The Wholesale Forums

[Riggerz]

Lol!!!!

[Pete]

Originally Posted by kwidsin

Thanks for the replies, much appreciated. Yeah, that was my general gut feeling......time to look elsewhere I thinks...

On some pressure washers I have, I'm selling at £57 with each unit costing me £37, so 54% profit......so I'm getting there slowly.


Some Great Information. Thank you


@jayjrc

Making £22 on a £5 item, bloody hell m8, fantastic. I would never have thought that possible, but I am an early learner

You need to learn your business math -

You made 35%.

You made 20 on a sale of 57. That is 35% Gross Profit.

Easy way to figure = divide the profit by the selling price. The small number by the larger number.

On the laptops you made a whopping 11%. 30 profit on a 280 sale.

BTW, I hope you are including shipping in your costs, if you paid shipping.

Rule of thumb - Double up. Buy at 10 sell at 20. 50% Gross Profit. Never less than 40%.

I go Triple Up. 66% Gross.

My last retail averaged about 70%, with some items close to 80.

Be sure and include shipping in your costs.
.

[kwidsin]

Thanks Pete,

lol, I'm beginning to realise, I ain't doing so well Initially, if I made a profit I was happy, but I'm now beginning to understand that its not so much obtaining the profit, its having the neck to put a relatively large mark up on it. I'll get there m8, Thanks.

[biffa1965]

i sell one particular item (unbranded item of headwear) which costs me 80p Per unit wholesale which i sell for £5.95. i shift over 30 a week !!

[kwidsin]

Hi Biffa,,

Do you mind if I ask you a couple of questions?

Firstly, is the unbranded item sourced from uk or china ( I obviously don't want to know what it is), but would like to know if unbranded items can be sourced in the uk rather than a newbie taking the eastern route, with that sort of mark up?

and secondly, in order to shift over 30 a week, what would be your advice as to where to sell from, do you have shop, internet shop, ebay, bootsale etc....

thanks for any advice

kwidsin.

[ChiefKuanyin]

I usually make that much profit on betting single events! Like at the weekend when Vettel won Italian GP (I average £1500 profit a week from gambling and I'm thinking of an ebook or tipping site - whichever people will subscribe to!):

Formula 1 win.jpg


On a serious note, it depends on the price the market can support. As an example I bought 5 Laptops for $800 to sell in Sudan. I wanted to make approx %33 profit, so selling price was $1200. But it didnt sell because no 1 could afford it - I eventually sold them for $500 each. I found this to be the optimum price for my particular market. So right now I am looking to source Laptops for less than $325. Which has led me down the refurbished laptop route and so I am now in contact with USA notebooks (http://www.usanotebooks.com/) to be added as supplier. The market has the numbers to easily support their minimum requirements of selling 50 laptops/month.

[Jabong82]

Obviously in electronics the margins are going to be slimmer, however electronics are easier to get rid of then most items out there. Sure maybe there is a product that has a 50% margin, but I guarantee you it won't move as fast as electronics.

Of course the main objective is to maximize profit any way possible.

However people forget that its not only ROI, but its also turnover rate that ultimately equate to profits.

Sure you can buy say other items for a higher return, but it may take you much much longer to sell the items. Also the risk you take with high margin products is generally they are not that popular, and you risk getting stuck with the item.

Yes for the most part if you are selling laptops they are going to move quickly, and there is probably a low chance that you will get stuck with inventory. However the trade off is lower margins, though the margins will be steady.

As far as I'm concerned I think you are doing well. Assuming you sold these laptops fairly quickly, you are definitely doing something right.

[lemonwonder]

I currently make about 10% profit on every single mobile phone I sell. It works out quite well, I keep this for the top of the line phones and the bottom of the line, so for some I only make about 8$ but I am happy to be making anything at all

[biffa1965]

Allo Kwidsin, the item iam referring to is obtained from a UK based headwear wholesaler. The items themselves are china manufactured which are imported by the UK wholesaler. Certainly in the case of unbranded clothing and headwear there are plenty of UK based wholesalers that can provide you with products.
its quite funny really because ironically,unbranded clothing and headwear is probably the safest products you could source from China.Many on here, such as Anthony,Andy and Greedyboy would tell you to go for it if trying to source unbranded clothing and headwear from china (after you have carried out the neccessary checks of course) most scams would appear to surround the myth that you can obtain branded goods from over there when you simply can not.
in reply to the 2nd part of your question,i shift approx 60% of the product i mentioned from our EBAY shop and the remining 40% from our retail shop.

[kwidsin]

@ the 4 posters above, thanks for taking the time of getting back to me, really appreciate your feedback. It really does make sense in what you are saying. Just one point, there is obviously a very contrasting opinion of what is expected as a "decent profit". I notice lemonwonder you state 10% profit...........and like you, agree, any profit is worth it.........and yet there are others who would not roll out of bed for 10%..........but everyone to their own I suppose

@Jabong82,

yh, that is what I would base myself on, quick sell, but small profit, . I just like a quick turnaround, but thats just me...........maybe bad business, but as long as I make a profit I'm happy...lol sad I know...lol. I just think electronics/gadgets etc... sell well, ok small profit but sell. On a whim, I bought some pressure washers @£37 a unit, have sold a majority of them word of mouth @ £57 (oops, just realised I've already mentioned this) but people snapped them up and I made £20 on each one @16 units. £320 with hardly any postage. Perhaps I could of made more, who knows, but they mearly all gone and I may get another batch.

@biffa1965

Thanks for the input, Its just I've never thought of entering into unbranded goods, but as I've read so many times on here, look outside the box. I like to sell electronics, gadgets etc..., as they interest me............but unfortunately, thats probs not the right course,and small profit. From a personal point of view, I always tend to buy branded, but, I suppose its fair to say not everyone is alike. Time to test the water!!

Thanks all again.

kwidsin