Are you an expert or professional at (insert product here)?
Do you know (insert product here) like the back of your hand?
Can you break down (insert product here) into its individual components and put it all back together again?
DO YOU WANT TO MAKE SOME COLD HARD CASH? Remember, cash is king ladies and gentlemen.
This is not a ‘get rich quick’ process and probably not Fastlane, however, if you need some cash to pay the bills or fund your Fastlane journey I will give you a tool to throw in your arsenal.
Requirements:
· Knowledge about something
· A sprinkle of time (this will vary based on the product)
· The drive to make cash
Step 1: Select Product
You need to find something that you have significant knowledge of. I recommend products that businesses buy. Why you ask? Well, $500 to a business is a drop in the bucket compared to $500 in your personal life.
Example: 3D Printers. I can take apart and put together industrial 3D printers in my sleep. In fact, I know the Stratasys 3D printers to a tee. Commercial, Professional, & Industrial 3D Printers | Stratasys
Step 2: Source Product
Find a way to get yours hands on broken, used, second-hand products.
Your money is made when you buy. This wise verbiage is true, believe it.
Potential sources could include
· eBay
· Craigslist
· Set up a website to buy back products
· LinkedIn campaign to buy back products points to website (remember this is a business product, right?)
Example: I just went on eBay and found a Stratasys Dimension printer for $500. I know I can sell it for $2k in working condition. I’ll make an offer of $200 to the seller. Seller accepts $200.
*Don’t be afraid to lowball. A lot of sellers have no idea what they’re selling. That’s your job*
Step 3: Fix, Repair, and Polish Product OR Part-out the product OR Combine the two!
There are 3 paths you can take here:
1. Get the product in fully functional condition. Polish that thing until it looks great and take excellent pictures. Is there glue spilled on the cover? Get it off! Put some elbow grease into it. Is the buyer going to pay for something that looks nice or something that looks like its been through the ringer?
2. Part-out the product. Disassemble the product into its components and sell all of the components. There is significant cash in doing so. When a NIC card goes bad on a product, customers are looking to buy that NIC card immediately at a premium. They don’t think “hey, let’s buy a whole parts printer for $50 that includes the NIC card”. They think “hey I need a NIC card now, I’ll buy this NIC card for $250”. They would rather spend the $$$ to be assured what they’re getting will work. For example, THINK ABOUT THIS; if a robotic assembly unit is down on Fords production line, they’re losing $100k each minute that robot is down.
3. Combine the two! Get the printer working and clean it up. Remove the NIC and sell for $250. Remove the special sensor that is an add-on item and sell for $500. Now sell the printer itself for $1950.00.
Example: My Stratasys Dimension was sold as-is and it does not print because this $20 part is malfunctioning. I replaced the $20 part, did test prints, and cleaned it up.
OR
The main board on this Stratasys Dimension printer sells for $500 on eBay. The NIC card sells for $250. Wow! That’s way more $$$ than I paid for it and that’s only 2 parts.
OR
Combine the two! Remove some non-essential parts and sell them separately. Then sell the fully functional 3D printer.
Step 4: Sell and buy MegaMillions tickets for a change to be a billionaire. (joking on the megamillions of course)
Sell the whole printer or parts on eBay, and any combination thereof to make cold hard cash.
Example: 3D printer ($2k), NIC card ($250), special sensor ($500) = $2750 minus selling fees.
Cost of printer = $200
Congrats! You just made $2550 minus selling fees!
Needs proof that this works?
I am doing currently doing this with printers.
Here are some real-life personal examples I can provide:
1. I bought a new old stock printer on eBay for $200. I took it out of the box and took pictures, that’s it. I sold it a few weeks later on eBay for $1k. Profit = $800
2. I buy a common printer on eBay for $100/ea. I remove components and sell them for $600 total. I then sell the printer with the removed components for $250. Sales $850 – expenses $100 = $750 in my pocket. I’ve repeated this multiple times.
Please remember I do not guarantee anything. This is me sharing my experiences with a side hustle I’ve had success with. I am not responsible for any actions you take in regard to this post.
