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

elly68

Hi all just an update Indie this should make you laugh.bought 2 handbags £5.00 gave both away -£5.00. Bought 2 dr who duvets £5.00 guess what gave them away.-£10.00 .Have bought 5 kids make up sets £5.00 2 have been snaffled already-£2.00.The last thing I bought is fold up camping chairs at £2 appears these sell on ebay as fishing chairs at £15 a go may finally get some money back whoohoo so i'm obviously good at picking up bargains unfortunately ev1 wants them for free .I ain't gave up yet:rotfl:

MasterBell_2

head up, there has been loads of times where I have purchased lots (50-100) of certain types of items only for me to not be able to sell them when my research told me I would treble up.......


Every day is a new day, targets are good but dont get disheartened every single experiance is a learning curve and you will learn or benefit in some way whether

MasterBell_2

you will struggle with just a shop in general you need to identify a way of taking a common product (probably best to be one of your hobbies) adding value to this and then selling this...

I dont mean to dent confidence but to get certain product lines you would have to buy and as such outlay large sums of money to get stock that had a decent profit line in.

I would suggest you find one of your hobbies where you can dropship the products there would be no outlay for you as you would be getting the website for free ...........


any questions i might be able to give you a few pointers or the best places to look.

remember google is your friend ;-)

copperjar

I've still only managed to buy 2 items that I've resold for a profit, the rest of my sales have been from a spring clean of the house! Starting to worry about what to sell once my last lot of personal stuff goes onto ebay on Sunday. I seem to have spent hours and hours searching for things to sell on, but haven't found anything with a decent enough profit in it yet.

MasterBell_2

many people myself included has spent years looking for a golden egg, and in all honesty these days it is very very rare.

you need to find something that works for you, trust me its not all about the profit.
I sell a few things now and dont make as much money as i could but i find it easy...

this wont clear the debt quicker but it will be a easier and more sustainable in the long run

ladymoon

Hi all,

Not much has been happening here at the house of "the cold" everyone (including me) has had or still have nasty little colds.

My total is around the £100 mark from selling jam machine timeshare, saving money on household items, and selling meals to my sister and bil ...... yes i said selling meals to them they live with us and my sister does not cook unless it goes in the microwave or is burgers and chips, so she has been looking at my meal plans and seeing what she wants, i then work out prie per portion (plus a little for me) and charge them ... it's usually only £1-£1.50 per serving but they eat well and i get a bit of money ... cheeky i know

And just for you indierocker:
I have bought stuff to sell in the past, 3 times now, and each time it didn't work out, but it was not a failure ... just learning a few new things not to do next time

1. I made some jewellery that mum thought was really good, she got me all excited and we invested £200 into the beads etc ... made it up, and it didn't sell, still have it in the loft 7 yrs on (sold the findings and beads, so am going to take them apart and sell the parts)

2. 6 yrs ago I made some candles, mum thought were good, so invested another £250 each in it, including craft fair stalls, thought we'd sell jewellery too ... profit -£470 and the candles went horrible in the shed so ended up chucking quite a few

3. The last one was around the same time as the candles, those bags with photos of famous people on were really popular, so found a wholesaler and got a few along with other bags to start with paid £70 and sold on for £130 so was really happy, took mum to get some more as she wanted in on the deal, spent £100 and again made a profit, so decided to invest more to get a better discount, couldn't get to wholesalers so off went mum with the money and came home with 20 corset bags, i said get a couple of them and the rest
bags that we had already sold, spent around £200 on bags that i have sold 2 of! so i gave up and the bags are still in mums loft (probably try and sell them in a job lot, or charity shop them)

These were learning exercises, so don't be disheartened ... i've "lost" a lot of money trying to set up businesses, but lately i have found that i can make and decorate a decent celebration cake, and do these for friends and family, and have made more doing something that i really, really know about than just thinking how to make money.

I have also learnt ... don't listen to mum and don't go into business with her :rotfl:

Don't give up at the first hurdle, you'll only regret it, and then you'll always think "what if i hadn't given up"

cheekyemma

i think its all a bit of trial and error with the whole buying to resell, for a first timer (ie,me!) Im starting with things that I like and know abit about, like make up and clothes (real girly things lol) that way if I cant shift it I won't have lost out too much as Ill be able to make use of it myself, if that make sense. Im also putting my artistic talents to good use by making crafts that I am hoping to sell at fairs etc. Im trying to keep my fingers in lots of pies!

MFW_DannyG

don't forget Peter Jones & Richard Branson (i think) went bankrupt before they became multi millionaires, they didn't give up when things were rock bottom and look at them now....

Amber_Sunshine

kosma1 wrote: »

Oops, I also type too fast; furthermore I´m tired, which leads to so many mistakes. Now I´m going to make myself scarce before Amber the proofreader gets her whip out again.

Too late!

MasterBell_2

peter jones has lost his house a few times I think...

it is about risk but there are ways to limit this first being buy something you know about

secondly and this is my best piece of advice ebay is not the be all and end all, there have been plently of times I have made a good few hundred quid on car boots with JUNK that wouldnt sell on ebay....