How to make more money?

How to make money for a Business project (school project so it's imaginary money)?

  • My partner and I were assigned a a project that would have us start our own business. We are only given 100,000$ and were planning on opening a pawn shop in either Las Vegas or somewhere in the South Beach area. We are planning to get most of our items by buying storage auctions, much like the show Storage Wars. Given that renting or leasing a place in that area is going to be expensive, we are worried that we won't have enough money to do everything that we want. Our teacher said that we must make our money legally and are not allowed to do anything illegal to make money such as money laundering or Ponzi scheme. We are also not allowed to bet on any sports events since we could possibly lose all our money as we do not know the outcome. Any help with getting a legal way to make money would be appreciated, and unfortunately investing isn't really an option as the project is due in 3 weeks and any way we increase our money is done by real time standards, so we have 3 weeks to get more money essentially.

  • Answer:

    I see people going to public household auctions, where they auction everything, buying up cheap stuff for $1-$5 investing a total of $50-$100, then selling on eBay for 2, 3, or 4 times the money. The problem with storage lockers is the risk is far too great. You would have less risk in the stock market. It isn't like the TV show. Even the characters on the show admit, you lose money on 50 units before you hit it big. And there are scams. You might be better off with a legal scam. Go rent a storage locker. Let the charges add up to say a $500 bill you are delinquent on, and they auction it off. The way it works is the auctioneer gets like 30%. After that, the storage facility gets what is owed. But if there more money left over after that, the renter gets the money. So you put a bunch of empty Nike shoe boxes, empty boxes of things very expense to make it look to the bidders like there is $20000 worth of merchandise in the unit. They bid up to $4000. The auctioneer gets $1200, the storage facility gets the $500 and costs, say $200 it is owed ($700 total), and you get the $2100 left over.

Spencer Campbell at Yahoo! Answers Visit the source

Was this solution helpful to you?

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.