Business challenge - £xxx 2015
Discussion
Yes, i'm in.
Have been researching stuff to buy and resell on ebay and have spotted an area theres a decent return in.
Have bought £500 of stock over the last week in four different batches, so will see how it pans out. One batch i bought locally, the other three are being delivered from three different sellers hopefully by mid week next week.
My stretch targets are 40% net profit, and to turn the stock over twice before the end of jan.
That would mean £700 by mid month and reinvesting ALL that in stock and £980 returned by the end of the month.
Have been researching stuff to buy and resell on ebay and have spotted an area theres a decent return in.
Have bought £500 of stock over the last week in four different batches, so will see how it pans out. One batch i bought locally, the other three are being delivered from three different sellers hopefully by mid week next week.
My stretch targets are 40% net profit, and to turn the stock over twice before the end of jan.
That would mean £700 by mid month and reinvesting ALL that in stock and £980 returned by the end of the month.
)
I'm in too.
Got our first child due in a few weeks, so I have an idea for a low maintenance business to tick along in the background with the occasional nudge from me. I've been mulling it over for about 6 months already but have only started working on it in the last few days so it falls in the 2015 category for sure. Will most likely be for considerably less than £500 however, but who knows.
Got our first child due in a few weeks, so I have an idea for a low maintenance business to tick along in the background with the occasional nudge from me. I've been mulling it over for about 6 months already but have only started working on it in the last few days so it falls in the 2015 category for sure. Will most likely be for considerably less than £500 however, but who knows.
daemon said:
Well first batch of £90 of stock bought last sunday sold for £173.91, so probably around £145 after fees, so well pleased.
Thats roughly 60% net profit.
More stock coming and due mid week onwards so should be able to get more listed and resold by the weekend again.
Turnover 173Thats roughly 60% net profit.
More stock coming and due mid week onwards so should be able to get more listed and resold by the weekend again.
Profit 55
Gross profit margin about 30 percent. Not sure where you get 60 from.
Good start though.
Edit as I can't add up either!
Edited by STURBO on Monday 5th January 18:29
I've got an idea that I'm exploring, how do the rules work though? Is it a case of you spend max £500 and then have to generate profits from that £500 before you can put more back in?
I might be able to get to design finished and prototype stage for the £500 but won't have any sold, I will be in front of suppliers though so do advance orders from suppliers count?
I might be able to get to design finished and prototype stage for the £500 but won't have any sold, I will be in front of suppliers though so do advance orders from suppliers count?
MrSparks said:
I've got an idea that I'm exploring, how do the rules work though? Is it a case of you spend max £500 and then have to generate profits from that £500 before you can put more back in?
I might be able to get to design finished and prototype stage for the £500 but won't have any sold, I will be in front of suppliers though so do advance orders from suppliers count?
If you have a serious concept on the go with good projections, then I think you should probably just crack on without the constraints of a forum-based game of fun.I might be able to get to design finished and prototype stage for the £500 but won't have any sold, I will be in front of suppliers though so do advance orders from suppliers count?
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