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Turn £100.00 into £10.000.00+ by the end of 2010 official thread PART 2

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bing0
bing0 Posts: 451 Forumite
Part of the Furniture Combo Breaker
edited 18 January 2010 at 6:44PM in Boost your income
That's right,I will do this buying,selling,overtime (only on a basic wage).

With a little bit of knowledge gained over the last few years,buying at auction,carboot sales,ebay and so on,I believe I can make this target and possibly more.

And before anyone starts saying it.....yes I'm registered as a business,yes I'm paying NI and yes I'm paying tax on it !

The rules:

There are none.......!

The amounts I stated are purely a guideline or target,however much you want to make is up to you.If you need any motivation,the one and only bit of advice I will give you is:

get a copy of 'the Secret' by Rhonda Byrne

read it,watch it,use it.......

If anyone is interested in joining me on my 2010 marathon (online subscriptions only available ) please add your name to this list below:

The turn £100.00 into £10.000.00+ by the end of 2010 official thread
001: bing0
002: KSoni
003: lily the pink
004: jacci45
005: zakaya
006: Scrooge2008
007: Tinuel
008: rictus123
009: jasmine lotus flower
010: 83rachel
011: Legacy
012: skintbint
014: morocha
015: debt free gonnabe
016: MummyandPaige
017: susie-sue
018: robpw2
019: LegalBlonde
020: tasha-debt
021: LilacPixie
022: xxamypxx
023: emma12345
024: JanO
025: missbishi
026: Jellicat
027: cheekyemma
028: elaine373
029: choille
030: snoppydog
031: the-nugster
032: SEASHELL
033: in.debt
034: david69
035: Danka
036: Paws
037: moneymakestheworldgoround
038: Piggles12345
039: nixinixi
040: Droop
041: nikki2804
042: Clurbur85
043: iamsamsmum
044: Jodda
045: Don Kidick
046: pink1310
047: mambury
048: Save4ArainyDay
049: julie toots
050: fifipat
051: jamespir
052: gingababe
053: Tinka21
054: becky004
055: nikki20022008
056: mark88man
057: molit
058: rachelja
059: dillidalli
060: indiasdad
061: elliott789
062: miss_cosmo
063: drinkupretty
064: Tombo
065: lindseykim13
066: xnatalie81x
067: daveyarwood
068: tryinghard
069: poppy-glos
070: Leea_Cadie
071: mazza1985
072: little miss messiah
073: manic-saver
074: staceysteve
075: melmar
076: Bambywamby
077: toniq
078: Skeksis
079: Nicnono
080: HOGOGG
081: rajivjeebun
082: Nomoneymummy
083: paulabear
084: the_cat
085: celyn90
086: happy81
087: Smerch1468
088: nads
089: Esqulax
090: nakmeister
091: debbie_debt
092: lola34
093: wrenlegs
094: shindig addict
095: bibise25
096: truly1
097: missnikkai
098: Leothecat
099: domesticgoddess
100: georgiebrown0
101: Thistle-down
102: Sparrer
103: elly68
104: abby1234519
105: Budweiser_072000
106: Sally22
107: lmb4wcb
108: yukkibear
109: Travmad
110: lucylema
111: deq123
112: mumtoomany
113: Buffythedebtslayer
114: Triker
115: Jane Sanderson
116: DeeDeeinDooDoo
117: Catmulogen
118: Sparklejadey
119: istarimoneta
120: HunnyBunny
121: Londondealer
122: lauraj87
123: Kittykate
124: TessieP
125: teabythesea
126: JoeyGrey
127: Cornflower
128: Daisy Claire
129: hippychicknos1
130: timnlaura
131: Gattona
132: Itchyfeet
133: boredofbeingathome
134: dlt123
135: Skintlynne
136: La Diva
137: Watchthisspace
138: heather2409
139: Savesarah
140: 2Cats1Kid
141: downshifter
142: nads
143: Pink1310
144: KarleyMarie
145: TheKandiman1983
146: Moromir
147: seese75
148: fkelanne
149: murie
150: shopaholic2006
151: badgerbread
152: cydney65
153: ratestart
154: copperjar
155: Savvybunny2009
156: carolbe
157: Smallfries
158: Caroline73
159: ktj
160: helzbelz_57
161: kittenkirst
162: Pipersky
163: YummyMummy20
164: Whatagain
165: Milliebert
166: Chelle22
167: apo1105
168: ladydisco
169: toby3000
170: Yosser444
171: tommymcn
172: Turia
173: julie2710
174: minimod
175: Memory Girl
176: BungleGirl
177: Creaker
178: josieann
179: Kemo_2002
180: lozbk
181: Zafiro1984
182: Nigglet
183: MAXOL
184: Mags50
185: rosybear
186: Mr pies
187: Rosie
188: tommymcn
189: hannahbtw
190: bekki1
191: Ltravers
192: Jo70mo
193: hayley_jayne
194: catflea
195: SaucySecrets
196: CherryJ
197: Spike2012
198: Missgiddypants
199: happygirl1968
200: Amber Sunshine
201: Cally6008
202: suzybloo
203: meandmaboy
204: Ladymoon
205: hezzie
206: TurkishDelight
207: amancalledmartin
208: purple-pixie
209: Corrig24
210: macgirl
211: JanineB
212: Dollydealer
213: Spidystrider
214: WilliamD1964
215: Eyesparky
216: Haydens Mum
217: Supa-girl
218: Mokeyjen
219: benbenandme
220: Moneymable
221: Wilf55
222: hawkster
223: Ddraig
224: alysa_liss
225: bella2121
226: Sallys Savings
227: eddiemad
228: retrocircles
229: LittleMissHappy
230: justlucky - (from now onwards!)
231: miamoo
232: Mcchse
233: hannah27
234: katquinn82
235: Smem
236: betmunch
237: DFWJane
238: NatNat1977
239: Lightbulbmoment
240: TraceyJ
241: Kelbly
242: Vickyb242
243: dastley
244: coconut-ice
245: mimms
246: Fruitloops
247: cakeordeath
248: Tall_Tone
249: jacobjacob
250: jason69moore
251: 82much
252: nellis10
253: happytails
254: Perthman
255: Kosma1
256: Carkeyz
257: blue~skies
258: Cooki2222
259: racer256
260: emweaver
261: jammy biatch
262: lilmiss
263: abimonster02
264: Jami74
265: Steveswift
266: Jag Babe
267: Casey face
268: Humf
269: natalie_86
270: lilmissmup
271: bjplfw2007
272: bass3k
273: Dinah93
274: Southfieldslass
275: Emminently
276: Munchki
277: Mrs-d
278: Sweetpea32
279: Spartan59
280: jem_angelic
281: china-doll
282: BFem
283: chrissy100
284: princessnadi
285: shellshell87
286: Phil51
287: bails
288: indierocker85
289: az_theman
290: Jag Babe
291: Bexterragga
292: credit_crunch
293: JulieK1313
294: Cannysaver09
295: SADIE
296: Sholly
297: Shezmit
298: ffswisstony
299: Treacle1983
300: too_much_debt
301: niccy
302: natnat13
303: mummygigi
304: Kez12
305: GreyhoundAngel
306: heggied
307: Perivale Paul
308: Viv
309: Gerrym1984
310: AuntieH
311: stacy
312: ewingoil
313: MFW DannyG
314: emmie
315: jem_angelic
316: Joann3
317: Deeceep19
318: FullTimeMum2010
319: Orange-sox
320: toffee 'n' tom
321: partylover
322: Hales
323: Mr-Kilner
324: keys
325: Pennypincher_L
326: BangBang
327: Bex2002
328: Sz3xy_C
329: LizD
330: Mrs Money
331: ttck4eva

331 Members


Weekly Update - Next update Monday 25th January. I'll keep a note of anybody who wants to join in the interim period, and add them to the list next week.

