Notes from Chris

Episode 1824

There are certain things that are much more expensive in some countries than others, simply because industries have lobbied for monopoly control or price protection from the government.

One of the best examples of this is glasses and contact lenses. I wear contacts and when I was traveling abroad much more regularly, I’d always plan to buy them when I was overseas. Inevitably it was much cheaper and I didn’t need a prescription.

A listener discovered this recently himself, and he saved a lot of money. It also got him thinking: since the price is so much lower outside the U.S., and a lot of Americans wear contacts, can he buy them in bulk while he’s traveling—or even pay to have them shipped over—and start his own resell business?

"On a trip to Argentina a while ago, I learned that it's possible to buy the same brands of contact lenses in countries outside the U.S. for much cheaper—like sometimes 40-50% cheaper! Sometimes the brands use a different name, but the product is exactly the same. This makes me think there's a market opportunity here. Could it work to buy them overseas and sell them here, maybe on eBay or Facebook Marketplace? You also need a prescription to buy them in the U.S., but in other countries you just walk in and tell them what you want. I’m not sure how I’d handle that part and if I’d need to do some sort of verification or not."

Listen to today's episode to learn more...

 

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  SEE ALSO:

• Summer Job Reselling Silver Brings in $10,000: When his roommate makes $2,000 buying and selling silver in one weekend, this student turns off the TV and starts his own education in precious metals. He goes on to earn $10,000 his first summer.
• Woman Uses Language Skills to Import Moroccan Jewelry: Knowledge of local culture—and an extended Moroccan family—help an IT manager set up a side business importing and selling jewelry.
• Nomad Family Cooks Up $40,000 Profit With Houseware Import Business: A traveling family creates a houseware reselling business using the Fulfillment by Amazon model, with profits going straight to their travel fund.

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,

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