Search

Watton business cost £162 on Ebay

PUBLISHED: 09:50 26 March 2010 | UPDATED: 11:40 08 July 2010

A NORFOLK internet entrepreneur has put his money where his mouth is by spending just £162 on Ebay to set up his latest venture.

A NORFOLK internet entrepreneur has put his money where his mouth is by spending just £162 on Ebay to set up his latest venture.

David Riches has opened a shop in Watton where people and businesses can take items to be sold for them on the internet auction site.

Everything in the Thetford Road Business Park unit, from the computers and printers to the tables, desks and telephones, was bought on Ebay.

Even his van, which he allowed himself a £5,000 budget, came from the auction website.

“It was a bit of an experiment,” said Mr Riches, 37, whose previous ventures include a US-based website conference call business sold for £250,000 in 2006 after being set up in 2004 at a cost of £2,000.

The new business, called The Selling Shop, works by selling items brought in by people who do not want them or businesses who want to sell goods online but without having their own online presence.

Cash is made by taking a percentage of the amount goods sell for and part of the cost of the postage, splitting the cost between the buyer and seller.

Since opening in January he said business was slowly picking up and last week he had a call from a firm in Scotland wanting him to sell printer toner cartridges for them.

“I think it has the signs of being a good business and it is starting to go national,” said Mr Riches, who also works as a consultant and thought up the idea after seeing similar ventures thriving in America.

Most Read

Most Read

Latest from the Watton and Swaffham Times

Hot Jobs

Show Job Lists