Who Can Become a Reseller in 2019

Who Can Become a Reseller in 2019 ?


Reselling is big business. It may or may not entail investment. The advantage is that you are taking on resellership of a company that is already well established and has a reputation in the market. There is demand and you do not have to put in extraordinary sales efforts. You too can become a reseller if you meet eligibility requirements. 

Age

Naturally you have to be 18 years of age or older if you wish to become a reseller. But that is not the only thing. 

A business name

If you are thinking of become a reseller for a well known company or a not-so-well-known company you will have to register a business name and obtain proof of registration along with other documents such as: 

  • Income-tax registration and PAN card

  • Bank account

  • GST registration

You can register a proprietorship company but the risks will be high for you as an individual. A limited liability partnership is best. You can consider registering a private limited or public limited company but there is lots of paperwork to do and costs. If you are just starting in business then you can register a proprietorship business to become eligible as a reseller. 

It helps to have an office. You can set it up in a commercial area or in a separate room. Having a phone, computer and fax as well as internet will help you. 

Business address

You can use your home address as your business address. However, there are advantages to having a business address in a commercial area in a commercial building. If you have storage space your chances of becoming a reseller improve. This is because you may be required to keep products in stock as one of the requirements. 

Finances

If you are new to reselling you may not be looked upon with a favorable eye. Manufacturers and wholesalers want to appoint resellers with an established, running business and with access to capital. You may be required to furnish a deposit or a bank guarantee. You may be required to keep a certain number of products in stock. You may even have to sell on credit. Finances are necessary and you may bring your own finance to the table or have banking facility. Before you apply to become a reseller you should get finances matter straight. It can be a roadblock if you will be required to keep in stock a certain quantity. 

Experience 

If you have experience in sales and are already selling some products your eligibility improves. Manufacturers and wholesalers like to appoint people, who have been in the trade, know how to tackle customers and know how to promote sales. Keep in mind that getting a resellership may be easy. Delivering results is important otherwise the company may cancel the appointment. 

You can be a man or you can be a woman. You do not need to be a graduate. You just need to have selling smarts, a will to work hard and have some knowledge of how business works. 






Author: Prajakta

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