Entrepreneur thinking
Posted: May 28th, 2021, 2:57 pm
During the war and for some years afterwards there was rationing of many things often including 'special offers' to be had by knowledgeable job lot traders.
One such person (A) would buy job lots of practically anything then sell to his trader customers (B) who would then sell on the items in smaller parcels to their own customers, actual market traders (C).
One day A bought over 200 wooden boxes each containing 144 tins (a gross) of sardines, at the equivalent price of 1p per tin. A then sold them to B at 2p per tin. B then sold them in smaller quantities (whole boxes only) to C at the equivalent of 3p per tin. C then opened up the boxes and sold single tins from their stalls at 4p per single tin.
Within a week, A was inundated with calls from C whose customers were complaining the sardines were off. A's reply to the C was "The sardines are for buying and selling, not for eating!"
(Source: Andrew Perloff, Panther Securities plc
My editing)
One such person (A) would buy job lots of practically anything then sell to his trader customers (B) who would then sell on the items in smaller parcels to their own customers, actual market traders (C).
One day A bought over 200 wooden boxes each containing 144 tins (a gross) of sardines, at the equivalent price of 1p per tin. A then sold them to B at 2p per tin. B then sold them in smaller quantities (whole boxes only) to C at the equivalent of 3p per tin. C then opened up the boxes and sold single tins from their stalls at 4p per single tin.
Within a week, A was inundated with calls from C whose customers were complaining the sardines were off. A's reply to the C was "The sardines are for buying and selling, not for eating!"
(Source: Andrew Perloff, Panther Securities plc
My editing)