Talking of which.......

I was talking to some guys the other day who run a very successful online business.

I'm not sure how well it would work in the UK but its been incredible for them here in the US

They do something calling Online arbitrage.

The concept is pretty simple.

In the US anyone can re-sell stuff on Amazon.com

Say an item is selling on amazon for $100

They see an online store has a sale on for the same item for say $80
Now after fees and hassle there isn't much profit there but....
They often triple or quadruple dip.

They buy gift cards for that store at a discount and with a credit card that pays 2-10% back.
They also buy the e-gift cards using an online portal which pays a % to shop through.
Go to cashbackmonitor.com to show some examples.

Sometimes they buy giftcards on ebay with a discount plus they also get ebay bucks and credit card rewards.

They then take the e-gift cards and go back through the portal for more cashback and then buy the item.

They can often make 20-40% margins on reselling items after all the fees.
Not bad when you can run everything from your house.
(In the US if you have a home office you can deduct a % from you taxes)
There are no taxes on items you plan on reselling, you set up a company as such.

Posted By: usacanary, Sep 2, 13:29:31