Starting my own business ~ advise please

[LMC84]

Okay so I'm going to sell children's clothes
I'm just going to shop around for bargains & get a decent amount in then do some party's and advise on Facebook etc
So say if I bought a top for £4.00
How much would/should I sell it for realistically?
I got really good bargains this top was meant to be £16
Also a pair of converse pants I bought for £2.99 that were suppose to be £29.99
What would you advise me on please

Sorry but this is an absolute non starter. Nobody pays full price for stuff that isn’t being bought direct from store.

So many people selling kids clothes, and like any of these ‘party selling’ ideas, once you e sold to all your friends and family, there’s no one left to sell to.

Sorry.

Well where are you sourcing your clothes from? Manufacturers usually give a RRRP (recomended retail price)

If you're just buying clothes from the same sources that are accesible to just about anyone else, then that's not a good business model as there's no predictablity.

You need to be able to work out your profits in advance.

Every ones to constantly keep buying clothes for their kids
I know I have too
N shopping about sales online over seas
Why do I need to work it out in advance?

My only advice would be to source your clothing from wholesalers. In London there are places you can go in and bulk buy lots of stuff.
Also sell on eBay and keep a look out for what sells well on there.

If you're selling new clothes, they will have RRPs. If second hand, you would sell for less... you can work out your ideal mark up from the wholesale price by figuring out how much you need to earn to live (rent, bills, living expenses, business expenses, e.g. postage, extra utilities if you're working from home...), dividing it by the number of hours you'll be working/predicted sales then turning it into a percentage to add on to the top of whatever you buy. You'll also need to inform hmrc that you're self employed and handle your taxes. And before all of that, I'd suggest market research to make sure there really is demand for what you'll be offering, or if people are more likely to just head to the shops or ebay. Definitely google for advice related to your particular idea, bet there's lots of useful stuff sitting out there!

I'm a little confused. Are you in the UK? You talk of converse "pants".
Is this new stuff? Are you buying from a retail source?
I am not sure how the party selling would work.
The clothes market- especially childrens' clothing is pretty saturated.
Unless you are selling something novel or niche.

If you think there is potential then you could start small, I would not invest too much money to start with- just a few things, you could end up making a loss.