How to profit from buying and selling?

Photo by Sharon McCutcheon on Unsplash

Sales

There have been many sales since many festivals occur simultaneously in a year. What you can do is buy the product at a low price i.e. buy the good products in the sale and resell them again after the sale ends. This is a very effective way of being a good salesperson. The experience you gain is valuable as you know what sales for how much. You study the market, you complete your market research. This is a very great way if you want to explore yourself in sales.

Profit

Money comes with a single stream as well as multiple streams. It’s never made compulsory that you can only have one source of income. The profit comes when you can sell more than you thought. Profit grows when you upgrade products and improve prices. The base for developing the product is the same as you need to set the structure once in a while. The same structure can be used in case you need to upgrade it. Upgrading involves very little money as you already have a base ready. Think like you want to upgrade your apartment. You can build it up without disturbing the base. The base acts as a stronghold for you to improve and build up. So, the main thing is to have a good base. It doesn’t matter if you have a big idea or small idea unless and until you have a strong base to support it. It’s simple but hard to implement as many problems come across your path.

Example:

You have a sale going on the products mentioned below:

Toothpaste, brush, TV, table, clothes, smartphone, earphones, and laptop.

Divide them into categories:

Daily need: toothpaste, brush, table, clothes.

Electronics: TV, smartphone, earphones, laptop

What is the first thing which comes in your mind?

What you mostly require is a daily need item. But you also need some entertainment right? Yes, so what business mind says is to sell what you can consume yourself first and then think of others. Let me tell you that you can sell both in a combo. There is a mental tendency of people that they get attracted to the combo packs. Daily needs can be sold with little or no profit. But electronics can be sold at higher prices and good profit.

Let’s sell a laptop and table both together. Does it make you purchase it? Maybe the price of the table is ₹ 10,000 and the laptop is ₹ 100,000 if separately sold. What if you purchase it in a combo pack with ₹ 5,000 off on both? You may buy both items for a ₹ 10,000 discount in a sale and sell it for an increase of ₹ 5,000. The choice is yours. If we go on the upper part then the customer buys both of them thinking ₹ 5,000 off on both is a great deal. Whereas the table is a need and may be used for many purposes. But a laptop may not be needed for everyone though everyone ends up buying one because of the lower price.

This is the beauty of sell and reselling. You may not be an expert at it immediately but no one can stop you from being one.

Written by Bhavesh Patil, Keep smiling :)