This is Atul Wadhwa from Chandigarh. This is my second post here. (No matter didn’t get any reply on my first post, As they say, Karam kar, phal ki iccha mat kar). I am a regular reader of the magazine ‘Entrepreneur’ and came to know about Mr. Alok Rodinhood Kejriwal from there only. After that, i joined here around a month ago and since then regularly read the posts here, in fact everyday. I highly appreciate & respect all the members to share their experiences and valuable insights here. And especially, a whole-heartedly thanks to Mr. Alok for sharing his so many great experiences & guidance, which inspire so many people like me to take a step ahead.
Coming to the point, i want you to introduce to my case & observations as under:-
I was randomly browsing the classified websites i.e OLX.in & quikr.com to buy a used iphone. While browsing, I noticed on both the sites, there were 1-2 posts stating -(urgent need of money, iphone4S for just Rs. 15500/- and that too negotiable).I called up and found that they were actually interested to sell their stuff at this price. The market rate of this phone (used) in my area is around 20-21k (The prices are low because these are bought outside india and doesnt have any warranty). Considering the fact, an idea struck my mind.The idea is to buy from the people who are in urgent need of money. Even if they have posted on these sites, it still takes two to three days te get a deal done. My idea here is to fill up this gap of 2-3 days as we all know that when we urgently need money, waiting for 2-3 days is so so difficult. The stuff can be bought immediately and the payment can be made after 2-3 hours (being reserved for checking the performance of the product etc.). And later on, the product can be sold online the same way by earning a sweet margin. Along with selling online, an offline campaign can also be undertaken to actually get into the business. The items traded would only be tempting and fast moving such as mobile phones, ipads, tablets and other famous tech goods. And gradually, the scope and categories of goods can be enhanced.The main focus will be that the goods should be fast moving for smooth cash flow.
My queries regarding the case are as follows:-
1. Is this idea feasible enough?
2. Is it scalable? If yes, how much?
3. The initial capital requirement?
4. Should i start my own online website for the purpose from the very beginning or i can wait? And cost for the same?
5. Any other relevant information is welcomed.
So, the rodinhooders, what’s your take on this?
Need ur help all the respected members. Very eagerly waiting for your comments/suggestions. Please spare some time.
Thanks
Atul Wadhwa