If you’re wondering, “How do I double my money?” and haven’t considered buying wholesale and reselling online, it’s time to give this idea serious consideration. There is a large buying audience available right at your fingertips and with some forethought and focus, you can double your money in short order.
First, decide what you want to purchase and resell. Savvy sellers have experience and thus know what investments can be turned around quickly. Choosing high demand items will allow you to resell your stock quickly and buying these items at wholesale prices will increase your yield and thus, allow you to double your money much more quickly. If you know that a certain handbag, pair of shoes, new book or new release DVD is (or will be) in high demand, you can resell your stock very quickly and often make a great profit. Deciding what to sell is truly the most important step in this process. If you don’t purchase items that are in demand and can be resold at a profit, you are either stuck with the stock or end up having to sell it at a loss. Extensive research at this phase can take you a long way towards your goal of doubling your money.
Another way to double your money by buying wholesale and reselling online is to buy blank or unlabeled items and customize them for resale. This is very popular in college towns where many cottage industry businesses spring up with customized items for sports teams and social organizations. This can be done in your local community with the local favorite sports teams, the city name, or even personalized with peoples’ names. If you buy the unlabeled items wholesale or in bulk, you can then resell the customized item cheaply. In addition to selling your customized items online, you can supplement these sales by purchasing a booth at a local bazaar, farmers market or craft fair. With proper research, marketing and targeted selling, there is no reason you can’t double your money in one month or less.
The best online marketplace with the best overall reputation is eBay. It offers unsurpassed buyer and seller protection and through the use of PayPal, offers a secure way for your buyers to make payment as well as a place for you to print shipping labels right from home. In terms of simplicity and ease, eBay is pretty hard to beat. As a seller, though, be aware of the eBay fees associated with selling. There are listing and final value fees on eBay as well as a fee from PayPal, so be sure to build those hidden costs into your sales prices.
The key to creating a great stream of income once you have found a way to double your money is to keep reinvesting your earnings into more stock and continue to resell. Don’t get stuck in one single pattern of work or thought, but rather expand your business and take small risks as you can. These will yield you the greatest gains. Reinvesting your investment earnings wisely, rather than spending it on the things you may want in the moment, is the way to really expand your wealth and continuously double your money over and over again.