Are consignment shops profitable?
The answer to your question isn't a simple one. First of all, the consignment store may not 'own' the inventory on hand. Typically the ownership of a consigned item remains with the consignor until the item is sold to the new owner. The store only acts as selling agent; however, the store can have inventory that it does own. Consignment stores often 'buy outright' and resell. Before putting down $8500 you should first know which items are assets of the store and which are still owned by patrons. Second thing to consider is buying an existing store vs starting your own. You might even find a 'better' location or one just as good, a vacant property where a favorable rental agreement can be bargained. In these tough times I would be hesitant to start $8500 in the hole. Makes you also wonder why the current owner is selling. At least I would attempt to negotiate 1) a lower price and 2) an installment purchase so if it doesn't fly, you'll be out of business but not out $8500. It might be worth $14? to read How to Start a Consignment Shop at http://www.consignment-software.com. There are many things to consider. When/if you get around to software, just know that there is a big difference in cost between programs. There's a program by BCSS for $99 that will get you started if you head in the direction of computerization.
Goods held on consignment are?
1. never owned by the consignee. The good remain the property of the consignor until sold. The consignee is acting as agent for the consignor to sell the property, but has not actually bought the property. the consignee will receive (keep) a percentage of the sale as commission.
What is consignment sales/C A Sales as in the column 2.2 kvat form 100?
Consignment Sales is selling your products in a different place through an agent called Consignee, at that place onthe basis of a commission. Consignee is not buying goods from you and therefore, there is no sale involved when goods are sent to consignee for sale. If the goods cannot be sold consignee can send back the goods. If the goods are sold by cosignee, sale takes place and VAT has to be paid. Such a sale is called consignment sales. A. Rajagopalan
What is consignment?
Consignment is the act of consigning, the act of giving over to another person or agent's charge, custody or care any material or goods but retaining legal ownership until the material or goods are sold. That may be done for the purpose of shipping the goods, transferring the goods to auction or intending the goods to be placed on sale in a store (a consignment store).Example of Flipkart.
Who is the Stock Transfer Agent for CNSL?
Tranfer agent is: Computershare Trust Company, N.A. P.O. Box 43078 Providence, RI 02940-3078 PH: 781-575-3100 http://www.computershare.com/equiserve (see http://ir.consolidated.com/phoenix.zhtml... ) Insofar as a DRIP program, I believe the answer is no (no program is listed on the Investor IR program, and the ticker is not listed here: http://www.stockselector.com/drips.asp?o... Hope this helps!
Would you use an agent to sell your car for you?
I’ve done that a couple of times, in a couple of different ways.First off, I’ve sold at auctions. I’ve used both Barrett-Jackson (not recommended) and Bonhams (very highly recommended) for that. You consign, they do the marketing, handle the transaction. It’s all very seamless and you typically get more than you would in a private transaction.The Bonhams team is also excellent about handling private treaty transactions for cars that don’t meet reserve. They got me more on one car via private treaty after the auction closed and failed to meet reserve than the original estimate had been. Quite well done.I also used a guy I know in the Porsche community who is a broker. He’d found a couple of very specific cars for me, and and when I had a couple of cars that I wanted to move on, I mentioned it to him and didn’t think much about it further. He came in with offers a month or so later.I sold my 930 and one of my ’63 Beetle convertibles via a local guy who had a high-line consignment business. It worked sort of like a really, really slow motion auction. I dropped the cars off, they sat in his showroom, offers came in over a period of time and eventually I took one.I don’t think I’d use it for a “regular” car, but for cars of particular interest, having someone who’s well known for knowing interesting cars for sale can be a big help.
Third-Party Logistics / 3PL: Are there any resources for Consignment/C&F agents in India which include regulations, requirement listings etc.?
3PL essentially refers to the fact that a firm outsources the logistics part of its supply chain to a third party which is known as third-party logistics provider. Here are som points which you can include-Smart usage of TechnologyFrequent Cycle count of StocksFlat Organization structureWeekly Trainings/MeetingsScorecards of each employeeRewards & Recognition ProgramsMonthly Safety & Quality auditFor more information about 3PL service provider you can visit-http://lmjlogisticsltd.in
What does it mean to be a C and F agent? How do I become a C and F in India?
