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theothercandice

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    Jersey City, NJ

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  1. Thank you so much for the detailed reply @Callie Beller Diesel and @GEP!! I really appreciate this! As with doing anything new for me, I'm currently scared shitless lol! And knowledge is power! I'm glad to read things that reaffirm I'm in the right direction, revisit some decisions, and was the insight I needed. Money/Payment is an issue that I get nervous about. I worry if I'm over thinking things, but I also dont know what "normal/common practice" is in these situations. Also, what is fair to both parties. But as you mentioned, the answers are case dependent. Its interesting that its also different rules for a first time buyer and a recurring buyer but it makes sense after you realize that kind of relationship it is. I'm definitely building myself a flowchart with these notes. (And talking to my accountant asap!)
  2. Hi! First time poster, long time lurker. Thank you so much for @GEP for organizing the FAQ so I can find this helpful thread. I just have some more follow up questions. I'm doing my first wholesale order with a shop and I feel really nervous about it. I tried to research on youtube and in this forum, and here are some assumptions that I'd like some insight in. Step 1: Retailer/Gallery/Someone reaches out (or vice versa). Then you provide a catalogue/linesheet. Step 2: They put in an order form/You give them an order form to fill up Step 3: Payment: This is the part where I'm unsure. It seems like there are ways to go about it. (I realize I can send an invoice in paypal to the seller) Option 1: 20-30% deposit at the time of order, remaining balance due before shipping Option 2: 50% deposit at the time of order, remaining balance due before shipping Option 3: 100% before shipping Option 4: I keep hearing about net 30/60. But I dont really know what that means. Step 3.5: Paper Logistics: Do I charge for tax? Do they pay tax on their end? My seller gave me a sheet with her EIN. Is there something I need to do with this? Do I need an EIN?? Step 4: Make the order! Step 5: Shipping and Delivery. I've read somewhere that the buyer pays for the shipping. In some cases, the buyer and you split the cost of shipping. How do you estimate for the delivery price? Step 6: What common mishaps have you experienced and what are good practices/terms you've given to protect yourself? I read somewhere that one potter doesnt give buys option for buybacks and returns (unless they've made an error or something broke) since its wholesale and its equal risk. Thank you so much for taking the time to read this!
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