A Quick Guide To Finding Cheap Stock & Assets For Your #SideHustle
As a community of business owners, freelancers and entrepreneurs, we’re all brought together by common ambition. Here at Ms Career Girl, it’s our job to help you on that journey. Of course, the biggest challenge in any self-started venture is the financial aspect. We’re all looking to find things at the cheapest possible rates. That is the answer to making those numbers add up at the end of the day.
Most businesses we speak to deal with some form of stock or assets. They need to purchase regular orders, or they need to upgrade equipment and tools. There’s always an invoice coming from somewhere. There’s always a bill to pay. With that in mind, it pays to look for the cheapest stock on the market. You need to dig deep and get your bargaining hat on, but it’s well worth the hunt!
If you can cut down your costs when it comes to stock and assets, it means you can pass on those savings to customers. You instantly extend your profit margin, and you’ll see your bottom line rise upwards. It all starts with buying your stock at the lowest rate. In this post, we’ll show you some of the best ways to find cheaper options. Let’s take a look.
Liquidated assets
It’s no secret that a large number of businesses fail. Most do so within their first two years. Don’t let that put you off your dreams, it simply means there was a flaw in their business plan. And remember, there is one advantage here. You can look towards the failed businesses and acquire their assets. When a business fails, they liquidate everything left in the company. Ie, they sell off their stock, equipment, and tools. You can find a great deal here if you know where to look.
Exchange
You can bet there’s another company, just like yours, looking for an asset you’ve got. Trading or exchanging assets is a reliable way to offload some of your old equipment. In exchange, you’ll stock up on essential assets that you need in return. We regularly use Capital Asset Exchange to facilitate the swapping and trading of essential equipment. It’s a great way to use what’s around you and connect with other traders.
Bulk buying
We all know the benefits of bulk buying. But, it’s imperative when it comes to buying stock. The more you buy, the better your discount. Of course, you need to balance this with your actual needs and storage capabilities. Don’t buy more than you need just to hit the discount barrier. Sometimes it’s a good idea to team up with local businesses here. You can pool your supplies and stock to take advantage of the bulk-buy discount, and the delivery charge. You share the savings between you. In business, they say be wary of your competition. But, in this instance, it’s often worth approaching them!
As you can see, there are ways you can find cheap stock and discounted assets. Remember, the lower you buy, the higher your profits.
