Need an extra income - help please

bebay

We need some extra funds and ebay seems like one option - but where do we source out goods to sell on? We've already done the clearout at home so that avenue is now pretty much closed. I don't expect everyones secrets to be posted here for all to see, but some guidance where to start looking would be much appreciated. I see all these "packages" of advice for sale on ebay about how to make money but surely these are a scam?!

d0cketts

Yes they are a scam so don't bother buying them, as far as finding suppliers go it depends what you want to sell do you have any ideas?

Hintza

You won't get much help on specific things but what you have to do or be willing to do is put in a lot of time and effort and research your market. You sometimes might have to take a gamble to get a good return.

Selling is not easy and you will make some grave errors.

The best way to start is either in an area you have knowledge in or an area that you are intersted in. My current lines were from items I wished to buy personally and found out that there were some opportunities to make money.

You have to speculate to accumulate but take it easy in the early days until you have built up your confidence and expretise in an area.

Reseach, research and more reseach will eventually yield results but to be honest if I find a new thing to sell once or twice a year I will be lucky. On the odd occasion I will find an item but it will be a one off flash in the pan now do buy 5 or do I buy 100 is my normal conundrum. When realise I should have bought 100 they are usually well gone.

An example of knowing your market might be in the PC etc games market an expert will be able to walk into a shop spot a special and know straightaway whether it is cheap enough to make a turn on.

A few years ago Argos were selling Aquadraws at £4.99 I travelled to all my local shops and bought them up and sold them for prices ranging from £15-£20. But in a week they were all sold out and that was the end of that.

FloFlo

Its hard work finding stock that will sell, then its hard work listing and posting. You need to do the homework yourself.

bebay

Open to most ideas. My interests are baby/child related and pets but wherever there is profit to be made. Would prefer things I can post in reasonable sized packages rather than big things.

Hintza

bebay wrote: »

Open to most ideas. My interests are baby/child related and pets but wherever there is profit to be made. Would prefer things I can post in reasonable sized packages rather than big things.

"Pets" reminds me of an interesting conversation I had when I decided that dog cages were the way forward. I spoke to a manufacturer in China about order size and suggested 200 would be a good number to start the ball rolling. They came back and said that I had maybe misunderstood and wanted to know how many 20' containers I required..eeek!!

soolin

Looking for that source of easily stored and easily posted items is like looking for the holy grail!

Soo

rare_stuff

I think these boards see a post like yours at least once a week, and the advice you have been given so far is the norm really. It's worth seeking the 'holy grail' but if it ever gets posted there will be so many people take the advice that the market for that will be swamped within a week an very little profit left in it.

As has been said, an area that you have knowledge of or interest in is a great start and don't go making investments with money that you can't afford to kiss goodbye to, as not all investments will pay off.

You may have to look at a more specialist area to make money in than baby & pet stuff as these are quite oversubscribed markets already. You will also be competing against many ebayers that have very low costs as it is pocket money to many thousands of stay at home mums who aren't bothered about making the minimum wage and some who probably don't realise how much money they aren't making until it's time to fill in a tax return! (you may also want to look at the tax implications before you start up to!)

rls1973

rare_stuff wrote: »

I think these boards see a post like yours at least once a week, and the advice you have been given so far is the norm really. It's worth seeking the 'holy grail' but if it ever gets posted there will be so many people take the advice that the market for that will be swamped within a week an very little profit left in it.

As has been said, an area that you have knowledge of or interest in is a great start and don't go making investments with money that you can't afford to kiss goodbye to, as not all investments will pay off.

You may have to look at a more specialist area to make money in than baby & pet stuff as these are quite oversubscribed markets already. You will also be competing against many ebayers that have very low costs as it is pocket money to many thousands of stay at home mums who aren't bothered about making the minimum wage and some who probably don't realise how much money they aren't making until it's time to fill in a tax return! (you may also want to look at the tax implications before you start up to!)

ooh i feel a bit patronised now.

rare_stuff, will you come round and do my pesky tax return for me, as i just don't think i can get my fluffy little head round it. :rotfl:

Contains_Mild_Peril

I buy vintage items from local car boot sales, charity shops etc to sell on, but it's a lot of work when all my items are different and need photographing, measuring, describing etc. indiividually, and it also means I hoard a variety of recycled packing materials which takes up quite a bit of space too. It does have the advantage of being able to start with minimal outlay.
If you see any old leather school satchels going cheap, buy them - those are still good sellers, but not so easy to find. Vintage toys in good condition can also do well, especially complete sets with little bits that usually get lost.

rose_sparky

I buy lots from car boot sales too, but with all this talk on here of keeping records of sales and purchases, how do you get on with items bought from boot sales?