How do I buy from customers properly?

Hi I plan on starting my own business. In my business I am wanting to also buy iteams at a lower cost from my customers and then sell what I bought for value cost in my store. Now I been on the other end of this before. Selling things to small businesses. Some ask to see my I.D. 

my question is what legal things do I need in order to buy from customers? Why would I need their I.D. and information? 

3 Answers

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  • 2 months ago

    You do not but things from your customers.  You BUY from VENDORS and sell to customers.  That is how business works.

    You need your OWN business ID.

    So go on line to IRS.gov and apply for your EIN.  It is free.  Once you get that number then that is your proof that you are in business.   So when the people ask then you pull out your drivers license or other photo ID and you pull out your paper that shows your EIN.

    Visit the Excellence-Success site and read about how to run a business.

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  • 2 months ago

    They won't sell wholesale to someone who is not representing a business.

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  • 2 months ago

    You need their ID and information so that when (not "if", because this will happen sooner or later) they sell you something that isn't actually theirs, because they stole it, you can tell the police who sold you the stolen item so the police can go arrest the "customer" for stealing it..

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