Anyone have a small side business they do just for extra spending money? (liability insurance, sued)

[MLSFan]

too late, edit button gone, besides you finding it unethical doesnt mean illegal...

Edit though, the items aren't being used then returned... All still in original packing too.

[PriscillaVanilla]

Originally Posted by MLSFan

people do this a lot on ebay/amazon

buy large packages of diapers, list it at twice the cost including shipping and wait a month. if not sold, they take it back for a return. toys r us was a popular choice for this

I see things like this on amazon all the time but I know they've marked it up from the retail price. Does anyone actually buy things that cost double what they would pay in the store? I don't find it unethical or anything, but I don't see how many customers would order things that cost that much when they could just drive to Wal Mart and buy it for less.

[COcheesehead]

Originally Posted by BumbleBeeHunter

I am not sure what you are asking, "what if someone chokes?"


What does that mean??

Do you have liability insurance.

A business should protect itself.

[KaraG]

Originally Posted by BumbleBeeHunter

I did. I bought some supplements with just a 6 month expiration date so sold them at 50% mark up.
Just glad to get rid of them. These body cleanse stuff sell but you only use it once every six months.

Bought way too many of those.

As for the other vitamins and supplements, I've sold a few boxes of 12 each for 2.5x more than I bought it for.

It's all good. At least so far.

If I keep chuggling away as I have, I'll do about $300 a month. Maybe a little more. Better than bothering with coupons

So what are you doing, going door to door to mom and pop stores and selling out of your car? Cold calling stores? Are they paying you when you deliver or are you giving them 30 days to pay?

What happens if they haven't sold them by the time they expire? Will they send them back to you?

Keep us updated and good luck.

[BumbleBeeHunter]

Originally Posted by MLSFan

too late, edit button gone, besides you finding it unethical doesnt mean illegal...

Edit though, the items aren't being used then returned... All still in original packing too.

I never said it was illegal, just unethical. I guess that is better though

[sirron]

I believe the trendy term is "retail arbitrage". There are oodles of videos on YT showing how to do it.

[BumbleBeeHunter]

Originally Posted by KaraG

So what are you doing, going door to door to mom and pop stores and selling out of your car? Cold calling stores? Are they paying you when you deliver or are you giving them 30 days to pay?

What happens if they haven't sold them by the time they expire? Will they send them back to you?

Keep us updated and good luck.

Thank you Kara
Here's my update
I do not take them back if they don't sell in the store.
They paid me immediately



Very happy with the results so far
Attached is my online sales.

7 days of sales= $354.70
-online fees to pay later- 10%= $35.40
----------------------------
$319.30
-$125 is a rare jacket my husband sold (not counted)
-------------
$194.30 supplements

profit is slightly over 50% so made $97 in 7 days/$13.87 a day,

I screwed up buying those green boxes.
Stores are willing to buy them
but only at 2 boxes at a time.
It appears I can pawn them off slowly...for what I purchased them for
I'll never buy body cleansing supplements again!

I also sold $150 worth of stuff to our local co-op health food store where we are members.


They expect to order again in 6 weeks but maybe 4 weeks if it sells. 6 wks at the latest.
Again, a 50% profit so that is $75 in 6 weeks...$1.66 per day/$15.51 per day/$465 a month.

There is a 6 hr lul in between my two 18 hr shifts once a week
With nothing to do in between
I can be listing items during that time

This originally began with the idea of doing coupons
except my thread went to pot due to criminals coming in posting
going way over the top with their false accusations
detailing their criminal acts.
No one would even think of those things they posted

Otherwise I wouldn't have likely ended up deviating

to something more lucrative
Thank you criminals who ruined my coupon thread!!!


I'll give you another update after another week, then after a month

[BumbleBeeHunter]

Originally Posted by COcheesehead

Do you have liability insurance.

A business should protect itself.

LOL! Liability insurance in case someone chokes on my supplements??

[BumbleBeeHunter]

Originally Posted by MLSFan

people do this a lot on ebay/amazon

buy large packages of diapers, list it at twice the cost including shipping and wait a month. if not sold, they take it back for a return. toys r us was a popular choice for this

entire webpages about things you can buy and sell, and return if not sold, so no real money lost outside of effort to move items around. popular items on discount is when you see this, people buy lots and wait until sale is over to list it online and undercut normal price a little. if not sold by return date policy, they return it and get money back,

doesnt work well in other countries, but the US has one of the most generous return policies so people take advantage of it

edit:black friday is coming up, a lot of people are going to stock up on those sales and wait until spring to turn over. with the 90 day return policy on some places, they can wait until holiday season is over

the game consoles are another one you see people hoard, anything that is a hot holiday gift that you hear about but stores are out of stock on, people are buying them all to hoard while sales are happening, and once stock is out, they list online. happens every year

its a nice gig, get credit card points on items you sell on top of the profit. the items you return, nothing was lost but gas money to store

wow. lots of angels there to hit. missed it the first time. Not sure I can use a CC to buy my inventory though, to get the CC points

[COcheesehead]

Originally Posted by BumbleBeeHunter

LOL! Liability insurance in case someone chokes on my supplements??

My wife is a photographer and cares liability insurance. Think about that. Crap happens. Businesses are sued every day.

You are probably accounting for your business as a sole proprietor which means all your personal assets are up for grabs. I am not trying to scare you, just show you reality. I own three businesses and all of them have liability coverage.