Hey guys, I'd like to share a small hustle I did this weekend. It was a lot of fun haha maybe you can pull some ideas or lessons from it.
Notice the wristband. Ha!
So how did I do it? I bought these dang Fidget Spinner things on DHGate.. and sold them at my local flea market. Posted on Facebook saying "Anyone wanna make some money this weekend?" Picked one and told her to bring a folding table to my house to pick them up and gave her instructions to set up the table and go sell at the flea market. She makes $1 for each one sold, plus 5% of profit. We sold them for $5 each or 5 for $20. Sometimes people would negotiate and get 6 for $20. Cool with me, volume baby! Put their $20 in my pocket. That's the game.
Gross Sales. But everyone likes bigger numbers.
Some REAL Numbers
Gross Profit: $690.
Time Invested: About 4 hours
COGS: $329.40
Expenses/Commission Paid: $82.00
Net Profit: $279.19
Return on Time ($$): ~$69.80 per hour
Date Quantity Outlet COGS (ea) Gross Sales Expenses Net Profit Notes
Side Rant About Delegation
I could change these numbers by hiring a second person, assuming they sold 80% as much as I did.. They'd make about $238.40 and their commission would be something like $75.. which would lower my net profit, but would drastically increase my return on time.
In this scenario NET profit would be somewhere around $280, but since I wouldn't have to be there.. return on time would be something like $560 per hour or more once established.
I sold the business as an opportunity.
So.. next.. I briefly posted about my success on Facebook. And said "If anyone has $200 to invest and wants to learn how to double their money tomorrow in 4 hours or less, private message me."
A guy messaged me and said his wife is very interested. I told her to meet me at 6:30am with a folding table and $200. I gave her instructions and told her exactly where to go and what to do.. this is what happened.
My COGS is $1.08 each, I sold her 100 pieces at $200. Which reflects my $92.19 net profit above.
Her husband sent me this pic, got their son involved saying they'll use some of the money to buy jerseys for their baseball team. He's on the right holding up a sign that says $5 each or 5 for $20.
A Couple nice old men even donated a few dollars for his jerseys. Pretty cool of them.
I asked him how he did, and this is what he said.
I created an opportunity. And got paid for it.
They had no idea this is what they'd be doing on a Sunday morning.
They had faith, and invested $200 with me, and within 4-5 hours made $485..
I made $92 for providing this opportunity. BUT! I'm now their supplier.. and they are coming back midweek to reinvest another $400, and I guarantee this weekend they double that money too.
A few thoughts and realizations I've had over this weekend while doing this..
Profits are better than wages.
Incentivizing people works. ($ per item sold is more exciting than $ per hour)
Capitalize on trends. I got the idea from a guy on product sourcing 101 Facebook group he said (Fidget spinners is the easiest $10k I've ever made) I got in late, but there's still some to be made.
Create opportunities for others
Focus on return on time, be willing to pay for marketing, employees, commissions and overhead (has been a big mental block of mine for years... this was an exercise to help overcome it.)
Go Bigger. Always.
I partied Friday night until about 4am.. then woke up at 6:30am to run this deal..
I partied Saturday night until about 2am.. then woke up at 6:30am to meet this lady..
We make sacrifices for what's important to us. I wanted to hang out with my friends, but I also told these people I would be awake and ready at 7am to get them started.
It would have been easy for me to sleep in and just not make this money.. but I felt accountable to these people. They were depending on me to be awake and there to do what I said I'm going to do. So I realized.. it's easier to let myself down than it is to let others down.. I can live with less, but I won't let myself let others down.
Alright, so that's it. Hope you got some value from this.
Please post your thoughts, criticism, advice, recent experiences, or success stories, or share ideas!
Notice the wristband. Ha!
So how did I do it? I bought these dang Fidget Spinner things on DHGate.. and sold them at my local flea market. Posted on Facebook saying "Anyone wanna make some money this weekend?" Picked one and told her to bring a folding table to my house to pick them up and gave her instructions to set up the table and go sell at the flea market. She makes $1 for each one sold, plus 5% of profit. We sold them for $5 each or 5 for $20. Sometimes people would negotiate and get 6 for $20. Cool with me, volume baby! Put their $20 in my pocket. That's the game.
Gross Sales. But everyone likes bigger numbers.
Some REAL Numbers
Gross Profit: $690.
Time Invested: About 4 hours
COGS: $329.40
Expenses/Commission Paid: $82.00
Net Profit: $279.19
Return on Time ($$): ~$69.80 per hour
Date Quantity Outlet COGS (ea) Gross Sales Expenses Net Profit Notes
Side Rant About Delegation
I could change these numbers by hiring a second person, assuming they sold 80% as much as I did.. They'd make about $238.40 and their commission would be something like $75.. which would lower my net profit, but would drastically increase my return on time.
In this scenario NET profit would be somewhere around $280, but since I wouldn't have to be there.. return on time would be something like $560 per hour or more once established.
I sold the business as an opportunity.
So.. next.. I briefly posted about my success on Facebook. And said "If anyone has $200 to invest and wants to learn how to double their money tomorrow in 4 hours or less, private message me."
A guy messaged me and said his wife is very interested. I told her to meet me at 6:30am with a folding table and $200. I gave her instructions and told her exactly where to go and what to do.. this is what happened.
My COGS is $1.08 each, I sold her 100 pieces at $200. Which reflects my $92.19 net profit above.
Her husband sent me this pic, got their son involved saying they'll use some of the money to buy jerseys for their baseball team. He's on the right holding up a sign that says $5 each or 5 for $20.
A Couple nice old men even donated a few dollars for his jerseys. Pretty cool of them.
I asked him how he did, and this is what he said.
I created an opportunity. And got paid for it.
They had no idea this is what they'd be doing on a Sunday morning.
They had faith, and invested $200 with me, and within 4-5 hours made $485..
I made $92 for providing this opportunity. BUT! I'm now their supplier.. and they are coming back midweek to reinvest another $400, and I guarantee this weekend they double that money too.
A few thoughts and realizations I've had over this weekend while doing this..
Profits are better than wages.
Incentivizing people works. ($ per item sold is more exciting than $ per hour)
Capitalize on trends. I got the idea from a guy on product sourcing 101 Facebook group he said (Fidget spinners is the easiest $10k I've ever made) I got in late, but there's still some to be made.
Create opportunities for others
Focus on return on time, be willing to pay for marketing, employees, commissions and overhead (has been a big mental block of mine for years... this was an exercise to help overcome it.)
Go Bigger. Always.
I partied Friday night until about 4am.. then woke up at 6:30am to run this deal..
I partied Saturday night until about 2am.. then woke up at 6:30am to meet this lady..
We make sacrifices for what's important to us. I wanted to hang out with my friends, but I also told these people I would be awake and ready at 7am to get them started.
It would have been easy for me to sleep in and just not make this money.. but I felt accountable to these people. They were depending on me to be awake and there to do what I said I'm going to do. So I realized.. it's easier to let myself down than it is to let others down.. I can live with less, but I won't let myself let others down.
Alright, so that's it. Hope you got some value from this.
Please post your thoughts, criticism, advice, recent experiences, or success stories, or share ideas!
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