Reselling Side Hustle: How John Sells $100K a Year
I got the chance to interview my friend and fellow blogger, John from Financial Freedom Countdown.
John shares my philosophy that one of the best ways to reach financial independence is by finding additional streams of income, whether that is real estate, side hustles, or passive investing.
His side hustle is reselling. He buys items that are in demand and try to sell them again in a short period. Sometimes as little as 30 days.
What are the costs involved in the business?
1. Adequate space to store the item. 2. Shipping costs which the profit can offset. 3. Enough credit to float between buying and selling.
Research is huge. You should know which hot products are being resold and where to source inventory. 80% of the time is spent on these two activities.
Sourcing inventory in large quantities after identifying a successful product is the biggest obstacle.
What obstacles are needed to overcome to achieve success?
What advice does he have for someone looking to get started?
Start slow and scale up gradually. Be prepared to make no profit for the first two years as you slowly learn.
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