Do you know (insert product here) like the back of your hand?
Can you break down (insert product here) into its individual components and put it all back together again?
DO YOU WANT TO MAKE SOME COLD HARD CASH? Remember, cash is king ladies and gentlemen.
This is not a ‘get rich quick’ process and probably not Fastlane, however, if you need some cash to pay the bills or fund your Fastlane journey I will give you a tool to throw in your arsenal.
Requirements:
· Knowledge about something
· A sprinkle of time (this will vary based on the product)
· The drive to make cash
Step 1: Select Product
You need to find something that you have significant knowledge of. I recommend products that businesses buy. Why you ask? Well, $500 to a business is a drop in the bucket compared to $500 in your personal life.
Example: 3D Printers. I can take apart and put together industrial 3D printers in my sleep. In fact, I know the Stratasys 3D printers to a tee. Commercial, Professional, & Industrial 3D Printers | Stratasys
Step 2: Source Product
Find a way to get yours hands on broken, used, second-hand products.
Your money is made when you buy. This wise verbiage is true, believe it.
Potential sources could include
· eBay
· Craigslist
· Set up a website to buy back products
· LinkedIn campaign to buy back products points to website (remember this is a business product, right?)
Example: I just went on eBay and found a Stratasys Dimension printer for $500. I know I can sell it for $2k in working condition. I’ll make an offer of $200 to the seller. Seller accepts $200.
*Don’t be afraid to lowball. A lot of sellers have no idea what they’re selling. That’s your job*
Step 3: Fix, Repair, and Polish Product OR Part-out the product OR Combine the two!
There are 3 paths you can take here:
1. Get the product in fully functional condition. Polish that thing until it looks great and take excellent pictures. Is there glue spilled on the cover? Get it off! Put some elbow grease into it. Is the buyer going to pay for something that looks nice or something that looks like its been through the ringer?
2. Part-out the product. Disassemble the product into its components and sell all of the components. There is significant cash in doing so. When a NIC card goes bad on a product, customers are looking to buy that NIC card immediately at a premium. They don’t think “hey, let’s buy a whole parts printer for $50 that includes the NIC card”. They think “hey I need a NIC card now, I’ll buy this NIC card for $250”. They would rather spend the $$$ to be assured what they’re getting will work. For example, THINK ABOUT THIS; if a robotic assembly unit is down on Fords production line, they’re losing $100k each minute that robot is down.
3. Combine the two! Get the printer working and clean it up. Remove the NIC and sell for $250. Remove the special sensor that is an add-on item and sell for $500. Now sell the printer itself for $1950.00.
Example: My Stratasys Dimension was sold as-is and it does not print because this $20 part is malfunctioning. I replaced the $20 part, did test prints, and cleaned it up.
OR
The main board on this Stratasys Dimension printer sells for $500 on eBay. The NIC card sells for $250. Wow! That’s way more $$$ than I paid for it and that’s only 2 parts.
OR
Combine the two! Remove some non-essential parts and sell them separately. Then sell the fully functional 3D printer.
Step 4: Sell and buy MegaMillions tickets for a change to be a billionaire. (joking on the megamillions of course)
Sell the whole printer or parts on eBay, and any combination thereof to make cold hard cash.
Example: 3D printer ($2k), NIC card ($250), special sensor ($500) = $2750 minus selling fees.
Cost of printer = $200
Congrats! You just made $2550 minus selling fees!
Needs proof that this works?
I am doing currently doing this with printers.
Here are some real-life personal examples I can provide:
1. I bought a new old stock printer on eBay for $200. I took it out of the box and took pictures, that’s it. I sold it a few weeks later on eBay for $1k. Profit = $800
2. I buy a common printer on eBay for $100/ea. I remove components and sell them for $600 total. I then sell the printer with the removed components for $250. Sales $850 – expenses $100 = $750 in my pocket. I’ve repeated this multiple times.
Please remember I do not guarantee anything. This is me sharing my experiences with a side hustle I’ve had success with. I am not responsible for any actions you take in regard to this post.
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