Best way for me to make money

will369

Hi guys,

I am able to get 40% off Amazon at mom. What is the best items to buy and then sell to make some money?

Anu suggestions?

thanks

DomRavioli

Nobody will tell you that.

Do your own research.

mikep22

I would imagine you would need a much bigger discount then 40% to be able to make any serious money out of this...you need to add on things like, seller fees, postage, wrapping - and also that there will be many places able to undercut you (because they buy large amounts in bulk)....in terms of buying and selling online, there is a lot of information available out there, and no set "magic" formula (otherwise everyone would do it) - you need to be in the right place, at the right time, with the right products. Think about the products you are interested in selling and check to see how much it would cost you - and judge how many you are likely to sell (I think there are tools on ebay to help with this). Then you can come to a conclusion as to whether its worthwhile.

will369

ok, thanks, I thought 40% would be enough to make some profit

vegasvisitor

will369 wrote: »

Hi guys,

I am able to get 40% off Amazon at mom. What is the best items to buy and then sell to make some money?

Anu suggestions?

thanks

You buy an item valued at £10, for £6. To attract a buyer you sell it at £9. You pay £2.60 to post it, then 40p for an envelope. Your profit is gone. Think about this carefully. Are there actually any items you could sell at a profit? And if you did, you would need to register as self-employed and pay tax and possibly National Insurance. too.

fewgroats

It's probably better to look for misspelt items or try sites which give stuff away, or even your local Poundland?

mikep22

will369 wrote: »

ok, thanks, I thought 40% would be enough to make some profit

With a 40% discount like that you will make some profit, by virtue of paying less for items then you would elsewhere. If an item is £10, and you buy it for £6 you have effectively made £4 profit....

In terms of selling them on afterwards...you need to remember the bigger companies, like an argos, amazon, etc buy these products in their thousands and will have paid less then you will have for it. Their profit margins per product are actually very small, so if they are selling an item for £10, they are probably making around £1 profit - despite having lower overheads per item then you will.

Christine.Hamilton_2

Check out Terrapeak, gives you an idea of what's hot right now. Hope this helps and best of luck with your search. Cx

System

What about 'dropshipping' or that sort of thing. You list items on eBay or the like, then when you sell one you buy it from Amazon and they post it direct to the buyer. That way you get proof of delivery and don't pay for postage.

I don't do this personally so you'd need to look into it