Thousands of people not only in the Philippines but in other
parts of the world have discovered they can start a business by buying new and
used products cheaply and reselling them for a profit.
A buy-and-sell enterprise is nothing more than purchasing
cheaply new or previously owned products that we all need, use or want, and
reselling these same items for more than the cost. The difference between what you
paid and what you sold it for, of course, is your profit. The mantra of every
buy-and-sell enterprise is simple, and easily memorized: Buy low, sell high.
That is precisely the
purpose of this article -to show you how you can start and operate your own
independent buy-and-sell enterprise so you can buy low and sell high, and make
a bundle of profit in the process.
Buying and selling for profit is nothing new. It has been
around for thousands of years; the only difference is that the currency has
switched from goats and bread to paper and plastic. With that said, however,
there are two primary reasons why buying and selling has recently exploded from
being the closely guarded secret of a few, to the popular occupation of
hundreds of thousands of people worldwide, who are now buying and selling as
their sole source of income.
The first reason is the advent, wide acceptance and use of
the internet, and the second reason is the emergence of the new economy.
The Internet Makes It Easy to Buy and Sell
The proliferation of the internet gives entrepreneurs from
every walk of life and from every geographic location access to a global
audience of buying consumers, eager sellers, information, and resources as in
no other time in history.
The internet has not only made it easier to sell products
into the global marketplace utilizing online sales venues such as eBay,
e-commerce websites, e-classifieds, and e-storefronts, but to also source a
nearly limitless number of in-demand products, which can be bought cheaply from
domestic and overseas suppliers and resold for a handsome profit.
Before this task was
out of the reach of most small business people because of the amount of time and
money required to research and often travel to foreign and domestic product
suppliers to inspect, negotiate, and ink an agreement.
Much of that has changed. Now with the simple click of a
mouse you can buy products cheaply from thousands of suppliers spanning the
globe, and resell these same products worldwide through numerous online marketplaces,
or locally through community retailing opportunities like your weekend tiangge-all for incredible profits.
The New Economy Is Buying and Selling
The new global marketplace has also created a second reason
why buying and selling is not only the wave of the future, but also likely to
become a large part of what makes up the new economy in industrialized nations
such as in the United States, Canada, Europe and Asia.
When you consider the advantages of a buy-and-sell
enterprise over traditional retail or service-provider businesses, it quickly
becomes apparent why many people have wisely elected to buy and sell, and why
buying and selling will make up a large percentage of new business startups and
the new economy.
Consider some of these reasons:
Consider some of these reasons:
Low investment.
The vast majority of buy-and-sell enterprises require only a minimal investment
to start. Once can practically start the business for P500 and let it grow many
times more.
Minimal financial
risk. Because almost all the money you spend to get started goes into
buying inventory, there is limited financial risk involved. If you decide to
quit, you can simply sell off stock, recoup all or most of your investment, and
live to fight another day.
Incredible profit
potential. One need only spend time in scouring every nook and cranny
of Divisoria and find find with amazement the low prices of thousands of items
being sold there which can be bought for P10 a dozen for example and sold for P10 each. That’s 1,200% profit! Needless to say, the profit potential is
excellent.
Work from home.
For people wanting to work from home, a buy-and-sell venture is a great choice,
because most can largely be operated and managed from home.
Flexibility. No
other business opportunity or career choice offers as much flexibility as
buying and selling, especially if you concentrate on online sales. Part-time,
full-time, seasonally or occasionally, you set your own schedule and level of
commitment as determined by your goals and objectives, not your boss's.
Minimal skill
requirements. With the exception of a few highly technical products, there
are few skill requirements needed to start, operate, and prosper in a
buy-and-sell enterprise, and those skills that are needed can be mastered by newbie
entrepreneurs over time. This is a rare opportunity where ambition and
motivation are more important than special skills.
Who Can Buy and Sell?
The answer is simple--anyone. One of the best aspects about
starting and operating a buy-and-sell venture is that everyone is qualified.
Buying and selling knows no boundaries-anyone with a need or desire to earn
extra money, work from home or to start and own a business can buy and sell,
regardless of age, experience, education and financial resources.
What makes buying and
selling the ultimate self-employment option for the vast majority of people? It's low start up capital or in some instances no capital at all yet proven to work and generate huge profits.
Imagine the flexibility that buying and selling offers. You
can buy and sell full time to replace your current income and in all likelihood
earn more. You can buy and sell
seasonally, enabling you to pursue other interests like travel. Or you can buy
and sell to help supplement your retirement income and stay active until you
reach your senior years. (Editor’s Note: This article is a repost of the original
article: How to Buy and Sell Products for a Living which appeared in Entrepreneur.com and slightly edited to reflect
actual Philippine situation.)
