Your Questions – Part 1

I get a lot of great emails from you guys and i really appreciate you taking the time to get in touch with me. Here is a small selection of some questions i have been asked that i think will appeal to other readers of my blog. I am in a very fortunate position here and i want to help others i meet on this journey with any knowledge I can share. Please do get in touch, it would be great to connect with you, share stories and maybe do some business along the way. Continue reading

Factory Quality Control Visit

Since moving here my “job role” has adapted vastly to suit my environment. I did originally move here with the idea of sourcing product for my own business to sell back in the UK. This has since developed somewhat and I have also started to source directly for others thanks to people getting in touch through this blog. Continue reading

Canton Trade Fair – Phase 1

I have wanted to visit Canton Fair for about 4 years now, I was put off by two things in the past that had I known what I know now, would not have been an issue. Number one being getting a visa and number two being getting from Hong Kong airport to the Fair. I almost came here to the Fair in 2008 and I was trying to organise the trip through a Chinese agent. Continue reading

One last job before I leave.

Now and again you get something me and my friends call “a touch”. I suppose it could be described as when you come across a really good circumstance that leads to a financial gain. Well on Wednesday I had a bit of a touch.

I have had a few of these since i have been buying bankrupt stock and it’s a real buzz when you find yourself with high retail price products that a bailiff, auctioneer or private vendor has mistakenly undervalued. Sometimes of course they know the value but they just need the goods outa there, either way if your on your toes you can enjoy the benefits.

I bought a variety of stock from a bankrupt electrical components wholesaler. Some of which I recognised from previous jobs and some of which I knew nothing about. When it comes to the latter I suppose that’s not entirely true. With all this technology we have these days I guess valuing assets has never been so easy, my iPad is worth more than it’s weight in gold and 5 minutes on it makes me an expert on any product or piece of machinery – as long as you know where to look.

One product caught my eye and I quickly looked it up, cheapest price on the net was £660. These are large commercial electrical breakers usually found in factories and usually costing £800. You can see a pic of one of them below, not very exciting right? But then sometimes the best ways of making money are pretty boring – look at football. There are 20 units and if I blow them out at £500 each that’s 10k, a pretty nice return. Obviously I was more than pleased for them to be in the job lot I had just picked up.

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Now you dont get these kind of deals every day but when you do I guess it makes you realise why you do all this running around.

What I have realised over the last couple of years of doing this is that the key is margin, if you can offer a product at the most competitive price yet still yield a good margin then your onto winner, in my experience this can come from buying stock as cheap as possible or having a really high value niche market item. At one time you could do both, I guess part of me going to china is to see if this is still possible.

I guess you would like to know how to do this? Well keep tuned, I’m happy to help you guys have your own little touch.