Hey guys,
im a rather new and young member to this forum but have recently feel like i came across an opportunity to make some good starting money. One of my really good friends who is in the whole sale cellphone business making 5-10k a month is willing to sell me cellphones for about 1-5$ per cellphone for what he is getting it for. I watched build his company from scratch, no employees but himself while i was in college for two semesters which is what really inspired me.
Main issue- money (capital)
His connect has a minimum of 5k per orders. I am a junior in college and don't really have that type of money saved up. Thinking this out thoroughly i came up with a couple of options. Keep in mind i have never dabbled in any business ventures besides reselling certain clothing brand and shoes for a profit
1. find an investor: i went to one of my very close friends growing up who sells drugs and doesn't exactly know what to do with his money. I told him my ideas and plans and am waiting on him to get back to me. Also if i do find someone else what is actually a fair rate or % ( i have 0 experience in this again). Right now i am legit banking that he does this since i know he is trying to do something with his money.
2. another route i can take is by switching my supplier who charges about 10-30$ more than the main supplier depending on phone model. i found this to be a decent alternative because he is a close friend of my friend and is also located locally in my hometown ( but again i also dorm away from home). My friend said he would be willing to pick up and ship the phones for me to help me get started. With no capital i would need to get my customers to use paypal or https://www.behalf.com/ to send me money that i would then send over to my supplier. I need to use my hometown connect in this situation because of the time it would take for the product to get to my customers. If i buy off my main supplier it would takes 2 days to get to me than another 2/3 days to get to my customers. Customers usually get their stuff 2/3 days after paying for their goods from what my friend has told me.
I am asking you guys how you guys think i should proceed to handle this?
I asked my parents and they just dont believe in me.
im a rather new and young member to this forum but have recently feel like i came across an opportunity to make some good starting money. One of my really good friends who is in the whole sale cellphone business making 5-10k a month is willing to sell me cellphones for about 1-5$ per cellphone for what he is getting it for. I watched build his company from scratch, no employees but himself while i was in college for two semesters which is what really inspired me.
Main issue- money (capital)
His connect has a minimum of 5k per orders. I am a junior in college and don't really have that type of money saved up. Thinking this out thoroughly i came up with a couple of options. Keep in mind i have never dabbled in any business ventures besides reselling certain clothing brand and shoes for a profit
1. find an investor: i went to one of my very close friends growing up who sells drugs and doesn't exactly know what to do with his money. I told him my ideas and plans and am waiting on him to get back to me. Also if i do find someone else what is actually a fair rate or % ( i have 0 experience in this again). Right now i am legit banking that he does this since i know he is trying to do something with his money.
2. another route i can take is by switching my supplier who charges about 10-30$ more than the main supplier depending on phone model. i found this to be a decent alternative because he is a close friend of my friend and is also located locally in my hometown ( but again i also dorm away from home). My friend said he would be willing to pick up and ship the phones for me to help me get started. With no capital i would need to get my customers to use paypal or https://www.behalf.com/ to send me money that i would then send over to my supplier. I need to use my hometown connect in this situation because of the time it would take for the product to get to my customers. If i buy off my main supplier it would takes 2 days to get to me than another 2/3 days to get to my customers. Customers usually get their stuff 2/3 days after paying for their goods from what my friend has told me.
I am asking you guys how you guys think i should proceed to handle this?
I asked my parents and they just dont believe in me.
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