Worked Example:
Attend the Top Drawer event and find a clock manufacturer and a jewellery supplier. Both will have products on display and trade price lists. Ask what are the most popular sales-wise and which are the fastest-moving, cheapest items, just so you can test sales levels out. Go with their recommendations and consider buying a small number of other products that you also feel will do well. You will buy them at trade price, leaving you plenty of margin to mark up the price and resell them for a good profit via eBay. Start out by selling them for a relatively small/medium profit to see how popular the products are with your eBay customers.

Even buying clocks at £15 and reselling them for £20-£22 will make you a steady £5-£7 profit per item, and only selling 1 per day still makes you £150-£212 per month in profit, and of course you’re aiming at selling more than 1 a day. Aim to sell 1 of each line per day, for example you may have 5 or 6 different types of clocks, plus 5 or 6 lines of jewellery that will also fetch £5 profit per item, so 11-12 lines in total.

Now half what you are expecting to sell, say down to 1 of every other product line, so that will be 5 or 6 single item sales in total per day. Multiply your profit per item by the number of items you intend to sell and you will reach a figure of £25-£35 per day profit.

Over the course of a month, these daily profit figures will vary up and down, but ultimately at the end of the month you should end up with around £1000 in profit based on your months trading activities. You can continue to scale the business up introducing more product lines and increasing sales volumes to generate a full-time income over the course of 4-6 months.

 

Click NEXT for the following business type - Buying and selling products from auction houses in the UK

<  LAST    -   START    -   NEXT  >