Please shout if you have been missed off......( PM scrooge2008 managing partner of the list update ! )



Be careful about the bingobritain information at the start of this thread,
although it sounds great,they have changed the withdrawal limit.



If anyone wants a great wholesalers site,READ POST .....1301



HAPPY NEW YEAR TO EVERYONE



Some great links we have here. Can I just say thank you in particular to Carcon as well as others for all the eBay links - I'm making my way through them and they are SOO useful!


General
Facebook link http://www.facebook.com/reqs.php#/gr...d=396812865586 (Cally600)
RegrETSY (for fun) http://www.regretsy.com/ (Nads)
Preemiesuk – sell mobiles http://www.preemiesuk.envirocharities.com/ (shezmit)
Paperclip > House http://oneredpaperclip.blogspot.com/ (steveint)
Homemade Light Box http://digital-photography-school.co...ive-light-tent (Fruitloops)

Ebay Help
eBay Selling Manager http://pages.ebay.co.uk/selling_manager/ (Cally6008/Eyesparky)
eBay Misspelling Search http://www.fatfingers.com/ (Seashell)
eBay fees http://auctionfeecalculator.com/uk_ebay_fee_calc2.html (Floxxie on another thread)
eBay gadgets www.Goofbay.com (Carcon)
eBay wanted section http://pages.ebay.co.uk/wantitnow/ (Carcon)
eBay Local bargains http://www.localbargainfinder.co.uk/ (paulabear)
eBay Last Minute http://www.lastminute-auction.com/uk (Carcon)
eBay No Bids http://www.no-bids.com (niccy)
eBay most popular search http://pulse.ebay.co.uk/ (Carcon)
eBay popular searches http://popular.ebay.co.uk/ (Carcon)
eBay Watch Count http://www.watchcount.com/. (Eyesparky)
eBay Logo Generator http://www.eshopbooster.co.uk/logomaker.php (Carcon)

Motivation
Mind mapping http://www.mind-mapping.co.uk/make-mind-map.htm (Scrooge2008)
The Secret http://www.pdf-search-engine.com/the...byrne-pdf.html (Agar)
Audiobook Think and Grow Rich http://www.pathway-to-success.com/tgr.html (Bambywamby)
Earle Nightingale http://www.youtube.com/watch?v=JgUc7...eature=related (Eyesparky)

Other income
Review earners http://www.wozzon.com/promotions/reviewwinpounds (Nikki2804)
Social Research http://www.natcen.ac.uk/job-opportunities (Skintbint)
Market Research http://www.cpmjobs.co.uk/ (Scrooge2008)
Market Research http://www.relfm.com/recruitment/?page_id=527

Postage, advertising help
Flyers printing http://www.just-print.co.uk/(2cats1kid)
Online Printing Services www.fileprint.org. (dillidalli)
Web site help www.webs.com. (Amber Sunshine)
Packaging supplier http://envelope-master.co.uk/ (MoneymakesTWGR)
Packaging supplier http://www.stationeryboxesandbags.co.uk/ (Turkishdelight)
Interparcel http://www.interparcel.com/ (Dillidalli)
Parcels www.parcel2go.com (Floxxie on another thread)
Parcels http://www.collectplus.co.uk/ (Turkishdelight)
Parcels http://www.parcelbee.co.uk/ (mambury)


Buying - suppliers
Giving and Living 2010 http://www.hale-events.co.uk/excatalog.cfm (Bing0)
Giving and Living 2010 http://www.givingliving.co.uk/exhibitors.html (Bing0)
jars and pots http://www.ascott.biz/acatalog/Glass...amic_Pots.html (Nakmeister)
Wholesalers http://www.dhgate.com/wholesale/dirl...fo=10.0,20.0 (Abby1234519)
Wholesalers www.alibaba.com (Mrs-D)
Wholesalers http://www.real-work-at-home.co.uk/L...language=en-GB (mambury)
Wholesalers Returns www.thetrader.co.uk (bing0)
Boffer site www.boffer.co.uk (Clurbur85)
Crafting supplier http://www.docrafts.co.uk/asp/produc...&brand=0&b2c=1 (KarleyMarie)
Gardening supplier http://www.thompson-morgan.com/ (Cooltrikerchick)
Local bargains http://www.localbargainfinder.co.uk/ (paulabear)
Grabit Bargains http://www.grabitnow.com/ (jamespir)

