Buy and sell; Is it a good idea starting a buy and sell business?

June 14, 2011 10:12pm CST
Hi to all MyLot people! Me and my friends are thinking ways to earn money and one of my friends suggested that we should start up a buy and sell business, but i don't know if it can bring us good money or not. So here i am asking for comments and advices about buy and sell business. Thanks to all and happy MyLotting~!!
4 responses
@Rtlsnk316 (1197)
• Mexico
16 Jun 11
In a word, that's what business is all about, buying and selling, so you're pretty much on the right track for starters. But the most important part comes when you determine what exactly you want to buy in order to resell. After that, comes a variety of concepts that need to be attended depending the market you choose, in no particular order: vision of your business, budget, costs, marketing, initial investment, niches, market studies, etc. Whatever the line of business you take it should be ok, but all these factors come on hand and should be handled properly togheter.
18 Jun 11
Thank you, I'll that in mind.
@toniganzon (72517)
• Philippines
15 Jun 11
I believe that all kinds of business ideas as long as they are legit are good ideas. The question is whether you will succeed or not. First of all you have to know your target market and what kind of product do you have in mind. Will your product be salable? How much capital are you willing to put into the business? How much is your target market willing to spend to get that product? The most important thing in every business is to conduct a feasibility study. Doesn't mattering the business is big or small. You don't want to lose money. You also have to think how much effort are you willing to put into this business. Some people are only excited at the beginning and in the middle they lose interest because they are not earning as much as they expected. Remember that sometimes it takes am long time before you get your roi so you must be patient. Good luck!
15 Jun 11
i think we will start from buy and selling from bikes to big bikes haha, bikes in our country is a hit now a days. Thanks and god bless you as well~!!
@silentwill (1685)
• Philippines
15 Jun 11
If you really want to try it and are determined to make it work I'd say go for it. Dedication is the key to becoming successful. If it's really your niche then you might go a long way.
15 Jun 11
yes, and the fact that it will be a corporation between us friends, i think you're right about that. thanks sir~!!
@greenline (14838)
• Canada
15 Jun 11
That can be a good business. There are people doing that kind of business, online and off-line, nationally and internationally. There are many varietes of products countries in different parts of the world are producing and exporting. You can explore those posibilities.
15 Jun 11
yeah sounds good, but some say i need to consider the anti fencing law...