• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

GOLD! How I earned money (hustle arbitrage) to start a real business.

Discussion in 'Hustles, Freelancing, Bootstrapping' started by B_Mac, Dec 20, 2017.

  1. B_Mac
    Online

    B_Mac Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

    Messages:
    30
    Likes Received:
    174
    Joined:
    Apr 10, 2017
    Gender:
    Male
    Location:
    Southwest Virginia
    Rep Bank:
    $1,807
    That's interesting. I spent quite a lot of time thinking how it would be scalable. I had actually found sources for truckloads of used appliances. I thought you'd probably need a central repair point, and then repaired appliances would go out to retail points. Also thought transportation costs would eat up alot of money and would make profitability difficult.

    I thought it would make a great franchise, if you could make the costs make sense, and wondered why no one ever tried to franchise it.
     
    minivanman likes this.
  2. B_Mac
    Online

    B_Mac Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

    Messages:
    30
    Likes Received:
    174
    Joined:
    Apr 10, 2017
    Gender:
    Male
    Location:
    Southwest Virginia
    Rep Bank:
    $1,807
    Why did you quit after getting a job?
     
    minivanman likes this.
  3. Edwin Fernandez
    Offline

    Edwin Fernandez Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    21
    Likes Received:
    36
    Joined:
    Feb 7, 2018
    Gender:
    Male
    Location:
    Boston
    Rep Bank:
    $144
    I wasn't thinking big at that time I suppose. I was focusing on the negatives of the business model, like the travel, and the hassle of handling the furniture and appliances. At the time I didn't think it could be a business that would produce full time income, I viewed it as a temporary hustle.

    But the bottom line is I was scared because I just had a baby and I was desperate for a stable income. Once getting the job I had a massive learning curve getting up to par with my software skills, so that consumed all my time.

    I'd do it again if I had to though.
     
    minivanman likes this.
  4. minivanman
    Offline

    minivanman Gold Contributor Speedway Pass

    Messages:
    520
    Likes Received:
    1,203
    Joined:
    Mar 16, 2017
    Gender:
    Male
    Location:
    DFW
    Rep Bank:
    $6,707
    I might put in 30 hours a week and this year my taxable income will probably be $75,000 after everyone is paid and all is said and done. But, connecting this answer with what I was going to tell B Mac, I have a perfect situation and have a few things figured out that I don't think any others do. For example, I can only use a small percentage of 1 sales channel that I have because it works so well. I've figured out how to manipulate a certain social media so I can basically do what I want. I can post 80 ads a day if I want.... problem is, I do not want to hire a delivery guy so I basically can't post that many because my sales would be sky-high.... but I could if I wanted. That small percentage of my ideas to market bring in so many sales it's hard for me to keep up. And no, Craigslist is not what I'm talking about. I put about 5 ads a year on Craigslist. And no, I'm not breaking the rules on this social media platform. I actually spoke with them and they basically told me if it's working.... keep on keepin on. The reason I spoke with them is because I didn't want to be relying on this and then get booted. I also have a leg up on supply. Where lots of guys pay $70-$90+ per washer or dryer, I get them for $40-$50 each. It's really tempting to make it a big operation but I really love no stress, staying up till 2am and getting up at 11am. We don't 'need' the money.... we can only do so much with so much money, I just do it because it's fun and gives me something to do. Oh yeah, if I ever do get the wild hair to franchise this, we would add on refrigerators, stoves and dishwashers which would bring in o-so-much more profit. I actually bought a brand new refrigerator today for $400 delivered and will sell it for $900 pick up only. No type of delivery because I only lift light stuff.
     
    Edwin Fernandez, Magneto C and B_Mac like this.
  5. B_Mac
    Online

    B_Mac Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

    Messages:
    30
    Likes Received:
    174
    Joined:
    Apr 10, 2017
    Gender:
    Male
    Location:
    Southwest Virginia
    Rep Bank:
    $1,807
    Can you get back into it now? Yes, the traveling can be a headache, but if you don't want to deal with large items like appliances and furniture, you don't have to. You aren't wrong for taking on a job to have consistent income, especially since you had a kid. I read the first post of your intro, what's your plan to not be like the 63 year old dude beside you who can't quit? You don't have to make this a permanent thing if you don't want to. Maybe the job pays enough to take care of your responsibilities and put something towards starting a business, but if not, I think this is a great way to get some money that can fund your "Don't be that guy" plan.
     
    Last edited: Feb 13, 2018
    Edwin Fernandez likes this.
  6. Edwin Fernandez
    Offline

    Edwin Fernandez Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    21
    Likes Received:
    36
    Joined:
    Feb 7, 2018
    Gender:
    Male
    Location:
    Boston
    Rep Bank:
    $144
    Thanks for the reply B_Mac. My momentum has been driving towards software/web stuff. I am trying to identify where I can serve people here, and I am finding a lot of great stuff in these threads. So far, I created 3 websites for friends and family who have their own hustles to help them and myself simultaneously.

