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 Post subject: Market Traders / Starting a small business advice.
PostPosted: Mon Apr 04, 2016 11:33 am 
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Joined: Mon Apr 04, 2016 11:03 am
Posts: 3
Hello everyone,

I am currently in the process of selling everything up ready for myself and family to move to Lanzarote. Long job but we'll eventually get there.

Once everything is sorted and we get settled I have plans to set up a small business.
Ideally I would sell my homeware product on the markets, Teguise, Rubicon Marina etc.

So far I understand the security payments of €250-280 a month, yearly registration to trade on the markets (€150+?) and (€20+) a trading day. I understand that these may be outdated costs.

I am looking for advice from anyone that knows this area well to correct me and give me further advice.
My product will be from the UK, light small cost but in large volume. Any experiences to do with duty costs etc would be much appreciated.

Has anyone joined the ZEC scheme?

Thanks,
Angie.


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 Post subject: Re: Market Traders / Starting a small business advice.
PostPosted: Mon Apr 04, 2016 2:15 pm 
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Joined: Thu Jun 14, 2012 7:30 am
Posts: 541
Hi
Firstly may I wish you luck with your venture
Secondly there are many costs you do not list I am afraid....I looked into this for an English friend about 18 months ago and due to the costs he decided it was a non-starter but here we go...
.importing items for sale from another EU destination requires registration as an Importer /Exporter and thus is a further cost( not to mention customs duty and if the UK votes out of the EU much higher customs charges)
Tax is charged around 20% up for self-employed ( and is payable whether you are making your estimated sales figures or not)however there is a low cost start scheme for Social Security(again only available to EU residents another loss if UK votes out)
You will require full residencia and NIF numbers ( again a grey area if UK leaves the EU)cost around 20€ if you can speak Spanish and do it yourself or budget around 80€ for someone to do it for you)
The waiting list for a stall at most of the bigger markets is around 12 months to 2 years in some cases ...can you afford to wait that long with no income ?
Most of the market traders and officials will only speak Spanish..can you communicate at this level??
You may be required to register for IGIC (local version of VAT if your ´´projected´´ sales exceed their limits ( more expense and payable in advance)
Markets usually only trade for a maximum of 4 or 5 hours (around 9 to 9.30 to 1300 or 1400) will you sell sufficient quantities of a single item to make it worth your while?
You say ´´homeware´´ so the tourist markets will not be much use( mainly ´´tat´´ and souvenirs...few real bargains and an awful lot of ´´copies ´´ etc ...so is your product truly unique?) and if selling to the locals you will need to be fluent in Spanish (Brits and Irish on their ´´jollies´´ do not tend to buy something that may come in useful once back home ! )
I am aware this seems to be negative but if your business plan does not cross the ´´t´´´s and dot the ´´i´´s then you may come unstuck very quickly,especially given the uncertainty of the forthcoming referendum.
Some markets will simply not allow you to sell an item if it is deemed that there are sufficient traders in the same product type......so have you any alternative if this is the case ?
Buena Suerte :D


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 Post subject: Re: Market Traders / Starting a small business advice.
PostPosted: Mon Apr 04, 2016 3:18 pm 
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Joined: Mon Apr 04, 2016 11:03 am
Posts: 3
Gracias por la informacion.

I fully expect all these cost, I can incorporate them into my price.

I have a few discount shops in the UK and have a lot of experience in this product category. I think it would suit most customers whether residing or visiting. I'm certainly not entering this idea blind.

Fortunately we will be able to support ourselves without an income but it would be nice to support ourselves and keep busy this way.

Like most markets there is a wait, however I expected it more to be for the 'prime spot'. A 2 year wait is a little off putting.

Residency and the rest of it will already be sorted before I go ahead with anything (if I do) and yes I speak Spanish very well, so that's one less problem.

Really appreciate all that you have told me, just gathering my bearings, not got my heart set on anything.

Thanks again !


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 Post subject: Re: Market Traders / Starting a small business advice.
PostPosted: Wed Apr 06, 2016 1:29 pm 
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Joined: Mon Apr 04, 2016 11:03 am
Posts: 3
Hi lanzalocal,

I cannot find any information on where you would have to register as an importer and a cost to go with it.
Where did you find this information?

A registered business would receive an EORI number and an EU-1 certificate would only be needed if goods per shipment exceeded over €6,000.


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 Post subject: Re: Market Traders / Starting a small business advice.
PostPosted: Wed Apr 06, 2016 4:37 pm 
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Joined: Thu Jun 14, 2012 7:30 am
Posts: 541
Hi
Thats the one....couldn´t remember what it was called before.....EORI number is what it is.....I know it is for over 6000€ per shipment...but that may be the best way to do it..i.e in bulk as shipping smaller amounts will accumulate customs duty each time....EORI registers you as an importer/exporter


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