Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.
Free registration at the forum removes this block.
I am glad that I could be of some help! Good job taking action and getting things ordered!
1. I can't recommend a specific category without giving away specific products. I can say that finding products that are higher profit but less sales per month is the way I am starting to take my business. I sold some items over Christmas time that were blowing out the doors. I ordered about $15,000 more of the few different lines and sales have slowed to a crawl. Not a good feeling to have that much product sitting in my garage and slowly trickle selling. This is why I am trying to go to products that are always in demand no matter what time of the year.
Nope I never have lol. I have a book with what I paid for each item in it and I keep a daily log of how much profit I made that day. I then withdraw that amount from paypal (for eBay) each day. About once i week I will take out extra money from sales.
The only strategy is time spent researching. I prefer products with less than 10 competitors but I am willing to enter markets with more if the margins are right. If the cheapest seller of that product has margins of 200%+ then I am willing to enter despite more competitors.
What I was saying was if I am looking up a product to sell and I can purchase it for $20 and the cheapest person has it for sale for $60 then I am looking at tripling my money minus fees and shipping costs. That is good enough margins for me to do it even if there are more competitors.
I prefer using fixed price listing with a quantity simply for the convenience. I have also noticed the anomaly of auctions selling for higher than fixed price listings. I believe it is just because people get emotionally attached to a specific item they have bid on or they simply don't do any research before purchasing the item. I have had the same item end about 8 hours apart and one sells for above my fixed price listing and one sells below it. It honestly makes no sense but consumers can be very odd in their buying habits and strategies.
There is nothing inherently wrong with selling things with electrical components there is just a lot of scammers in phones, tablets, computers, etc. I actually looked into doing external hard drives but they were selling for such a cheap price the margins weren't there unless ordering thousands at a time.
Don't pay anyone on Fiver to "create" codes for you. I got mine from cheap-upc-barcode.com and a few other members have as well.
Beat me to it great job helping out! Rep transferred
My sales shot up when I started doing it full time around August 2013. Up until that point I was just selling things here or there and not really treating it like a business. In August I quit my job and started working on it full time. I am not even at my first full year of running it as a business so I cant really say what my revenue will do.
It's amazing how some people ruin it for the rest....
i think they make it up on volume. (LOL!) I think they don't - like MLM, most are losers. (coming from a guy who did drop shipping, etc. in the past.)
not to be trite, but - "if it was easy..."
I agree it is pushing through the process of finding products that is the hard part. Once you find products that don't have idiots in them you can be set for months or years. I have sold some of the same product lines for the entire time I have been selling (3+ years). It's finding those reliable products that really make it a potential gold mine.
Great idea using a local thrift shop as your supplier! The thrift shops near me never have anything worthwhile but if yours do that's awesome!
Join Fastlane Insiders.
