BUY AND SELL PRODUCTS
What's it all about?
This is a very easy side business which can be started straight away with no start up costs. All you need is some cash to buy the products and an eBay account.
The business model is simple. You attend car boot sales and local charity shops to source products at good prices and then list them on ebay to make a profit.
There is a very common phrase in business which goes "You make your money when you buy, not when you sell". Nothing could be more true than in this business venture. The secret to becoming successful in this line of business is getting a good price when you buy the product to sell. Therefore, good negotiation skills are a necessity with this business.
Here are some top tips for getting started in this business venture:
1. Make a business Plan including how many products you intend to buy at the car boot sale and the % mark up you intend to make on the product.
2. Always Haggle. Don't be afraid to do this. If someone is asking for £5 for an item, nine times out of ten they will be happy to take £3 for it.
3. If possible, google the product on your phone to check the resale value.
4. Avoid very heavy items as postage costs make this prohibitive to make a profit selling on eBay.
5. Use a site such as MyParcel to get the best deals on sending packages.
Check out Nic and Andrea Hills channel on Youtube for some great tips for this side business: