Business venture

[Dave A]

If I gather correctly. I dont need to have a name for my company yet, or trade under something to trade?

You know what? I seem to recall something on the issue of trading names in the looming Consumer Protection Act. Something about having to register a defensive name at CIPRO or something along those lines...

[Blurock]

It is important to have an identity for your business. Whether you are cutting trees or selling computers, people want to know who they are dealing with. It is also important to establish a name or brand for your product. Consider a trade name e.g Joe Bloggs T/a Computer Seller and keep a proper set of books. You are building up a history for your future listed company, remember? - or even if your aspirations are not that high, you still need to satisfy all the relevant authorities, suppliers and customers that you are legitimate. You also need financials if you ever intend raising finance or equity.
How are you going to distribute this product? Will you be creating new jobs? Can you do this all on your own?
Consider distribution agreements with existing players in the market and learn from them. How did they get to where they are now?

[NTLTL]

Consider distribution agreements with existing players in the market and learn from them.

The supplier im dealing with...should i get a signed agreement that im one of his agents in a certain region and should he have forms for that?

Dave A you were right i have to go to the cipro website. SARS told me this morning.

[Dave A]

Starting out as a sole proprietor just got a little more complicated

This government of ours just doesn't have a clue how to stimulate small business development, do they?

[NTLTL]

The supplier im dealing with...should i get a signed agreement that im one of his agents in a certain region and should he have forms for that?

Dave A what r your thoughts on this, if you have any?

[Dave A]

Dave A what r your thoughts on this, if you have any?

My thought is the more you can lock down some level of exclusivity or preferential treatment from your supply chain the better. But ultimately the finer points are way out of my experience.

I'm just one guy and this is a forum site for good reason. Keep your mind open to other opinions too

There's a heck of a lot of experience and expertise to be had from the members here that's far better than mine.

[Blurock]

You are not giving much information on your business venture. From the thread I gather that you have not been in business before. What agreement do you have with your supplier? Why would he give you an agency? Do you have the knowledge and infrastructure to sell and distribute his product? If the barriers to entry is that low, you must have a number of competitors that can do exactly what you are doing. Are they better equipped for the venture than you are? Are you going to give up your current job to do this? Is it sustainable? These are questions that you need to discuss with a business coach or a mentor that is already in business. Let someone peruse your business plan and get some advice before you spend too much money.

[NTLTL]

I havent been in business before thats why im here. I have been working in my fathers business for 5 years and still am. Im not going give up my job unless the venture gets bigger. I had good results with the product and the customers are interested. The other thing is there are other products to be sold but im waiting for training with those still. Basically i have entered this venture with the thought that if one product doesnt sale i will try the others. The reason the supplier would give me the agency is because i have experience with similar products and therefore have contacts in those fields in my region. I have a verbal agreement at the moment but I think I need this on paper before I go full throttle. Im very careful with my money.

[Dave A]

I have a verbal agreement at the moment but I think I need this on paper before I go full throttle.

Definitely. You wouldn't want to land some big customers, and then have your supplier go direct to them and cut you out the loop.
(Just had one of those - my sales rep involved is absolutely fuming).

[NTLTL]

Thanx Dave A. I have sent an email to get it done offically.