You know well about OLX if you use the internet. Am I right? OLX is a free classifieds website in India where you can Buy and Sell, New and Used stuff online in minutes. From Pen Drive to Truck and Keychain to House, you can sell anything as well as buy anything.
So the thing is, how can you make money (a lot of money) by just selling stuff online (Afterall, we're just selling our own stuff). This thing must be coming in your mind on and off. But before going further, I've to tell you some legal and official rules and secrets about OLX.
First thing, You can't sell controversial stuff on OLX (you know what controversial means), means some adult stuff (adult toys, reproductive health-related stuff, intercourse related stuff, etc.), some illegal stuff like weapons, weapons tutorial, immoral tutorial, etc.) If you try to sell stuff like this (just follow your own intuition or instinct to understand what should be legal and what should be illegal) then you're done. You'd be fall-down into legal troubles as well as a permanent ban in OLX website.
Second thing, If you're thinking that you'll have to pay taxes like GST, Goods tax, income tax, blah blah blah tax on making a profit on OLX then you're absolutely wrong. The tax slab has been separated from OLX selling and Buying. The rule from the Government of India was effected in July 2019. There was 1% tax before but it has ended now. Good thing. How can someone have to pay taxes on his own thing, which he is selling without any profit? It applies on the new item too. Means if you're making any profit on selling on OLX, you don't have to pay any tax. If you're making millions of rupees in a year on OLX, you don't have to pay taxes. Means you'll save hundreds of thousands of rupees of tax (which you have to pay in Jobs and Businesses and income tax and GST)
Third thing, Never ever go outside to sell your stuff (it's just for the security reasons). Nowadays, various types of frauds are appearing over free classified websites. So it's safe to make your buyer come to you to buy stuff.
Watch given below video tutorial to know how to sell and buy stuff on OLX.
Now the main part of this article is "How to make money selling stuff on OLX". This thing is divided into 2 parts.
First-part is 'sell stuff with some profit'. When you search on OLX and find some stuff which you find interesting to sell, then you buy it. If you bargain then you can get some more discount. Next, you have to refurbish this item. For example, you but a Smartphone on OLX with some scratches on screen, battery draining problem. You can replace the screen and battery. The real price of the smartphone in the market is 15k, you buy it in 5k after a bargain and you invest 3k more on refurbishing it and it cost you a total 8k. Now you can easily sell in at 9-10k price (with a profit of 1-2k). Its a decent profit in 1 device. If you could sell 5-6 devices in a month then your profit would be 6-12k a month. The more devices you sell, the more profit you gain. Once you become an expert in it. You can make 40-50k a month easily.
The second part is the main part, where you make a serious business model. I tell you, step by step.
#You buy some stuff online in bulk (You can either buy it from the wholesale market like Delhi wholesale market). These wholesale traders sell stuff in bulk-cheap offline and online both way. Get your stuff in cheap (like mobile accessories, headphone, headset, Bluetooth, case, covers, skins, holders, power banks, wireless devices, OTG adaptor, HDMI port, selfie light, camera lenses, etc.). You can get these stuff in up to 70% discount. If a headphone's market price is INR 250 then you get it in wholesale in around INR 70-100.
#Now you can list these items on OLX with less profit. Suppose A Wireless Battery charger's market price is 1200 rupees, and you got it in 500 rupees, then don't offer it in 1200 rupees, offer it in 800-900 rupees so that your offer could be effected and less competitive and you could easily get a customer to buy your wireless battery charger. You can even make 90-100% profit over it. If you could sell 300 items a month with an average rate of 500 per piece, you'll make 60k to 100k a month. 8,000,00 to 12,000,00 Rupees a Year and with a progressive ratio, over 1 crore rupees in 5 years. All you need to have a business mind and a passion for work.
All the money you'll earn in this work would be tax-free. In cash form. You can invest this money in various stock and bonds, Fixed deposits and other investment businesses. The time will pass with an increasing money ratio and you'll become a millionaire in just 5 to 10 years. If you're 20 and start this business right now. At 30 you'll become a millionaire and could get your own Mansion, Cars and other luxury stuff. If you have dedication then you can do it. If you don't have dedication then you can't do anything which could make you rich.
Make it like a business model, when you earn good money, get your own shop, GST number and selling the license and start this business online and offline. Sell other than OLX like Amazon, Flipkart, Snapdeal and spread your business model. Once you have money, then you could make your ideas broad to grow more. This is not impossible. Once you've decided to do it with a little amount like 5 to 10k rupees, you'll never stop because this trick or formula is proven and will grow by time.
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