The turn £100.00 into £10.000.00+ by the end of 2010 official thread

margf

Hi - I am going to give this a try so can you please sign me up.
Started today with Ebay selling of over buys of Christmas Presents.
Would like to think I could turn £100 into £10,000 but will have to think of new ways.

Good luck to everyone
Marg

Esqulax

iamsamsmum - you OH being a carpenter...
maybe look at something like.. picking up fixable furniture from a tip, then maybe paint them yourself.. even customize them for wherever they're gong... like a pink/white chair with 'Megan' Painted on it for someone's room (Well.. a Megan's room) - Random name...

wobblywizard

How's it going everyone? Noticing some good totals made already :beer:

I'm currently knitting some arm warmers to sell on Ebay (will jazz them up so hopefully will appeal to someone) and am on the lookout for some dressmaking fabric on the cheap. I work on a Haberdashery counter on Sundays so can pick up bits and bobs there, just waiting to get some cash to go shopping for supplies! I'm missing Hobbycraft terribly and can't face going back there just as a customer

I sorted out all my old cashback/survey accounts and had £30+ that I didn't know about so there's a start! Also have a ton of stuff to Ebay but need to borrow a camera as my last one's decided to die on me, not off to a fantastic start but feeling optimistic

bing0

iamsamsmum wrote: »

Hi All,
I joined this thread what seems like ages ago (I think I'm member number 40 something lol) Finally just caught up to the end, a couple of days of for xmas and I was way behind!
Just wanted to ask, I think its been asked before but cant seem to find it again (typical!), if you are making things specifically to sell on are you required to pay tax on the goods?
My OH is a carpenter (out of work at the moment grrr!) so I've been looking into things he can knock up that we could sell, any ideas on items he could make also greatly appreciated!
Keep up the good work folks, and remember, think wealth not debt!

Hi, I did very well a few years back buying rocking chairs ,then painting them with either Farrow & Ball or Laura Ashley paint.I was buying chairs on average for £10-£20.00 and selling for £80-£100.00.I must admit that they always looked very good when freshly painted.This is a very easy way to make money,it may be worth using the old faithful selling technique at first.....stack it high,sell it cheap.

example:

The theory behind this proven method is it can be better selling 10 items at £50.00 than 1 item at £100.00.Lets say the item costs £15.00 to purchase/paint/sell.

10 x £50.00 = £500.00 less 10 x £15.00 costs @ £350.00 total
1 x £100.00 = £100.00 less 1 x £15.00 cost @ £85.00 total

So if you were aiming to sell 10 units of anything per week on these figures,you would have taken £350.00
If you had held out for a higher price and only sold 1 unit on the week,you would have taken £85.00

Look at the bigger picture.....

50 weeks at £350.00 a week = £17500.00
50 weeks at £85.00 a week = £4.250.00

Obviously you would have tax / insurance /costs to deduct too,but you can see where I'm coming from.This is how the big companies work,lets take Tescos,they take 8 billion a year (example figures) there total % of profit is ONLY 10%,but that still equates to 800 million.

I've said it before but a golden rule is " do not get personal with whatever you sell".


thanks........:hello:

istarimoneta

Hi everyone

I have been lurking and reading this thread since it started and now with christmas out of the way I am feeling really motivated and inspired by you all to take part and give it a go so could you add me please.

Have spent the day sorting out stuff to put onto ebay and have listed a load of books and games onto amazon so fingers crossed. Will spend the next couple of days photographing and listing what I have so far on ebay.

Good luck to everyone!

flyp

I am intrested but still planning in my head, will decide very soon.

Edit: can anyone give me any tips?

HunnyBunny

count me in, im determined to fill up my sons trust fund every year.

Buffythedebtslayer

I restarted Slicethepie today and have joined the cashback site Quanti.

I also read Mrscmr's diary, well bits of it. Amazing woman. And I always read Hypno's diary too. real inspiration there.

Night all xx

mumtoomany

Hi all,

Won another £25.00 on bingo britain yesterday.

Picked up some more reduced Christmas stuff from B&Q and Aldi, so spent another £23.81. The idea behind this is that towards the end of September I will hire a stall at DD4's school autumn fair, and sell it all for at least double what I have paid. If anyone else wants to try this Aldi have some very cheap wrapping paper. E.g. Disney 8 metres (I think, might be 10) for 49p. Or just stock up for yourself. Now if I can stop the children all moving back home or moving other people in I should have room to store it untill then.

Also I have a friend who is interested in doing a car boot or two next year, but doesn't want to go it alone. I have offered to join forces and halve the fees.

Can somebody remind me please how to do the signature thing so I can keep a tally of spends/profit. Thanks.

mumtoomany.

MummyandPaige

cally - tried Freecycle, waiting for the last 6 months for them to verify and let me on!

iamsamsmum - my dad was in the same situation a couple of years ago, he did bit on a smaller scale than the rocking chairs. He raided all his off cuts and smaller bits of wood and made spice racks and different sized chopping boards which sold for £5-£10 each at craft fairs and boot sales (not big money but he could knock up a few a day and it was off cuts so no material costs) they sold well. Also the old favorites of rabbit hutches and bird tables and houses. They always sold well, think for about £25-£45 each, dependant on size. Like I said, not big money, but things that you can guarantee that people will buy. More importantly, something for him to do to save him climbing the walls! oh, also picnic tables he dabled with.