G
GuestUser140
Guest
Hi guys,
This is going to be of considerable length but well worth it for many.
After reading on this forum, reading TMF and especially Ryan's killer topic "A Hustler's Guide to Buying and Selling Everything", I started out likewise 6 months ago with $1250 to my name.
The general Goal? To prove that hustling can be fastlane. Scale it.
This thread will document my journey, ask me anything you want.
- I bought all kinds of electronics below market value and flipped them on Craiglist. - Started focusing on particular high-end devices that sell well.
- Contacted wholesalers, kept flipping the products on CL at a mark-up. Much less hassle than buying separately from private individuals.
- Currently (6 months later) buying $18k worth of stock weekly, sell at 15-35% margin. Last week's net profit was $3000. Invest everything back into it. Next week will be a $20k+ order with around $3750 net profit. Got a wholesaler sales rep. who's willing and able to take me to $150,000+ orders/week, at which point I'd profit $30,000/week.
- Started putting ads up in a different city, allocating one day per week to bundle all deals in that city.
I spend 15-20 hours/week on this, but honestly don't count the hours. I'm currently making a pre-tax profit of $10,000/month with no signs of slowing down.
Good money and I'm grateful for it every day, but I'm hungry and nothing is enough till I'm free. Also, it's not fastlane yet (need SCALE & TIME).
My specific Goal? I'm 21 years old and I want to be worth $500,000 15 months from now.
At a $25,000 profit per month, the business would have made $375,000 profit in 15 months, and it should be worth $300k+ on its own. That's $700,000 before taxes.
The Next Steps?
1. I will put up CL adds in all the big cities in a 100 mi radius to make sure stock keeps selling fast. REALIZING THIS ISN'T A SELLABLE BUSINESS, I NEED TO OPEN RETAIL LOCATIONS.
2. Open a highstreet retail location. If it goes well, hire & train an employee (or 2). Keep selling on CL, I have nothing to lose.
3. Work ON the business instead of IN it, divorce it from my time. Open more retail locations. Reinvest everything. Ultimately, sell it all.
Long a$$ post, but may this become an inspiring journey and a thread filled with golden nuggets.
I consider myself a beginner, but ask me anything you want to know.
My question:
Any guys here who experienced success with a retail location? What are the pitfalls?
Any pointers on how to open one?
All the best,
Michael
This is going to be of considerable length but well worth it for many.
After reading on this forum, reading TMF and especially Ryan's killer topic "A Hustler's Guide to Buying and Selling Everything", I started out likewise 6 months ago with $1250 to my name.
The general Goal? To prove that hustling can be fastlane. Scale it.
This thread will document my journey, ask me anything you want.
- I bought all kinds of electronics below market value and flipped them on Craiglist. - Started focusing on particular high-end devices that sell well.
- Contacted wholesalers, kept flipping the products on CL at a mark-up. Much less hassle than buying separately from private individuals.
- Currently (6 months later) buying $18k worth of stock weekly, sell at 15-35% margin. Last week's net profit was $3000. Invest everything back into it. Next week will be a $20k+ order with around $3750 net profit. Got a wholesaler sales rep. who's willing and able to take me to $150,000+ orders/week, at which point I'd profit $30,000/week.
- Started putting ads up in a different city, allocating one day per week to bundle all deals in that city.
I spend 15-20 hours/week on this, but honestly don't count the hours. I'm currently making a pre-tax profit of $10,000/month with no signs of slowing down.
Good money and I'm grateful for it every day, but I'm hungry and nothing is enough till I'm free. Also, it's not fastlane yet (need SCALE & TIME).
My specific Goal? I'm 21 years old and I want to be worth $500,000 15 months from now.
At a $25,000 profit per month, the business would have made $375,000 profit in 15 months, and it should be worth $300k+ on its own. That's $700,000 before taxes.
The Next Steps?
1. I will put up CL adds in all the big cities in a 100 mi radius to make sure stock keeps selling fast. REALIZING THIS ISN'T A SELLABLE BUSINESS, I NEED TO OPEN RETAIL LOCATIONS.
2. Open a highstreet retail location. If it goes well, hire & train an employee (or 2). Keep selling on CL, I have nothing to lose.
3. Work ON the business instead of IN it, divorce it from my time. Open more retail locations. Reinvest everything. Ultimately, sell it all.
Long a$$ post, but may this become an inspiring journey and a thread filled with golden nuggets.
I consider myself a beginner, but ask me anything you want to know.
My question:
Any guys here who experienced success with a retail location? What are the pitfalls?
Any pointers on how to open one?
All the best,
Michael
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