C and F means carrying and forwarding agent it is a kind basic 3pl where in you provide basic storage facility to your customer (in this case a goods company)You would provide space but the inventory is owned by your customer and is also under their direct control a C and F agent does not usually takes part in inventory management It is common in pharma and fmcg industry to have C and F agents but with government going for GST it is very likely for companies to let go of this model as it was useful only in current tax regime where a company only focuses on saving taxes by having c and f agents in every state rather than geographic models for optimizing distribution but with GST this would be taken care of and now we would have big warehouses.For becoming a c and f agent u would have to get in contact with logistics department of company and after fulfilling their criteria u can become one usually it is having own space for warehousing and see security for inventoryHope this helps
Supply Chain Management: Is there any difference between clearing & forwarding agent and carrying & forwarding agent? if yes what?
Yes.Basic difference is a carrying & forwarding agent can't clear the custom documents at port when material is imported from/ exported to another country. On the other hand a clearing & forwarding agent can clear the custom documents at port when material is imported from/ exported to another country.It's mandatory for clearing & forwarding agent to hold a valid custom license by cracking examination conducted under Customs House Agents Licensing Regulations.While carrying & forwarding agent does't have such license. So they have contract with 3rd party Clearing Agents for clearance of theirs documentation at port while they (carrying & forwarding) perform other logistics work like warehousing, freight transportation to/from port, 3PL, contracting and negotiating with other transporters, freight forwarders, workers etc. Clearing & forwarding agent can also perform the task of carrying & forwarding agent.In simple terms Clearing & forwarding means clearance of material by providing relevant documents at port and forwarding the material to next chain. While Carrying & forwarding means warehousing (storing, carrying, holding) and then forwarding to next chain.For more information following links can help:HOW TO EXPORT IMPORT.COMClearing and Forwarding agentsHow to become Customs Clearing Agent in India?Edit: clearing agent can clear the material transported via Road/air by paying duty/taxes, octroi, entry tax and providing valid docs at border/state entry and airport without being CHA certified. Clearing agents also have to deal with heck of documentation like maintaining various records like RG1, RG2, PLA etc. While freight forwarders have to transfer material from one place to another by collecting required docs from consignee/consignor/clearing agents/other third party. There are various combination/type of agents:Clearing Agent: CHA certified agent who can clear goods at port. Clearing and Forwarding agents: CHA or non CHA who can clear, store, forward, transport the material.Carrier/freight forwarder/transporter: who perform transfer of goods by collecting docs from others. Depend upon the size of organisation or type of industries the service provided by agents vary.
How is a CFA (Carrying and Forwarding Agent) different from Distribution Centre? Examples, much appreciated
CFA - stands for carrying and forwarding agency which are state level warehouses which may or may not be outsourced to external party to carrying and forwarding agents for order processing and last mile deliveries. Distribution centers may or may not be oursourced, generally are one step above the CFA warehouses in supply chains. They feed to different CFA's, Since plants and factories have limited space and also multiple products maybe manufacutured in different locations, first they are aggregated at DC's and based on the pull model sent to CFA's across the country.Differences are.Placement in supply chain :CFA's are the last point of storage before sending to customers,DC's are second last point of storage.function :CFA's are interface between the end customers , hence are local to many markets and does processes such as payment collection, and order taking.DCs are bigger in size example generally companies who have CFA whose size is 20,000 sqft will tend to have 2 lac + sqft of DC warehouse.Dispatches size : DC will cater to only a couple of CFA's albeit the size of dispatch will be large. CFAs will cater to many many customers but the invoice value be smaller. DCs will be using a lot of FTL dispatches using bigger containers and trucks, whereas CFAs will dispatch using numerous minivans for last mile and part load parcel service providers. Machanization: DC will tend to be more mechanized, using Forklifts stackers etc, Racking because handling is in bulk. CFA's because of order value being smaller,will tend to have more dependence on manual trolleys and manpower. Taxation : DCs will not have many tax related manners, as most of the operations will be internal stock transfers. CFA's are generally taking orders from end customers and paying local Taxes via VAT, sales tax to local authorities, hence will also have a commercial manager deputed at the site for local tax filing every month.