John McTighe . . . Missing In Action
 

Hi folks:

I have up-rooted and moved into the country for more relaxed living which is great! It is the moving part that sucks. Since then, my mail disappeared for about a week and then has been delayed and has caused a few headaches for those that have ordered my kit via regular mail. Sorry for any delay.

Don't get me wrong. It doesn't mean my wheels have not been turning. I have in fact bought and sold quite a few items from my moving and have also focused my attention on creating "income streams" from the sale of personal property. I have done this by offering "terms" on higher priced items like cars, like-new furniture sets appliances.

I have found I can sell items for more money, often times 50%-100% more just by offering a payment plan to the person. I just sold a car for $800 over retail book value by accepting the risk of taking payments from this individual. The other nice benefit is that you can create a residual income off of just a single sale. Get paid many times from one sale.

Don't get me wrong. There is some risk involved since you are offering credit. I do screen people by asking some simple questions to see if they are solid people that will pay me back. I have 4 sales that I have made on terms and am trying to build that up to at least 10 items so I can get 10 payments from people each month.

I am also playing around with the idea of using automatic drafts from checking, savings or credit cards to eliminate "chasing" people around for money.

Anyhow, my goal is to move into selling larger items for terms like mobile homes and higher end cars that will yeild higher returns and less risk.




Make Money Buying and Selling

That's a GOOD Idea! Do you also do this...
 

John:

That's a brilliant idea! And I bet you also move (sell) the items faster too, don't you?

With the smaller items that are still a little too large to throw in the back of a sedan, do you offer free delivery or charge for delivery?

I've found, by asking people how they will move the item they are buying, after they have bought it (knowing before hand they only have a sedan), and then offering to deliver it for a fee, I can get extra money from the transaction.

Maybe I could "make the sale" easier/faster by hinting at delivery before they have decided to buy. But I couldn't be bothered with "selling." I have a "there it is, take it or leave it" approach.

I have begun to test the idea of adding "can deliver" in my fliers for larger, heavier items like washing machines, lounge sets, sofas, etc. Maybe it will get more calls, faster. We'll see.

On another note... In the last issue of The Great Ideas Letter - http://www.sowpub.com/greatideas/ -we showed a guy who increased his business 500% (sold five times as much as he used to) by renting his product to his potential customers, with the option to buy. He let them rent-try-buy.

It seems to me, you could also do that as well as offer terms.

Of course, if you're selling the items fast enough anyway, then you might not need to offer a rent-try-buy thing.

On the other hand, if you allow only a small portion of the rental to go toward the purchase price, you get more money out of the transaction.

Sure it means a little more paperwork. But it could be worth it. Depending on the item you are selling. I know it works for the product the guy in The Great Ideas Letter sells.

Michael Ross


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