- November 15, 2016
It is the most basic of businesses, but if done correctly can be a massive money spinner especially if you pick the perfect time.
Because you’re going to offer added value, value that makes someone buy from you, rather than a competitor. A few examples of added value:
When buying in bulk it’s sometimes easy to think something is good value, when in fact it’s not. Compare the market, have a look at previous prices on eBay etc to get a rough idea of what someone is willing to pay.
First of all you can’t really go around selling food/drink etc without the appropriate licences etc, best to check with your local council.
Remember you will most likely have to keep a good record of your income and pay tax appropriately at the end of the year
Wholesalers generally sell to companies who don’t pay VAT on purchases, so they may not show the VAT price, this is especially true in Costco & it can easily trick your brain!
Photo credit: https://www.flickr.com/photos/swambo/