Tuesday, April 12, 2011

Make Money Selling Erasers

Erasers. The kind you buy at the store and stick on the end of your pencil.

They're awesome. Why?

Who knows. It's just one of those things you remember being "all that" from elementary school. And yet...

I still love em'. I'm just weird like that.

Earlier today when I was browsing Books-A-Million (that place gave me *so* many ideas!), I saw a pack of Easter erasers similar to the one that you see in the image to the left. They were selling for $1.99.

My idea is really simple and sure to bring any kid 12- a nice profit to help save up for that great new toy!

What You'll Need
Hopefully, you have a few bucks for investment money. Those erasers won't pay for themselves, you know! If not, you may want to open up a flower stand to earn your cash (pretty easy and requires no investment money!).

You could also ask you parents to invest in your idea. Promise to pay back the money they give you (if they say "no", try offering interest*). Be sure to also promise that you'll work to pay back the money if for some reason you end up making nothing off of this idea.

How To Do It
Kids love having neat little things like festive erasers. Think about silly bandz: they aren't any different from regular rubber bands. Except for the fact that they're shaped differently (e.g. instruments, animals, ect).

And everyone loves them. The creator has made millions of dollars off of this simple invention - and he's still getting paid!

So, how can you make a profit selling erasers?

Well, let's say you buy the pack in the image above and it costs the same as the pack ($1.99) that I saw at the store. There are a total of 12 erasers. If marketed the right way, you could sell each eraser for 50 cents. If you sell them all, you make $6. That's almost triple what you paid for the pack in the first place!

If you only had enough cash to buy 1 pack, you could take the money you made and invest it into more packs (buy more packs). Sell those erasers and use that money to invest into even more packs.

See the pattern? If you continue to sell erasers, you'll continue to make even more money.

Market Your Erasers
Kids are almost always willing to give up a little lunch money to feel that they're apart of something cool. By selling erasers, it's almost like you're creating a club. The people that have erasers will feel cool because they're involved in something exclusive (not everyone is going to buy from you).

In order to market (advertise) your erasers, you could take a few and use them on your own pencils. Tell your friends how cool you think they are. Don't brag or try to make those who don't have erasers feel bad. Just be excited when you tell other kids about it. When you think you've convinced them that your item really is the "next best thing", offer to sell some.

When you sell erasers, ask your customers to tell other kids about your business when they get the chance. Don't beg and don't make them promise to do so before they can buy from you - it may frustrate them and cause you to lose customers.

Change It Up
If you notice a certain kind of eraser has become boring, buy different packs. They don't have to be Easter-related. They could be race cars, flowers, funny faces, monkey heads...the wider your variety, the more likely you are to sell. You could even buy "stubbies" and draw your own faces on them as shown below:

Don't Have A Books-A-Million Nearby?
Eraser heads aren't only sold at Books-A-Million. I've seen them at Publix, The Dollar Store...pretty much any place that has an area selling office supplies will also be selling eraser heads.

Go For It!
Sometimes, the simplest ideas can have the most value. Not only can you make money off of this venture, but you might also find that you have fun doing it. If that's true, don't stop here. There are always more opportunities to make money. Whether it's an idea from the Internet, or something you come up with on your own, never be afraid to try. Believe in yourself and your abilities.

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*interest - when you can afford it, give them a little more than they give you

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