I’ve never bought and resold products before, but a few weeks ago I had this idea to customize certain types of shoes with band patches and sell them to fans in band groups, in a 50% markup. When I had the idea, I bought a couple pairs of shoes to start out, we took in almost $500 this week alone, but I have made so many little mistakes that I feel like I have taken a vow of poverty, where I have to cover some orders with the little bit of money that I have from other orders that people put in with cash. Then Shopify basically locks up all of my money for multiple days… When do I get rich? This is not what I was expecting.
Well this is the reality of business, either quit now or keep going and learning. Takes time
How much $ = rich?
50% markup is too low
This is how small business works. It’s hard work, and not a get rich quick scheme.
Not at all what r/povertyfinance tells you, lol.
Do you have the rights to use other people’s logos and intellectual property?
I doubt it lol, impressed this wasn’t asked sooner. OP can definitely get away with it for a while (I did too when I was starting out), but should be expecting it to end at some point.
Don’t ever go into anything to become rich as 99% of the time it won’t happen, so something for the passion and the money will come.