    However, honestly, I cannot say I have a solid plan right now, the road from where I am now to my desired destination is not really clear. My only goal is to get an actual paying client doing something by this summer. And then adapt from there. Vague as f*** I know but I am desperately working on it…


    @minivanman those are good numbers for ~30 hours/week.
     
  7. minivanman
    Offline

    minivanman Gold Contributor Speedway Pass

    Messages:
    520
    Likes Received:
    1,203
    Joined:
    Mar 16, 2017
    Gender:
    Male
    Location:
    DFW
    Rep Bank:
    $6,707
    I'm retired, I wouldn't really 'work' for much less. Oh, I guess I forgot the kicker speaking of the numbers..... I usually take off 1 week a month. lol
     
    Shepherd and Edwin Fernandez like this.
  8. Shepherd
    Offline

    Shepherd Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    74
    Likes Received:
    161
    Joined:
    Jul 10, 2017
    Gender:
    Male
    Location:
    Elizabeth, IN 47117
    Rep Bank:
    $1,350
    Color me interested if you ever have the inclination to mentor, minivanman.
    As a guy with a truck, storage space and a decent back, I'm really tempted to throw my hat in the ring and give this a shot. My time is at a premium, but man I see the potential and love to hustle.
     
  9. minivanman
    Offline

    minivanman Gold Contributor Speedway Pass

    Messages:
    520
    Likes Received:
    1,203
    Joined:
    Mar 16, 2017
    Gender:
    Male
    Location:
    DFW
    Rep Bank:
    $6,707
    You don't need a good back. I keep all the washers/dryers on blue fiberglass 4 wheel furniture dollies so they roll around where ever I want them to be. I have two 2-wheeled dollies that are perfect for the job. Most every customer comments on one dolly or the other. If they come to pick a set up, they love that I have them on 4 wheel dollies. If there are no stairs involved and I deliver, I use my $19.99 file dolly that folds up. If there are stairs involved I use the big dolly, which technically has 4 wheels but I only use 2. Either way.... no matter if they are male or female, they can buy a $499 washer/dryer set but they are usually more interested in the dollies than their washer/dryer. lol
     
    Dramolion and ruzara5 like this.
  10. Zefty
    Offline

    Zefty New Contributor Read Millionaire Fastlane

    Messages:
    12
    Likes Received:
    5
    Joined:
    Feb 14, 2018
    Gender:
    Male
    Location:
    India
    Rep Bank:
    $28
    is there a way for me to do the buying and the fliping of the product without meeting the seller or the buyer since i live in a different country ? you said i need to go and meet the seller to collect the products. is there a way around this? @B_Mac
     
    Last edited: Mar 17, 2018
    Edwin Fernandez likes this.
  11. B_Mac
    Online

    B_Mac Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

    Messages:
    30
    Likes Received:
    174
    Joined:
    Apr 10, 2017
    Gender:
    Male
    Location:
    Southwest Virginia
    Rep Bank:
    $1,807
    Do you have a local for sale paper or website in your country? You can still meet people wherever you are. If you are trying not to meet people anywhere, I guess you could try buying and selling on eBay, although I think that’s different strategies than flipping locally.
     
  12. Zefty
    Offline

    Zefty New Contributor Read Millionaire Fastlane

    Messages:
    12
    Likes Received:
    5
    Joined:
    Feb 14, 2018
    Gender:
    Male
    Location:
    India
    Rep Bank:
    $28

    ok,thanks. i will try eBay.although there is a service in my country like Craigslist but am sure i will make very little profit because they will price the product really down this is why i want to do the buying and selling in a different country. i will try eBay.thanks@B_Mac
     
  13. Zefty
    Offline

    Zefty New Contributor Read Millionaire Fastlane

    Messages:
    12
    Likes Received:
    5
    Joined:
    Feb 14, 2018
    Gender:
    Male
    Location:
    India
    Rep Bank:
    $28
    is there a trusted service in usa that can help meet the seller (face-to-face) and verify if the product is working ok and then sell it to the buyer for me (face-to-face) while i pay the service commission ? @B_Mac

    i can't find it on google
     
    Last edited: Mar 18, 2018
  14. ZCP
    Offline

    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,799
    Likes Received:
    5,105
    Joined:
    Oct 22, 2010
    Gender:
    Male
    Location:
    Woodstock, GA
    Rep Bank:
    $18,180
    Business opportunity with @Zefty !!
    Who will reach out and make it happen?
     
    Zefty and GoGetter24 like this.
  15. LittleWolfie
    Offline

    LittleWolfie Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    272
    Likes Received:
    132
    Joined:
    Jun 28, 2018
    Rep Bank:
    $257
    That's impressive however you couldn't have funded 50k. Everyone thinks of the 50k idea, and they don't have the funds for it, and they are right.

    They can't turn 500 into 5000 or 50 into 500 or 5 into 5p though, because then they can do that first them the disruptive 50k idea. If I figured out a repeatable $5 into 50 route, I can do it ten times a week and have enough money in 2 years for the next plan. If I figured out a $500 to $5000 along the way it is even quicker.
     

Share This Page