Selling
Hints on what to sell http://www.marketingtips.uk.com/ (Moneymaker)
Link to carboot thread http://forums.moneysavingexpert.com/...play.html?f=40 (Xxamypxx)
Carboots www.bootfairs.co.uk (Trying hard)
Carboots www.carbootjunction.com (Trying hard)
Carboots www.silversurfers.net (Trying hard)
Online carboot www.bootbay.co.uk (Victoriaplum1)
Mum and kids http://www.netmums.com (Xxdeebeexx)
Craft site http://www.folksy.com
Craft site http://www.etsy.com
Craft sitewww.dawanda.co.uk (halight)
Tile planters http://www.designerplanters.co.uk/marble.htm (Bing0)
Tile planter how to http://www.ehow.com/how_5105501_make...flowerpot.html (BFem)
Book Sellers http://fatbrain.co.uk/ (Seashell)
Books http://www.cash4books.net (cally6008)
Ladybird books http://www.ladybird-books.com/buy.php (kosma1)
Photo Selling http://www.photoboxgallery.com/ (Turia)
Photo Selling http://www.photostockplus.com/ (Turia)
Photo Selling eBook http://www.photosecrets.com/sell.html (Turia)
eBook Selling http://www.clickbank.com/index.html (rao)
Resell Ticketmaster tickets http://www.getmein.com (drinkupretty)
Lego http://www.bricklink.com/ (mambury)

Tax and Benefits
Starting a business advice - http://www.hmrc.gov.uk/startingup/ (BingO)
Register as self employed http://www.hmrc.gov.uk/selfemployed/...f-employed.htm (Rao)
Self employment advice http://forums.moneysavingexpert.com/...html?t=1987131 (Scrooge2008)
Grants for Businesses http://online.businesslink.gov.uk/bd...&r.t=RESOURCES (Scrooge2008)
Income tax relief http://www.hmrc.gov.uk/incometax/relief-self-emp.htm#2 (Kosma1)
Working Tax Credit http://taxcredits.hmrc.gov.uk/HomeNew.aspx (drinkupretty)
Expenses http://www.hmrc.gov.uk/manuals/bimmanual/bim47820.htm (Nakmeister)
Expenses examples http://www.hmrc.gov.uk/manuals/bimmanual/bim47825.htm (Nakmeister)
expenses http://www.hmrc.gov.uk/guidance/480.pdf (Paws)

Blogging
Tickers http://www.tickerfactory.com/ezticke...er.php?type=10 (rao)
Ticker Guide http://bestblogtricks.blogspot.com/2...d-add-ons.html (rao)
Wordpress Ticker http://onecoolsitebloggingtips.com/2...-to-your-blog/ (rao)

I am adding this useful info as requested by members:

Hi All.
I'm a little further on then you guys. I starred a similar thing in July 2007 with just £100. I spent the first £30 on stock from ebay and resold for £130. I made £3k in the first year after all costs, tax etc but i also grow my stock to about £5k in value.

i'm now buying and selling constantly and sold £9k of stock in the in the run up to Christmas and £30k in the whole of 2009. This was all on stock that is reduced now and winter stock reduced in the summer. I aim to make 25% - 50% per item, anything less and its not worth the hassle. Here are my key points to remember.

Knowledge - This is how you make your money. Specialise on something you know about ie i know nothing about cars but my girlfriend dad makes a living
buying and selling them. I'd lose money if i did it.

Research - You have to know your market, this is the most time consuming part.

Fees - Get a grasp of e-bays fees very quickly. They add up fast and you have to work this into your profit margin.

