Bulk buying frames + groupsets
- Thread starter timbono5
- Start date
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Drago
Legendary Member
- Location
- Suburban Poshshire
Ribble do just that, buy frames in bulk lots from abroad and sell them on with the punters choice of groupset. I suspect they also buy their groupsets from abroad rather than go through Madison.
Citius
Guest
Well, clearly Ribble, PX, Weigh and others all do this already. That's kinda the point I was making. Shimano groupsets supplied to UK trade buyers go through Madison.
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Andrew_P
In between here and there
They get the Groupsets under OEM the only difference is no instructions and in plastic bags. They are supposed to be only used on new bike builds. Bit like the old OEM windows that you get with prebuilt PC's
The Frames are mostly open moulds from one or two Chinese/Taiwanese other brands sell these such as De Rosa
OP
OP
timbono5
New Member
Yeah I don't think selling as new is the way forward to start with. Selling the bikes as used "due to test ride" would probably be the way forward. Certainly wouldn't be easy to sell them but not everyone buys a bike on logic alone, some would buy it if they like the look of it.
Thanks for the advice everyone, certainly some eye opening stuff!
Thanks for the advice everyone, certainly some eye opening stuff!
Citius
Guest
Inland Revenue and Trading Standards usually take a dim view of that sort of thing....
Citius
Guest
Normally I would agree - and to do this occasionally with 'ex-demo' stock is fine. But not if every single product you make is sold in this way, regardless. That's why I said it would be quite likely you will get visits both from local trading standards and local tax office.
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timbono5
New Member
Not making any money from it so income tax isn't relevant but I take your point about having to maybe fill out self assessment tax form. If someone decided to quit cycling and had 5 bikes in their garage which they then sold, would the taxman start chasing them for income tax/corporation tax? I certainly wouldn't sell the numbers to flag anything up.
It would be a real damming indictment to this country if someone can't put together 10 bikes and sell them without jumping through all sorts of hoops and worry about paying corporation tax!
It would be a real damming indictment to this country if someone can't put together 10 bikes and sell them without jumping through all sorts of hoops and worry about paying corporation tax!
vickster
Legendary Member
Depends if you are doing it as a business enterprise even if you don't make much money. In fact, I think you could easily lose money. You aren't building / buying them for yourself, but for the express purpose to sell on. A one of maybe, but 10? As other have said you'd need to insure yourself, if something goes wrong you could find yourself in hot water if someone decides to sue
If you just like building bikes and it isn't to make money, I'd go do it for a charity
If you just like building bikes and it isn't to make money, I'd go do it for a charity
Citius
Guest
Income tax is not a tax on profits, it is a tax on income. Assuming you are already paying income tax yourself, then any revenue you achieve from selling these bikes will be taxable. Unless it goes through a company, but then the whole thing just seems like a huge amount of faff and a bit pointless, if I'm honest - especially if the objective is NOT to make a profit.
swee'pea99
Squire
I'm baffled too. You've said more than once you're not doing it to make money. So, as Screenman says, why are you doing it? You could lose a lot of money trying to get this off the ground, and it'll certainly involve a lot of time and effort. So, no offence, but, what's the upside?
OP
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timbono5
New Member
Just want to make some good looking bikes that people can buy. I guess it's the feeling that people are riding on something I've made, styled/designed. I don't expect everyone to understand it, does it really matter why I want to do it? If no-one else can help with sourcing frames then I think this thread has run its course.