Cuda1447
Lifer
OMG I accidently just deleted everything I typed, so here goes again...
Background: The college I go to has a bookstore that will buy and sell used and new books. Most people try to buy used cause its the same thing and they are only for a semester but quite a bit cheaper. The bookstore will sell someone a book for 80 dollars used, and turn around and buy the same book back from someone else for 20.
Basically what I want to do is the same thing, only undercut their prices. They are totally ripping people off. I was thinking of setting up a website where I can take requests for books people want to sell and buy, and then set up times where we can make the deal on campus. Maybe have block times were I can do quite a few deals at once. If you figure I will buy a book from someone for 35 while the bookstore would only buy it for 20 why not go with me right? And then I'll turn around and sell it for 65, instead of 80 like the bookstore, thus still making a 30 dollar profit per book (obviously these are theoretical numbers).
There are a few problems I have though.
1. No office location, I'd have to set up times to meet up with people. Obviously not as convenient as what the bookstore offers.
2. I'd need a business license Im assuming? How hard is it to get one of those, and learn the basics of running a business (I'd have to pay taxes right?).
3. Knowing which books won't be used on campus anymore. Usually the college knows 1-2 semesters ahead of time, so I'd have to be able to find out about the same time as them to ensure I don't get stuck with books that no one can use. How would I go about doing that? The way I understand it the bookstore is the only people who know, and they find out from the publisher. I doubt the bookstore would willingly give me that information if Im trying to undercut their prices.
4. Another convenience issue... I would only be able to accept cash. I'm not exactly sure how credit payments work, and don't have a machine that could do that. While at the same time checks seem a bit high risk. If someone rights me a bad check Im going to be out the money, and small claims court would be to much work, for little reward.
Im sure there are a few other problems I just skipped over for one reason or another. Any advice or ideas would be great. Im trying to figure out if this would all be worth it in the long run, or if its just another one of my stupid ideas?
In any case, any input whatsoever is much appreciated!
Background: The college I go to has a bookstore that will buy and sell used and new books. Most people try to buy used cause its the same thing and they are only for a semester but quite a bit cheaper. The bookstore will sell someone a book for 80 dollars used, and turn around and buy the same book back from someone else for 20.
Basically what I want to do is the same thing, only undercut their prices. They are totally ripping people off. I was thinking of setting up a website where I can take requests for books people want to sell and buy, and then set up times where we can make the deal on campus. Maybe have block times were I can do quite a few deals at once. If you figure I will buy a book from someone for 35 while the bookstore would only buy it for 20 why not go with me right? And then I'll turn around and sell it for 65, instead of 80 like the bookstore, thus still making a 30 dollar profit per book (obviously these are theoretical numbers).
There are a few problems I have though.
1. No office location, I'd have to set up times to meet up with people. Obviously not as convenient as what the bookstore offers.
2. I'd need a business license Im assuming? How hard is it to get one of those, and learn the basics of running a business (I'd have to pay taxes right?).
3. Knowing which books won't be used on campus anymore. Usually the college knows 1-2 semesters ahead of time, so I'd have to be able to find out about the same time as them to ensure I don't get stuck with books that no one can use. How would I go about doing that? The way I understand it the bookstore is the only people who know, and they find out from the publisher. I doubt the bookstore would willingly give me that information if Im trying to undercut their prices.
4. Another convenience issue... I would only be able to accept cash. I'm not exactly sure how credit payments work, and don't have a machine that could do that. While at the same time checks seem a bit high risk. If someone rights me a bad check Im going to be out the money, and small claims court would be to much work, for little reward.
Im sure there are a few other problems I just skipped over for one reason or another. Any advice or ideas would be great. Im trying to figure out if this would all be worth it in the long run, or if its just another one of my stupid ideas?
In any case, any input whatsoever is much appreciated!
