So I am going to talk you through my best money making scheme at school and tell you what I learned in doing so. Learn from my experience. I got quite into it. I even had an internet payong system set up at 1 point!
So I noticed all the deals going on in the local paper shop and convenience store right by my bus stop. I thought: 'If these companies can sell stuff off so low, there must be a reason why they sell them normally so high.' So I went away and did the maths. It didn't take long. If you can sell 4 mars bars for £1 but sell them singularly for 63p, then something has gone astray. I worked out I could sell a mars bar for 50p, undercutting the shops and making a 100% cut for myself!
So there it started. I bought some and asked guys at school if they wanted to buy. They got snapped up quicker than I could manage and by the end of the week I could buy 4 or 5 packs and sell them all. With a £1 profit per pack this was pretty alright. But of course, little shops sell out fairly quickly. So I had to use a bit of imagination. I realised I couldn't keep the same brands on all the time. I would have to be resourceful.
So I had to look around. Maybe the haribo were on a buy one get one free, or maybe the cans of pop. This is where you should look. Anything that you might be able yo split up and sell. Let me tell you if your mates csn walk into the same shop and buy something for a cheaper price you have lost your sales. You need to hndercut the shops. And the only way to do that is to buy on offer and sell off the offer. Simple.
So I continued buying stock every day. Maybe £4-5 every morning! This was a real slog to get it all into my school bag. I also had to face the disapproval of mum and dad. So everything was bought and sold on the same day. Simple. Nothing went over the threshold of my own house.
It was tricky to do. It taught me a few great lessons. Number one. Being resourceful and creative. Number 2. Judging exactly right. You get to know what your customers want after a while. One of my friends could do kit kats for 40p. There was no way I could do that. So I didn't bother with them. And I knew that if I bought in some pepsi, one of my friends may snatch 4 or 5 cans, so I could afford to get 2 6 pscks and would be able to sell almost all of them in a day. It was a great lesson to me, about what people wanted and didn't want. And about how people think about money and savings. If someone can buy 1 can for say 63p and 4 for £2, every mug will go for the 4 can option. Even though they may drink 4 in the same day as they would just 1, and therefore they have spent more money, they feel like they have got better value.
And that is how a large majority of people think. They buy in bulk because it is better value and not cheaper overall. The 63p can would have meant people spend £1.37 a day than if they bought 4. Just be aware of how people think about what they are spending and propagate your money tree.
