Here is a SECRET business idea for you!

October 20, 2017

I didn’t go from a £300 car to a £300k car by chance. People are always asking me for business ideas: What shall they start? How can they make money when they have no money etc etc OK, here is an idea that anyone can try anywhere in the world. You need to tailor it a bit to an industry that takes your fancy and adjust according to your budget/country/capabilities/connections. Research various auction places/sites and see what is on auction. When you find something interesting, try and pre-sell it elsewhere.

 

This is a good way of making money without really risking much and you can grow it to get bigger. You need to do it in an industry you know about or have an interest in. I will give you an example. Every 3 months, the DVLA in the UK holds number plate auctions. The list is available usually 3 months in advance online. Find one that you really like and think it has potential. Then try and pre-sell it. You can try selling it on eBay or try friends and relatives or last resort, going to various traders and seeing if they are interested. When you have your final price, get payment (ideally) or a deposit (50% ideally). Then when the auction comes, you know what you should be bidding to get it and make a profit. Say, you saw S11 NGH and you pre-sold it to someone for £15k. Then you know that you can go up to £9k on the auction and with fees etc it will come to £12k. So, you have make yourself £3k.

 

This is just an example, there are many other auctions you can do this with. Hope it helps and good luck. 

Please reload

Recent Posts

Please reload

Archive