Monday, December 31, 2007

iPods Everywhere

What can I say? This has to be the best idea I ever followed through with. I can sell those damn things all day, every day. It wasn't just christmas, either. My sales haven't even slowed down, really. Doing this won't work for every product, nor will it work for everyone, but it seems perfect for me.

Sure, it has it's hassles because of suck-ass customers, but overall it seems to be easy money. If I had larger pockets, I could possibly do it full time, seriously. However, it takes a large sum of money to keep it going, at least to start. My first batch of 40 4gb ipods cost $2140, second batch of 40 4gb ipods cost $2140, third batch of 30 1gb generics cost $775, and my newest batch of 30 30gb ipods cost $2520.

Technically, as long as I keep one batch at a time, it's the same $2000 capital being reused over and over. Then the added sales pay for all the paypal/ebay/postal fees. This is more of a long-term plan, rather than a get-in get-out thing. After 1 month, I have made a cash profit of only $300. However, my real profit is still inventory sitting on my floor. I'll make my money as long as I keep plugging away at it.

The big money stopper was those generic ipods. Sure, they sell, so it's not like it was a bad idea, it's just that it takes a while. Apple ipods can sell 5 in 1 hour. the generics only do about 1 per day. I could lower the cost, but that seems to be counter intuitive. So it takes an extra week or two to sell off, whatever. It's tough to stand firm when I look at that measly $300 for all this work, but I keep telling myself I am building a long-term business. In another month or two, my 'company' should be self-funding and will continue to bring in an actual paycheck every week. This is not only the IPods, but includes my Game Store, and whatever other e-store I setup in the coming months.

I have been toying with the idea to go asking around for Private Funding for my project. If I can borrow $2000 from someone, pay them like 10% or $7 per iPod sold or something, then that could be it's own funding source that doesn't have to come out my own pocket. This would allow me to buy twice as much inventory. Not only that, but that would be inventory that someone else would NOT be able to buy. Slowly, I would able to corner the market. Yeah, i know, big ideas.

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