Millionaire Challenge

ms_night_ryder

Kay

My advice re the phone is, it will cost you £600 over 2 years in phone rental for the phone, keep your £7 sim and buy the phone outright probs about £400 if you look for a deal

Well done on the 2k, it would be easy to blow the lot I'm sure, only you can really decide what to do, just don't forget to leave some business contingency money, whatever you decide.

Kayalana99

I've never said what I do, as I do believe it's something *most* people could do, and to share it publicly on a business forum...well I'd rather not risk the extra competition then what I already have

I know buying it outright (well the one I want) isn't worth it, it's a 24 month contract at £600 but £300 of that would be the phone, so when you think £300 over the 24 months works out at just £12.50 for the rest and I get 4 times as much internet..it's worth it in that respect then buying it straight....but I could still use OH's...lol.

I can't justify it buying it 'just' for the business, whilst it is useful to use it, it would not bring in an extra £25 profit , I assume most people would just email if they couldn't text ..I might lose a few sales but I doubt profit wise would be more then £5 a month or so. (I would buy it as a business expense though ;D)

I've done a bit of spending and brought some more stock, I brought a new line a few weeks back and still haven't had time to develop it but one of my listings has sold 20 or so in past two days (compared to selling 3 in the past month over all) I have a feeling it will catch up ...as the listing I was on about before that is doing well..well it's the same area but dif product so I can see it going well once it gets going.

I only have about 40 left...plus I've brought a new product line (well changed one I had) but it's all reinvesting so it's good.

Re the holiday, we *could* go away for a weekend I guess but were always so busy at weekend catching up on things and the week in Dec is the only time he'll be off so Jan/Feb would only be good for like one night away rather then a short break.

I think for now..just let it build I did say I was going to take £100 a month so will carry that on...or take £50 and save £50 kind of thing.

morocha

Yes, I understand. There is another forum , a self employed one where many people say they sell on Ebay and Amazon and are doing quite well and have found their niche but that it was a hard thing to do as the competition is fierce with , mobiles cases, tablets cases and the like...

Kayalana99

You'd have to be mad to start selling mobile cases and things in the market that it is....my partner brought a really good one for £2.69...?! including all postage etc....

Many thanks for all your help guys

droopsnoot

I guess some of these must be loss-leaders. I bought a pack of stainless steel bolts off eBay a few weeks back, paid 99p including postage, arrived in a brand new padded envelope (25p in bulk perhaps?), with £1.17 postage on. So before they bought the bolts and factored in time to pack and take to PO, they've lost at least 43p and would have been better off not making the sale.

Anyway, that's a whole different discussion, sorry for dragging off topic.

cazmanian_minx

How big was the padded envelope? I pay £24.49 for 500 A/000 - less than 5p each, including delivery to the Highlands. But yes, you're absolutely right, a lot of the big sellers' economics probably rely on a certain percentage of people buying more than one item per transaction.

morocha

£25 for 500 envelopes and delivery ? would you mind saying what company you use?

jeanniet

In life anything is possible when you put your mind to it. Achieving a million dollars is not that difficult these days. I am in my 50s and still trying to get there.

cazmanian_minx

morocha wrote: »

£25 for 500 envelopes and delivery ? would you mind saying what company you use?

Not at all, it's an excellent service:

http://www.ebay.co.uk/itm/300647165413?_trksid=p2055119.m1438.l2649&var=600032901599&ssPageName=STRK%3AMEBIDX%3AIT

They're drop-shipping via Office Depot, so I guess if you use enough to get an account with OD, that would be even cheaper.

I got the price wrong as well, it's £22.49 for 500 A000! All sizes and quantities are available on that listing.

morocha

Thanks a lot ! I thought the poundshop was cheap !! Never crossed my mind to buy envelopes on Ebay.