Originally Posted by
jdhnyc
Hi everyone. I've been looking into buying groups as an easy, legal way to generate spend with reselling, similar to PFS Buyers Club but on a larger scale. I haven't seen any posts on FT, except for one by one of the companies. I'd like to hear about people's experiences- success/failures, best groups, how taxes work on reselling, etc. Any and all comments welcome. Thanks!
Hi,
I'm not sure about the legal aspects and taxes, but I did have an experience with mybuyinggroup.com
You can setup your own group (it's location based).
Find a wholesale supplier and get wholesale prices and minimum orders.
Than add the information to the system.
Invite friends and family to place an order with you.
You can also setup weekly or monthly recurring group if you like.
Than all payment from group members go to you.
You pay the supplier.
Than get the shipping rates and add it to the system.
The system will than notify all group members regarding their share of the shipping.
Once they paid, you pay the shipping to the supplier and they ship the goods to you.
I used the mybiyinggroup.com system my self, we ordered 150 litter of organic cold pressed olive oil together and saved around 40% on retail.
The system is free to use but they do charge 5% on top on the product price.
I hope this helps everyone, especially with the cost of living going up so much.