are a professional selling clothes through a platform.

Sales platforms such as Vinted are required to provide a summary of all product sales. For several years now, Vinted has therefore communicated the number of sales made during the year, the total revenue and the identity of the sellers.

As you can see, it is essential to declare the capital gain if you do not sell occasionally and if you are a professional.

What company status do I need to choose?

There are some differences between a company and a freelance status. These include the formalities for setting up a company. The creation of a freelance status is much less difficult than that of a company. Although it takes longer to set up a sole proprietorship, it is easier than setting up a company.

As far as accounting obligations are concerned, those of the freelance are simplified. They keep a journal book detailing receipts and invoices. They are also required to keep track of purchases and to keep records of purchase and sale transactions for 10 years.

The sole proprietorship must keep more complete accounts. They keep a general ledger and a journal book. It also has to make an inventory and provide annual accounts (balance sheet, profit and loss account, annex) to the tax authorities.

There are other differences relating to the social aspect, the turnover limit and much more.

How much income/profit do I have to declare?

Income earned in one year must be declared by the end of April of the following year. Taxation is applied when profits exceed a threshold. For example, on Vinted this threshold is set at €3000. Note that you must also make less than 20 transactions per year to avoid being taxed.

How do you package your items for good sales?

In order to make good sales on Vinted or other platforms, you must pay attention to all the details. The photo of the item, its posting and packaging must be well done. If you want to create a good image with the buyer, it is a good idea to increase your chances by preparing a good packaging package.
Some ideas for preparing a nice package include:

  • adding a note
  • adding sweets to the package
  • adding a note of perfume.

All these tips will help you to make a difference.