Asayus
Regular Member
- Jan 1, 2016
- 228
- 108
Decided to drop a method for my 200th post. Well, more of a theory really because I do not do this, but there is no reason that this would not work. This does require some investment, but it is super simple.
Word of warning: You may end up in a situation where you end up with dead stock if you cannot find buyers, or receive defective inventory. All I can say is choose your products and sellers wisely, and assume that every investment opportunity comes with a risk.
I also want to apologize in advance as this method will most likely not work outside of North America and similarly established countries as people in these countries can afford to pay for convenience and useless products.
The Method
1) Purchase products that people would not necessarily go shopping for, but may pick up anyway if they were cheap enough, ie. wireless charging pads, from Aliexpress and the like. Aim to spend between $1-$10 per item.
2) Set up a craigslist ad, and post in local Facebook groups saying something along the lines of:
"I ordered a couple of these wireless chargers to set up at home and in the office, but did not realize that they were running a promotion on these so I ended up with 4 in total. Now as much as I would love to have a wireless charger in every room of the house, I would much rather have some extra cash. How does $20 each sound for the extras?"
The backstory is believable and makes it sound like you do not care too much about what you get for them.
The $20 price tag is good because people will bargain down to $15 and you are still making at least a $5 profit on each sale, and $20 is one of those nice round amounts that people feel comfortable spending. Of course, this only applies if similar products are being sold for more in the stores in your area. Such as if the cheapest wireless charger in a local mall was $30, suddenly $20 looks like a good deal, and $15 is a steal, especially since the buyer feels in control of talking the price down.
The reason you want to say that you have more than one for sale is because some people may want more than 1 for whatever reason (Maybe they want a wireless charger for each of their cars? Maybe one for the office and one for home? You get the point.) and what kind of salesman would you be if you left money on the table?
3) Profit!
Now I know what you are thinking:
Is that all?
Yes. Yes it is. Making money is that simple.
Why not just drop ship?
Why not both? Honestly though, by doing this, you are getting customers who would not easily trust an online business, and you get paid in cash right then and there.
What is up with all this talking the price down stuff?
Psychology! The more power and control the buyer feels, the smoother the transaction.
Give me a twist to make more money?
If you can without incurring extra costs, say you will deliver for an extra $2. $2 is such a small amount to pay for convenience that people will take you up on it, and it adds up quick. Especially if you are dealing with $10 items and that $2 is an additional 20% profit. I would suggest that if your city has a subway line just say that you will deliver to anywhere along the subway line, otherwise meet at the local mall.
Anyways, if you have any more questions please post them below! Happy earnings!
Word of warning: You may end up in a situation where you end up with dead stock if you cannot find buyers, or receive defective inventory. All I can say is choose your products and sellers wisely, and assume that every investment opportunity comes with a risk.
I also want to apologize in advance as this method will most likely not work outside of North America and similarly established countries as people in these countries can afford to pay for convenience and useless products.
The Method
1) Purchase products that people would not necessarily go shopping for, but may pick up anyway if they were cheap enough, ie. wireless charging pads, from Aliexpress and the like. Aim to spend between $1-$10 per item.
2) Set up a craigslist ad, and post in local Facebook groups saying something along the lines of:
"I ordered a couple of these wireless chargers to set up at home and in the office, but did not realize that they were running a promotion on these so I ended up with 4 in total. Now as much as I would love to have a wireless charger in every room of the house, I would much rather have some extra cash. How does $20 each sound for the extras?"
The backstory is believable and makes it sound like you do not care too much about what you get for them.
The $20 price tag is good because people will bargain down to $15 and you are still making at least a $5 profit on each sale, and $20 is one of those nice round amounts that people feel comfortable spending. Of course, this only applies if similar products are being sold for more in the stores in your area. Such as if the cheapest wireless charger in a local mall was $30, suddenly $20 looks like a good deal, and $15 is a steal, especially since the buyer feels in control of talking the price down.
The reason you want to say that you have more than one for sale is because some people may want more than 1 for whatever reason (Maybe they want a wireless charger for each of their cars? Maybe one for the office and one for home? You get the point.) and what kind of salesman would you be if you left money on the table?
3) Profit!
Now I know what you are thinking:
Is that all?
Yes. Yes it is. Making money is that simple.
Why not just drop ship?
Why not both? Honestly though, by doing this, you are getting customers who would not easily trust an online business, and you get paid in cash right then and there.
What is up with all this talking the price down stuff?
Psychology! The more power and control the buyer feels, the smoother the transaction.
Give me a twist to make more money?
If you can without incurring extra costs, say you will deliver for an extra $2. $2 is such a small amount to pay for convenience that people will take you up on it, and it adds up quick. Especially if you are dealing with $10 items and that $2 is an additional 20% profit. I would suggest that if your city has a subway line just say that you will deliver to anywhere along the subway line, otherwise meet at the local mall.
Anyways, if you have any more questions please post them below! Happy earnings!
