Forums: Discussions for entrepreneurs and small business.

Hey guys this is my first post so i`m looking for some good critical feedback. About a year ago i bought an X box 360 off craigslist for $200 from someone in town. We met at a public location (wal mart or something) and the product worked great. After about a month of playing i got bored and decided to try and sell it for the original $200 when i heard advice from a freind that i could get at least 350 for it. I put it back up on craigslist for 350 and sure enough received 3-4 responses and sold it that same day. 150 dollars for 10 minutes of work.

Football season came around at my University (Big SEC school) and i noticed people around campus selling tickets for face value and others reselling the same tickets for about 150 dollars the week of the game, netting them 140 per transaction. Now while this is not illegal by the state it is against school policy, which is why i never got involved, but i saw potential in ticket sales of other things where there were no restrictions. (concerts, pro sporting events etc).

So i am just wondering if anyone on this forum has experimented with buying and selling items on craigslist or other sites? As long as the buyer and sellers are both happy with the deals i don`t see a problem with ripping anyone off. Could this be pulled off successfully as a monthly/yearly income?

Keep in mind there are many markets for this such as cars, electronics, tickets and textbooks. (I have freinds going to the bookstore dropping 1K per year when they could be getting everything for 300)

Any advice/feedback criticism is much appreciated

I use CL,often it is a great community.. about tickets though I suggest you be careful, I often get tickets the day before or day of for pennies on the dollar, because in a few hours they are worth nothing.
Just a thought

Thank you for the replies thus far, they have been very encouraging, i came across this venture because i have such a small amount of money to invest as a college student with no hope of getting a 9-5 in this economy.  If anyone has any other suggestions on how to profit, please let me know. Thanks!

A "business" implies both a long-term continuing venture, and an income that pays for your standard of living. Selling one or two items here and there is a nice hobby, makes for some pocket money, and involves having some fun.

But to run a business, you`d have to sell enough each month to pay your bills, set aside money to purchase inventory, cover your other costs (including probably shipping), and improve your standard of living.

Inventory would be your main problem. But a hidden problem is that anyone can take down your ad for no explanation at all. If they just don`t feel like having you advertise, they can shut it down. If you start selling quantities of items, the likelihood is someone will just close you down.

Craig-

First off i would like to thank you for taking the time to critique and analyze my business idea.  You brought up some important points that I was not aware of.  I have heard of being "blacklisted" from craigslist, but what I dont understand is how they can keep you from making new accounts all the time, (not that i would do this, i just dont understand the concept).  Sure they can block an IP address but with the number of wi fi hot spots im not sure how they can control this.  Anyways,  i gave my business a shot today for the first time.  I bought LCD 15 inch magnavox TV for 60 dollars and succesfully resold it for 180, taking up about 30 minutes of my day to post, buy from the seller and then sell to a buyer.  I know 120 isnt much, but i have a feeling that if i can do this full time on a mass scale, it just might work.  If you have any other business ideas that I could get involved in with little investment, i would love to hear of an opportunity.

Thanks

ECONAK

It`s not that you get blacklisted, or have a blocked IP address. It`s that other readers or users of CL can simply "tag" a listing as objectionable.

I can tell you there are zealots on CL that will flag you for no apparent reason. it happens a lot to me and is a pain in the butt.
I am pretty sure some are my competitors, as it seems to happen more frequently when they put up an ad. I won`t retaliate but I just repost, usually the same ad.
but there are self proclaimed saviors of CL that will flag you for their interpretation of your ad.
but there are al ot of other sites, backpage, sell.com, pennysaver, oodle, usclassifieds, the list goes on and on, these other sites seem to be many people sick of CL politics.

my wife has used it to sell some toys - it has been generally positive.

-------------------------

James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com