The founder knew that if he could leverage his buying power, he could obtain competitive pricing and pass forward that savings to his customers.
If he could just make a cent on every sale, he could be rich! And that he did. These stores became multi million dollar businesses worldwide and Frank Woolworth became one of the Richest men in the World (if not the richest).
Before we go on, we just want to tell you a little about us. Who are we? We are a group of people from all professions. We are from Purchasing, Procurement, Merchandising, Distribution, Bloggers, Writers, Online store owners, Affiliates, Friend Referrers, Couponers, Telecommuters, Stylists, Personal Shoppers, Tech driven and money savvy. The one thing we all have in common is that we understand this same basic principal.
Saving money is making money. Sure, we are savvy with money and finances in many more ways than that, but we want to start you out simple.
The days of making money online from clicks is long gone. Now, readers are savvy. No more pop-ups forcing you off course. You have to build confidence with valuable content.
Sure enough, if Frank Woolworth were around today, he'd be online. He'd have an eBay store, an Etsy one, a Blog and then build his way up from there. Sounds easy, right? Well, you gotta know how to save money before you can make money. And vice versa.
For instance. In your household. If you spend $300 car, $200 food, $75 phone, $99 tv/internet, $120 entertainment PER Month, that would be $794. Or $9528 PER year.
If you get 5% savings off the bat you'd get $476.40. That's not chump change. That's a road trip!
Same holds true for finding products to sell. In Retail now a days, don't be fooled when Kohl's or Macy's has a Sale 35% OFF! They started at a 50% margin. Trust me they are making a profit. But what happens when you leverage your purchase? You go direct and ask for 100 pieces or 1000. Your partner vendor will cut back his markup to make the deal and you can make a profit too.
But who do you sell to? The Mass audience. The Public.
We've been there and have done that. Now, we are sharing our successes with you, offering you ideas and guidance on where to go and how to look for it. Don't be afraid to click around. Read. Absorb. Sign-up. Ask questions. You can always ask to have your email removed if someone sends you junk or spam. It's like saying no to a proposal. Good Kharma applies here. The more courteous you are the more it returns to you. Sharing is caring.
If you have an interest in these concepts, but are not ready to start your own business full time, apply for a Purchasing or Procurement job to learn the ropes. Search Indeed or Careerbuilder to find out more. Or pick up a book.
F.W. Woolworth's did finally fizzle out to later become Sporting Goods then it became Footlocker. The key here is whatever you do, always make sure to balance your delivery, with service and cost. Never loose sight of quality. I'd much rather have a Coach bag than a neon green purse from the dollar store. As we Purchasing people say, compliments of Frank..."Don't nickel and dime me now!" But we will! I want an additional 10% off!
If you are going to succeed working from home. Realize you'll be Self Employed, not Retired. So you'll need to learn many new Trades. More to come! Find out more about Pajama People: http://frugalfireifb.com/pajama-people/
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