What did you start out with?

United Gamer · 31-08-2008, 05:16 PM

well some or most here say they had some sort of sucess how did you start?
what i mean by this is how much money did you start out with, what did you start with(item wise, kind is good) what did you do first set up a website or ebay... how did you find your supplier/dropshipper/wholesaler or what ever you used... and what would you reccomend for people starting their own business...

uhafmail · 31-08-2008, 05:40 PM

I started up with £70. Bought £40 worth of stock (New Iraqi Dinars) and paid a university student £30 to set me up a simple website. Started selling on ebay and with every order i sent out i included a piece of paper with my website address on.

The most important thing when setting up a business is RESEARCH, so many people do not conduct research before buying, do not just look at the saving off the RRP, see how much other people charge for the same item on your choice of selling platform and how many sell at that price. Always work out VAT and Duty charges (if applicable) when working out potential profit margins.

Royale · 31-08-2008, 06:07 PM

£2.50 and tic tacs

**hardwareheroes** · 31-08-2008, 06:10 PM

I needed about 3 grand to buy my first kitchen - had 2k myself and borrowed 1k of my girlfriend sold it for 8k so gave her 1500 back and made profit of 4.5k. After that I was hooked. I was working as a manager in the kitchen industry at the time and kept working for another year earning 50k per annum which was enough to cover my living costs. Allowed me time to build up capital.

geosamm · 31-08-2008, 06:28 PM

started with Bugger all.... no qualifications when I left school at 15.... very little education.... very poor family..... [could I tell you stories about picking coal,, and chopping down telegraph poles for fire wood... burning old tights and shoes... sugar or sauce butties... ah the good old days] [what a load of crap it was]... left home a few months after leaving school.... then see what I did for my first 1K in the other thread.

as for

Quote:

what did you do first set up a website or ebay

hahaha.... ebay wasn't thought of..... not sure bill gates was thought of either.... Im going back to a time before calculators let alone computers.... hahaha.... it was after the abacus though.... when kids had to write with ink pens... not fountain pens.... dip in the ink well pens... like the old feather type.... but a stick and a nib.... hahaha

**moneymaker88** · 31-08-2008, 09:58 PM

I started off with £50 when I was 17. Bought an item from a local shop in the sale, and sold it for £100 on eBay. Then I kept going back to the same shop and doing the same for about 6 months.
I set myself targets of how much money I wanted to make, and everytime I met these targets.
After about 10 months I had built up enough capital to purchase my first container worth of stock.
Last March I formed a Limited company and registered a 1st year turn over of £900k with a net profit of £65k. Not bad for a 19 year old.
I still set myself targets and aim this year to turn over £1m with a profit of £100k, with the current state of economy this isn't going to be easy for me but I am determined to meet my goal!

mkhost.co.uk · 31-08-2008, 10:34 PM

Quote:

Originally Posted by United Gamer

well some or most here say they had some sort of sucess how did you start?
what i mean by this is how much money did you start out with, what did you start with(item wise, kind is good) what did you do first set up a website or ebay... how did you find your supplier/dropshipper/wholesaler or what ever you used... and what would you reccomend for people starting their own business...

i'm just starting with some cases' and electrical goods on ebay..

Inferno House · 31-08-2008, 11:56 PM

I'm going to be honest... i started with a few designer clothing lines that i had brought from a guy in Birmingham & seemed to be making quite a bit of resale £££ on eBay, i then brought case loads & was making around £800 a week... only to find my goods were fake & trading standards spanked my monkey! i got let off very luckily & lightly with a warning as i have no criminal convictions of any kind - this is why i am happy to offer my advice to anyone wishing to sell designer clothing = personally i just wouldn't bother!

**hardwareheroes** · 31-08-2008, 11:58 PM

Refreshingly honest Tylola - well done - glad you moved on

**markbyrne** · 09-09-2008, 07:24 PM

When I was about 7 I used to sell dinner tickets. My best mate and I used to scratch off our names on a wall, then sell them cheap. It didn't cost us anything, but it cost my mum a few quid a week! We then used to buy chocolate cheap off his brother who had a trade account at a cash & carry. Sell the chocolates, and buy our dinner tickets out of the proceeds. Great days....