Postage and Packaging - find a good supplier of boxes and get friendly with the local postmaster, pays in the long run

Accounts - do them as you go along

Laziness - Capitalise on peoples laziness, i have sold items on ebay for others taking a cut of the profits just because they are too lazy to do it themselves.

Turnover - keep the stock turning over, stock that doesn't sell doesn't earn any money. Cut your losses were necessary

Seasonal Stock - i have invested £300 in advent calendars that i know i can sell next Sept for £600 that's about a £200 profit after all costs, better rate of return then any bank i know.

Gambles - I would say 20% of the capital i spend is on gambles and 80% is sure things, some pay of some don't.

Motivation - You will buy some awful stock and some real gems, the trick is not to beat yourself up or over reward yourself or you will miss the next opportunity

Cash flow - you need cash to buy stock, cash gives you options, always aim to keep 20% of your float free for opportunities that arise.

Discounts - take every discount you can get including cash back
"Do not let what you can't do interfere with what you can do."
«134567…282

Comments

  • jo_b_2
    jo_b_2 Posts: 7,122 Forumite
    1,000 Posts Combo Breaker
    edited 10 January 2010 at 11:57AM
    *Board Guide Note*

    Due to the immense popularity of this challenge, the original thread has grown to unmanageable proportions already so we have a nice new thread open for all your ideas, progress notes and moments of inspiration!

    The original thread can still be accessed HERE and the original posts will remain visible to everybody.

    Good luck all!

    A Tip For Keeping Up With The Thread
    You can make the pages easier to read if change the default setting of 10 posts per page to 40 posts - look at the USER CP in the blue band (this runs horizontally across the page, it's midway Martins photo and the start of this post) from there find 'edit options' then look down the page of things you can do to alter how you view MSE and you'll find 'thread display options' so you can change the post count to 40 post per page.

    There are some articles on the main MSE site that might give those joining in with the challenges some ideas too:
    Money Saving Makeover
    Boost Your Income
    Survey Sites
    eBay Selling Tricks
    eBay Buying Tricks
  • moneymabel
    moneymabel Posts: 7,910 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Blimey new thread already! Am bidding on a couple of things on ebay (via fatfingers) should be a bit of profit on them if I get them for the starting price.
    also had a thought (careful!) My parents are members of their local bowling club that books the village hall before xmas for a sale to raise funds where they sell tables for a fiver (I mean you can have a table to sell your stuff not actual tables) doesnt matter if its second hand or new stuff. As most of what I'm buying is toys I reckon this will be a good moneyspinner,especially as there are a lot of older folk in the village with lots of grandkids to spoil!
    Worth checking out your local community for sales (expect everyones already thought of this anyway!)
  • munchki
    munchki Posts: 1,772 Forumite
    ohhhh lovely nice,new shiny thread!!

    Well, this may be a round about way of getting my £100 to start with BUT new partner and I have just moved in together and well I must have a phone and broadband sooooooooo have signed up with virgin media, not my fav but worked out the best for what we/I need and as I got the first two months free saving £50, and also managed £130 cashback through quidco (nearly forgot I had that!) so there is my money to start with. Told partner that and laughed himself silly and is actually starting to believe that I can make this happen.

    I am starting to do some freelance work as well while I am looking for a proper job so dont think I can or should count that money towards my totals each month, maybe perhaps after I get the real job!

    We have discussed that darling partner needs to have a serious clearout, can we say overstuffed garage, loft, wardrobes, kitchen etc!!! He was just going to donate the stuff to charity I quite matter of factly begged to differ with him LOL. So should have lots of things to ebay and carboot over the next few weeks!! Woohoo!!

    Gosh I could just keep blabbering on but shall behave myself and sit on my fingers so I cant speak anymore LOL

    Good luck to you all and I positively love this board!!! Thank you for letting me come out to play!!

    Munchki xx
    I am somebody. I am me. I like being me. And I need nobody to make me somebody! Louis L'Amour
  • jo70mo
    jo70mo Posts: 3,792 Forumite
    edited 10 January 2010 at 1:51PM
    Went to 2 cancelled car boots today - doh!!
    Still got to check amazon to see if anymore sold since yesterday but just saw this shiny new thread and wanted to get in on it cos as much as its nice to have a smaller thread I somehow miss the bigger one. Sure it wont take long though.
    I'm finding it hard to accept that ebay don't let you list books by isbn and stock photos but it seems to be true. So I will probably just list even more on amazon.
    Some stuff I bought new arrived yesterday - I want to keep it :-)
    Some of it would be good for valentines day so does anyone have an ideal ebay listing time for valentine day?
    Thanks
    Jo x
    “Don’t ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive.”
    - Howard Thurman
  • Dinah93
    Dinah93 Posts: 11,466 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Bake Off Boss!
    Excited by the new thread, perhaps I have a slim chance of staying up to date with this one!
    Debt January 1st 2018 £96,999.81
    Debt September 20th 2022 £2991.68- 96.92% paid off
    Met NIM 23/06/2008
  • SADIE
    SADIE Posts: 527 Forumite
    Thanks bing0 for letting me join your challenge and Hello to everyone. I've read with interest everyones progress but really didn't think it was possible for me. I've made £426 from Ebaying and a car boot last Sunday so I'm going to give it a go.:D
  • sholly_2
    sholly_2 Posts: 11 Forumite
    Hi

    My first post, please add me into the challenge.

    I have a spreadsheet which I hope to use for this if anyone else would like to have a go with it?

    Thanks.
  • Turia
    Turia Posts: 182 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    wow well done Sadie!! good going at this rate you'll smash the £10k target :)

    New thread and only one week down "officially" hehe - hmm we might end up with 52 threads eeek!!

    :D
    £2022 in 2022  - £1042/£2022 

    "Our intention creates our reality - energy flows where intention goes"


  • kosma1
    kosma1 Posts: 243 Forumite
    Just to let you know, as i know some people were asking quesitons about postage and costs, if it helps, you can phone Royal Mail Customer Services on 0845 7740740 and request one of the sheets with sizes etc on, i plan on doing this, perhaps placoing it on some cardboard to keep it sturdy, and cutting out the postage hole size (it is one of the forms they have in plastic at the post office to check if an envelope will fit through etc. Thought it may be useful to have and also make me use different packaging if i think it can get through the hole by other means.

    OK, after a very lazy day of doing nothing yesterday i really must go now and use the day productively, take some pictures, create some new listings, maybe rummage the house for anything else of value.

    oh and taking onboard what othre people had mentioned about what we think is junk may sell, i have 2 model cars, jaguar and chevrolet, which are old, have one or two scratches, and slightly damaged as in wiper broker or taillight mising, but figured i could list at 99p listing they are damaged etc, figured an enthusiast/collecter may still want them and might be able to do them up? at 99p free listing, worthwhile giving everything a go really, and this board is making me realise that, so will let you know how i get on with them :)
    Thanks to all who post comps :T


  • shezmit
    shezmit Posts: 781 Forumite
    PLEASE CAN YOU ADD ME

    i am trying to raise £5,000 for charity by doing this, The charity i am trying to raise for is PreemiesUK which i run and we knit and crochet for premature babies so all the money we raised will towards postage costs of parcels which we send to Special care baby units throughout the UK and the rest will go on materials we need, Last year i was paying all this out of my own pocket so this year i am trying to fund it by raising much as i can

    At the moment i have 53 items on ebay and £29 worth of bids and 61 watchers
    Knitting for premature babies and babies that are born to soon :T
    TOTAL: 4 SANDS BLANKET, 18 CROCHETED BLANKETS, 4 GOWNS, 2 SLEEPING BAG (PRIVATE REQUEST), 1 BIB, 8 BOOBS, 3 CARDIES, 9 VENTS, 3 KNITTED BLANKETS, 1 PAIR OF BOOTIES, 1 HAT,
This discussion has been closed.
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