Saturday, 18 October 2008

How to Make Money in Economic Crisis

How to Make Money in Economic Crisis
The thought that one could earn the big bucks even by working from their homes would fascinate everyone. With the advent of the Internet, this fascination has turned into a reality.

Wholesale of Products
People would always buy from you, provided, you sell them what they want and that too, at an unbeatable price. This is where Wholesale business comes into the scheme of things. This business has a good profit margin and has a lot of potential for making money even in economic crisis. This involves you buying a certain "lot" of a product from another company, at wholesale prices, and, selling them further to customers at retail price.
A good way of going about selling merchandise is that you initially start off with small quantities of the product, in order to measure its selling potential. Then one can always gradually rise up the ladder.

You can cut the middle -men in the workplace directly with exporters, and see the price savings of over 80% on major products which you are already buying.
The decrease in prices would help you, in turn, to start selling wholesale products to other vendors, flea market vendors and retail shop owners.
There are cases, however, when certain companies have certain restrictions or have set the maximum retail price above which you can not sell the product. But generally, it is up to you to sell the product in whichever manner you want and at whatever price you want.
It is also observed that most wholesalers tend to earn a considerable profit. However, there is a flip side to the coin. That being the fact that there is risk involved, as you might not be able to sell all of your stock. And you have invested money even before you begin selling the product. But don't let this undermine you. Remember that it reaps huge benefits as well, if properly executed.

Drop Shipping
It is a supply chain management practice in which the retailer does not keep the merchandise in store, but alternatively transfers buyer orders and delivery particulars to wholesalers, who then ship the goods directly to the buyer. The retailers earn profit on the basis of divergence of wholesale price from the retail price. Many sellers on online auction sites also drop ship.
There are a lot of things to learn before you begin your path towards having your own Internet business and none better than a good forum on how to make money online
http://www.incomemanual.com
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