Luckily my wife works part time and brings home about $700 a month extra that we use for all of our extraneous expenditures. She doesn't always work the same amount of hours though so this varies a little as well, but you get the idea.
I decided I needed extra income to pay my debts off as fast as I could! I want out from under them as fast as I can possibly manage it, gazelle intensity (to borrow from Dave Ramsey). So I needed to do something, and this is what I decided on!
I tell you all of that to premise my decision to start a business. Starting a business is always something I've wanted to do, so I thought I'd jump in feet first and give it a try. I live in Arizona so I filled out their forms to because a licensed reseller, paid my $17, and hopefully within two weeks I'll have my business license. Now the catch here is that I still have my normal 9-5 job that pays the bills, and I need to keep it, at least for now while I build the business up.
The Business
so one of my personal stipulations for making some extra money to get out of debt was that I didn't want it to take away from my time with my wife. We've only been married 6 months so this is a very important time in our lives to spend together (not that it isn't always important). I decided the best way to make a little extra money was to work from home so that I can still be around for my wife and we can still spend it together even if I'm "working".
I decided on an eBay business. I'm going to sell things on eBay, and hopefully make 20% profit (about 10% after eBay and Paypal fees) reselling through a wholesale dropshipper. I also plan to supplement this with items I pick up at yard sales, and being in a large metro area there are always sales. I plan to make 100% profit or more on things I buy at yard sales if I can find the right items, this is my goal anyways. I haven't gotten all the details worked out, and even if I only make $50 a month thats fine with me. I just needed something to do to make a little more income.
I decided on an eBay business. I'm going to sell things on eBay, and hopefully make 20% profit (about 10% after eBay and Paypal fees) reselling through a wholesale dropshipper. I also plan to supplement this with items I pick up at yard sales, and being in a large metro area there are always sales. I plan to make 100% profit or more on things I buy at yard sales if I can find the right items, this is my goal anyways. I haven't gotten all the details worked out, and even if I only make $50 a month thats fine with me. I just needed something to do to make a little more income.
My first items are going up on ebay soon! So i'll occasionally report back how the business is shaping up. If it completely flops I'm out like $17 for my business license and it is a lesson learned.
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