Thursday, February 18, 2010

My first sale to a gourmet and specialty food store!

It's been a very exciting day!

OK, well in my last post, I promised to reveal the name of the gourmet and specialty food store in the Hudson Valley, NY that now sells Baron's International Kitchen's gourmet products. Are you ready? It's The Hansen Caviar Company on Route 28 in West Hurley, NY (800-735-0441).

All of my products are available at this outlet- Michael Hansen has designed an elegant space which features many interesting food items. It's a fun experience to be in the store just browsing the shelves. You've got to stop by this Hudson Valley specialty food store and check it out.

Enjoy your visit to The Hansen Caviar Company! Let me know how it goes.


Some info about sales tax and selling wholesale

Hey folks,

well I'm ready to reveal the name of that gourmet and specialty food store in the Hudson Valley that now sells my gourmet products but first I wanted to share some information about selling wholesale.

One of the most fun aspects of running my own business has been the incredible amount of learning that I've experienced which has made all the hard work so far just that much more enjoyable. Today was no exception. I got a tutorial on NY sales tax and Resale Certificates from a very nice and patient representative named Jimmy at the NYS Department of Taxation and Finance. I thought I'd share this info with my fellow entrepreneurs out there for those who (like me) just didn't know.

So in NYS, vendors (that's us business owners) are not required to pay sales tax on items used to produce products that will then be resold provided this vendor is registered with the state AND has a Resale Certificate.

Vendors are required to collect sales tax from retail purchasers. There's more...if vendors (remember, that's you) sell wholesale to other retailers (B to B), then that business buyer is also not required to pay sales tax IF they are registered AND have a Resale Certificate. I know it may sound confusing but it's pretty straightforward really. You can find more information online or contact the Department of Taxation and Finance in your state to find out what the regulations are.

In NYS a quarterly sales tax return must be filed using form ST-100. This is the vehicle for paying the sales tax collected. The first one for 2010 is due March 21st and covers the prior one year period ending February 28th.

I'd be happy to talk about specifics if you're interested but I encourage you to reach out to the folks at the Department of Taxation and Finance instead for more information. They're the real experts. Thanks, Jimmy for all your help and for making everything so easy to understand!

So, are you ready to find out the name of that gourmet and specialty food store in the Hudson Valley, NY that now sells my gourmet products?...

Read the next blog to find out :)


What's new and exciting?

Yeah, I's been a while since I checked in. It's been very busy (which is good). There's a lot happening that I've been meaning to write about. I just have to take a few minutes even though it's late to tell about some new and exciting developments.

So, I have made all the products and I have even had a few sales. They've come from friends and family through the website. It's been fun packaging up the orders and taking them to the post office (yeah, it's the little things that make me happy :) Remember that gourmet and specialty food store that placed an order in December that I blogged about? Well, now that the inventory is available and labeled (more about the product labels below) I'll be delivering that order tomorrow. After that, I'll reveal the name of the gourmet and specialty food store so check back to find out more.

So the product took a little bit of work to finish the design of those and then a really long time to get them printed just right. Finally, it worked out and I was able to order them. For the past couple of weeks, I've been a labeling machine, cutting and adhering product labels onto the items. This work has completely taken over my dining room. There are boxes everywhere.

Not sure if I mentioned this in a previous blog...Shawn, the Proprietor of The Reservoir Inn Restaurant in West Hurley, NY where I'm renting the kitchen expressed interest in featuring my products on the restaurant's menu- how cool is that? I will be getting some product over to him in the next day or two so his Chef can experiment to decide what dishes will be featured. Check back for updates about that as well so you can know when you can visit the Reservoir Inn and order a meal prepared with one of my products. It will be a great way to try my gourmet products and you'll also be able to purchase those items you enjoyed right there at the Restaurant- how cool is that too?

So what's next? Well, I'll be in the kitchen producing inventory on a pretty hectic schedule over the next couple of weeks, so it's going to be really busy for me. I'd like to kick things off you know, more "officially", really start getting the word out but I need to make more inventory first because I definitely don't have enough right now. I'm hoping to really increase the sales momentum mid to late March.

It's tax season- all you entrepreneurs out there who own corporations, remember your corporate tax filings are due by 3/15. If you're looking for a new Accountant, let me know. I'm very happy with the attention and service my Accountant provides and I would be happy to share his name and number if anyone is interested.

Well, that's the major news for now. I'll be back in touch tomorrow and will reveal the name of that gourmet and specialty food store where you will be able to purchase Baron's International Kitchen products. Stay tuned!