Anybody here run across folks who have scrapped their day jobs and are selling on Ebay full-time?
I met a guy today who made $220,000 last year selling stuff he got straight from manufactors via the distributors. He works out of his house and this is his second year in business. Prior he never made more than $55,000...
Anybody else met folks like this?
If you look at my first couple posts here I indicated I left the Trust/RIA world for a new venture. That was it - EBAY
Tough market to consistently make money in. Always have to find a new products as once the word is out, there are a million sellers selling the same thing you are. Listing fees went up, more competition from other sites etc etc all added up to shrinking margins and less available product. 220,000 is very good. Is that net or gross?
Also, take a look at the things you try to buy on EBAY and you will find them at a better price or same price on a website somewhere without having to bid on them.
I think the bloom is off the EBAY rose.
Now I am trying to get back into the investment world. Not finding much success for a guy with 15 years of Trust experience, a Series 65 and a few accounts (4 million or so aum) I maintained when I left.
That was net before taxes.
He says the exact opposite...that EBAY is the tip of the iceberg in an "online shopping revolution."
I guess how successful one is at any given endeavor might have an influence on his or her outlook of that endeavor.
Good luck getting back into Trust, I'm sure you'll find something.
Did this in 98 with much success, but it is very hard now. Competition drives down price and profit. If the guy said 220k then I wonder how much is profit? If you have an established business that does welll one may have a shot to make some extra profit with EBAY as a marketing tool.
Reguardless like everything else it is not that easy...
Did this in 98 with much success, but it is very hard now. Competition drives down price and profit. If the guy said 220k then I wonder how much is profit? [/quote]
Can you read? I said $220,000 was net (which means total revenues minus costs) before taxes. In this case NET before taxes means PROFIT before taxes.
I'm not an accountant, but nothing irks me more than when someone posts a question that was JUST answered.
But seriously, it does seem that the low barrier to entry would make it difficult to make a fantastic living for a lot of people doing similar things. However, I can see how some people would be able to build a great model and maintain a business....I would want to be first to the party, and/or have a niche connections that allowed me to maintain niche market supremacy.
All of the above is somewhat like this business.
Bank FC really, come on, if that kind of thing "irks you" you pay way to much attention to this board.
Get back on the phone. Oh, I forgot you are busy shooting fish in the bucket.
But seriously, it does seem that the low barrier to entry would make it difficult to make a fantastic living for a lot of people doing similar things. However, I can see how some people would be able to build a great model and maintain a business…I would want to be first to the party, and/or have a niche connections that allowed me to maintain niche market supremacy.
All of the above is somewhat like this business.[/quote]
In college I was often the LAST to leave the party.....
Those who try show how much they are making are full of $hit. So 220 is more like 50 on EBAY. Like life is so great since I used to make 50k and now I make 200k on EBAY. Bullllllll $hit. Ask the guy his product line or his user name.
Maybe he's an Amway or Quicktrick or Excel man.... Trying to get Banker to join
He gave me his businesses last 4 quarters tax documents (inquiring about a SEP and about the most organized guy I've ever met).
I don't think I'm gonna go anywhere for awhile. Just gonna keep shooting at my barrel of fish...