Recently I was looking at some online wholesalers located in China. I was pleased with their prices, I was looking for an electric (Vespa style) scooter for my son. Unfortunately, when I got the pictures and quotation, they ignored my one piece minimum order and made the required minimum order 1 container load or 25 Scooters.
Not only that, but the scooters cannot be flown, they must arrive by ship because couriers do not fly products with lead acid batteries. There are lots of intricate customs tangles and duty to pay on the shipment. It was all starting to get a little complicated.
This had me thinking...what would I do, if all I had was $250 dollars and I wanted to add 50% really fast. 50% is a huge mark up in under a week. If you were able to compound that $250 by 50% just 14 times, you would have a total of $109,473 providing you compounded that money at each transaction.
I love the concept and math of compounding. Its a magical formula when you get into the 50% territory. Starting with just $250, theoretically at least, you could turn it into over $100,000 in just 14 steps or transactions. But how could we do it? If you were able to just do it once, then what is to stop you doing it a further 13 times?
The import research I did had me thinking. Why import. Why go through all that hassle and risk. There are amazing opportunities right in our own back yard. Price is a funny thing. Markets vary in different areas. The upmarket chains charge 10 times as much for exactly the same quality product as the spend thrift market chains do and they justify this extra cost by referring to their high street logo's and packaging. People know this, but still they continue to buy. Even though the bulk retailer down the street has exactly the same quality product at a fraction of the price.
You can shop at these bulk retailers and advertise in classified ads. Start with a brand new bike, I saw one at the spend thrift stores for $100 brand new recently. The quality was excellent. I could have easily put a price of $170 or even $200 on it and I know I would have gotten some interest. From there its just a matter of bribing the prospective buyer with a further discount, down to the original $150 or 50% mark up we were looking for in the first place. He would feel like he got a good deal and you have achieved your first compounding goal.
Incidently, you could approach the manager of the bulk retailer and ask them to do you a deal. If the bike sells easily, you could just let the ad run continuously and purchase bikes in quantity as a sort of passive income.
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Source: www.articletrader.com
