Suggestions and help for a new comer
The though of creating an export-import business has been in my mind for long and now I have decided to give a try. I am not from a business background and have no experience in this domain. I feel it's still not late for me although I am 40+.
I am planning to register OPC (One person company) in Chennai with my spouse as the director and me being the nominee. I can't directly involve as I am employed full time in IT. Planning to use RazorPay Rize for doing the registration and required documentations for a fee.
My thinking process is more on importing unique products (kids toys, etc) and sell them in online marketplaces. I feel exporting needs more focus to find source and buyers. So I thought to stick with importing and selling in India.
My plan is to start small and learn on the way. I would be very thankful if this community could give some pointers.
How to find good trustworthy sources to import from?
Any difficulties or issues by using OPC for the business?
Will my approach work? How can the marketplace commissions affect my profit?
ChatGPT says I need to do GST filing irrespective of turnover since I will deal with marketplaces. Can I do that myself every year?
Any other aspects I should consider before proceeding?
Thanks in advance for everyone.