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    6 Replies Latest reply on Jul 2, 2008 1:52 AM by NRU Investor

    I need info on pricing and other things. Please read!!!

    entremog Newbie

      Where can I go to get things to sell online like clothes, shoes etc? And how do I determine what price to resell those items back? I want my products to be reasonably priced, but I also want the quality to be good as well. I know it's possible because other retail chains do it like walmart and kmart, but I do not know "HOW" they do it. I'm new at this and just want to gain some knowledge before I attempt to try. Can someone Please give me some insight? BTW, I've just joined the community and this is my first time posting a ? but it probably won't be my only ?!
        • Re: I need info on pricing and other things. Please read!!!
          Sweetsation Newbie
          HI,
          I would imagine before you start selling something you have to decide WHAT exactly you want to sell and how much $$ you want to invest buying the product wholesale in order to re-sell oline. Check www.thomasnet.com for China suppliers for all kinds of items. However usualy they require you to buy 1000s of pieces, but cheap. Not sure if you want to start that big. Worth checking though.

          Natalja
          • Re: I need info on pricing and other things. Please read!!!
            simon07 Wayfarer

            that's a great suggestion above, to first determine what you want to sell. Also, many places have "wholesale" districts in which you can buy in bulk.. my suggestion would be to start slow. buy one or two things in bulk and then maybe go on eBay to try and sell them . eBay offers a whole host of selling options.
            • Re: I need info on pricing and other things. Please read!!!
              LUCKIEST Guide
              I need info on pricing and other things.

              *Welcome * I've just joined the community and this is my first time posting. Great

              Tell us more. The more you share, the better we can help.

              Is this going to be a Business?? or just extra pocket money??

              If a Business, start with a Business Plan.

              Good luck, LUCKIEST
              • Re: I need info on pricing and other things. Please read!!!
                amspcs Ranger
                First of all, you need to do a little (no, a lot) of homework. Research (in the library or Google) the term 'overhead factor" and learn all you can about it.

                Basically, the concept is this: Every single item you sell from the $.29 cent item to the $10,000 item MUST each account for their fair share of your overhead. If one item, doesn't, then the next item must carry the share for both items. So basically you need to account for and add up each and every overhead item you have in your business down to the most miniscule item, everything from rent to insurance to the cost of paper clips. It is imperative that you not leave ANYTHING out no matter how minor, otherwise you're just fooling yourself since that cost item comes out of your profit which means the more you sell, the more in the red you get.

                So once you have computed every milli-cent of your overhead, you construct a ratio of what your overhead, include your projected profit margin, and create a ratio in relation to what your projected revenues are. You have to track this on a sliding scale, remembering that as your actual vs projected revenues as well as your
                variable (as opposed to fixed) overhead factors change with time, so will your overhead factor change. You use this overhead factor to compute the prices you need to sell for in order to (a) pay overhead (b) cover cost of goods sold and (c) make a profit hopefully.

                If you don't understand this, you need to find a good business consultant or do some heavy homework.
                Don't just 'wing' it; that's equals guaranteed failure.I wish I had a dollar for every business I've seen that THINKS business and sales are great, but just can't figure out why they're broke and in debt up the ying-yang at the end of the year. The reason, of course, is they didn't properly compute their overhead factor.

                Incidenally, my previous career was in business consulting, which is where I learned all all this good stuff. I've done and seen this a lot. Many many small businesses do not comprehend or properly apply the concept of overhead factor...that's why so many of them fail. Don't join that club.

                AMSPCS
                amspcs@juno.com
                www.MerchantServices-help.com
                • Re: I need info on pricing and other things. Please read!!!
                  NRU Investor Wayfarer
                  Good evening if you are looking to accept credit cards I know that I can definitely help you out. There are alot of companies out there that promise you things that sound good but you have to be very careful. I know that you are need to accept credit cards, but would I would like to do is save you money which is important but last but not least is help you make more money, which is the reason why you went into business. With Alpha Omega Processing powered by NPC we have over 25 years in experience with credit processing. NPC processes 1 out of 4 credit card transactions in the world, and is the 5th largest processing company in the U.S. We offer no annual fees, no application fees, and no contracts. We offer the lowest rates and it will only go down from there,not up. Feel free to call me at 678-371-5049- so that I can get all of your questions answered or you can email me at tmack0306@yahoo.com. Give me a call so we can talk about your business and get your business off the ground.

                  Tory Mosley
                  Business Owner Advisor