After 24 hours of getting very nice magazine inquiries (thank you all), and also doing more calculations of time vs. profit, I’ve decided not to pursue selling magazines for now.
In the end, there is just too much competition in the arena. Want magazines? Check out eBay. The prices are crazy low. I have no idea how those people are making any money. To get my prices, I was taking my own cost, and adding about 50 cents for PayPal processing fees, and then $1-$2 to make it a round number. And I still couldn’t beat most prices on eBay. They must be making some serious volume, or are just willing to work for less…
I mean, take into account eBay fees and PayPal fees, and there’s nothing left. Not too mention most reputable magazine distributors will file a 1099 with your earnings (if over $600 in a year), so you must pay taxes on it too! (Of course, you should anyways minus expenses.) Note: I’ve never bought a subscription on eBay, but the sellers I saw had pretty good feedback ratings.
I am not giving up! I am going to work on making this more automatic with a website with forms, lookup tables, etc. Gotta break out some html books. That way, you guys can find prices easier, and buy things easier. It’s the internet, right?! It probably won’t pay off very well, but the experience in setting up such a site would be worth it. I am also considering putting in some profit-sharing with charity in there.
By Jonathan Ping | Entrepreneurial | 7/26/05, 11:27am