Today we are very lucky to bring you an excellent borrower interview with Paul; a successful eBay and Reverb seller! Living in the United States, Paul sells refurbished Guitar’s for a healthy profit, and now wants to grow with an eBay loan from Bitbond. His loan is filling up fast and investors can check it out by following the button below.Check out Paul's loan
Now without further ado, let’s get to the interview.
B: Hi Paul, thanks so much for taking the time for this interview! Could you start of by explaining what kind of business you run and what investors should know about it?
P: It’s an online (e-tailer) of musical instruments. Mostly used & refurbished guitars. I have been selling on eBay since 2009 and on Reverb.com since 2014. I started out just selling guitar parts I accumulated of the years and found it was fun, easy, and profitable. So I expanded to selling complete instruments.
I became a licensed dealer and I purchase from a refurbishment center that buys direct from the large manufactures. These instruments are factory 2nds and B stock that are someplace in between new and used in terms of pricing. The margin is pretty good, around 35-40%. The business has been a hit and I can move about 25 -30 guitars a month on-line. I sometimes deal locally via consignment sales at local music stores as well.
B: How come you ended up starting your music business and why have you chosen this particularly niche?
P: I started playing guitar at 10 years old. I am fascinated by them, I collect them, tinker with them, and basically love being surrounded by them.
I played in many Rock bands over the years and the obsession with buying and collecting more musical equipment enveloped me early on. So I followed the philosophy that when you turn a love in to a business it no longer feels like work.
B: What do you hope to achieve with your loan and why did you choose Bitbond over a bank?
P: I want to expand and grow. If I can double my sales, and then triple them, my small business can then become my exclusive way of making a living. The last 13 years I have been a retail Store Manager in the Wireless industry working for T-Mobile. It’s a great job, but guitars are a passion!
As for traditional banks they demand credit card recipients for acceptance. I use mostly PayPal and banks do not consider that even though I have a solid 8 year history of taking in money. Banks are becoming antiquated just like their funding requirements.
B: What is your favorite feature on Bitbond? What features do you think are missing?
P: I am new to Bitcoins so it’s hard for me to say what it is missing? So far the sign up phase and the ease of use have been a pleasure. I really enjoy the fact that it is global and not limited to just where I live.
I have sold many guitars internationally so why not have international investors?
B: What would you want potential investors to know about your loan?
P: It’s going mostly right to the purchase of more product. Which will again add to my growth. Without giving away to many trade secrets like any business I have competitors. My background in the field provides me the expertise to select the right merchandise. Sometimes I will focus on the more unique products others will stay away from.
I feel this gives me an edge and I have lots of repeat clients asking “When are you going to get this guitar or that guitar?” As soon as my loan is funded on Bitbond.
B: What do you think the future holds for bitcoin? Is it the modern-day equivalent of the internet or will it fall flat on its face?
P: I think it could become the future universal currency. Like on Star Trek the need for hard cash will become unnecessary. A need for us all to be using the same format across the world will eventually happen.
B: As a business owner, do you accept bitcoin? If not, what do are the chances of that changing?
P: Since I primarily deal on eBay and Reverb.com I almost exclusively use PayPal. PayPal does allow for easy transfers to and from Bitcoins so hopefully eBay will follow suit in the near future.
B: Thank you Paul, for an excellent interview!
If you would like to support Paul’s business ventures, please head over to his reverb and eBay loan today! The loan is only a few days old, but investors are getting in fast while they can.Check out Paul's loan
Thanks for reading.
Latest posts by Chris Grundy (see all)
- Pick the Best eBay Repricer! Our Top 10 - April 20, 2018
- Which is the Best Amazon Repricing Tool? Our Top 10 - March 28, 2018
- 1741 Fund Management and Bitbond Launch SME Lending AIF for Professional Investors - January 31, 2018