If you are reading this, you should already be considered a millionaire. Now lets take a step further and ascend to the next level called Multi-Millionaire. Being a mutli-millionaire means that you have many millions, and thats exactly what you will have after reading this section.
Its not as difficult as you may think. You just have to have some patience and tolerance in this section, bceause you will now have people working for you, and you must rely on them for you to bring in the money.
Now if you want, you can still continue the tanning method as described in Section "400k-1M" or flipping Cowhides as explained in the last section. But we recommend that you read this new section and the new method it holds:
Starting a Business
The time to start a business is now! Why now? Well by now, you have an idea of the runescape economy, an idea of customer/supplier relations, and because you have the proper ammount of money.
Basically how a Business works can be explained in 5 easy steps:
1. You choose a field you wish to go into (eg: Ores, Logs, Hides etc...)
2. Choose specific items in that field.
3. Hire workers to supply you with those items.
4. Decide on a fixed price to buy those items that your workers supply and store them in your bank.
5. Once you have a bulk of that item, search the forums for someone who will buy them for higher than what you paid your workers for them, which should be easy since you are paying your workers a small ammount.
Here is an example of a set-up business using the business layout above:
1. Ores
2. Iron and Coal
3. 10 Workers Hired. 5 Workers will get me Iron. 5 Workers will get me Coal.
4. I'll buy at Iron at 60 each, spending a total of 600k on Iron. I'll buy Coal at 130 each, spending a total of 1.3M on Coal. Total Spent together: 1.9M
5. Found buyer on forums. Sold 10K Iron Ores at 110ea, totaling to 1.1M. Sold 10k Coal Ores at 210ea Totaling to 2.1M. Total made - 3.2M! Profits: 1.2M!!!
As you can see, the previous business layout (which you can use), is a very profitable one. You can get Iron and Coal for those prices because miners who are focusing on their mining level and want some money also will think that 70ea or 120ea for Iron and Coal is a lot of money. The higher level players are always buying Iron and Coal in the forums since those are the main Ores used to level up Smithing fastest.
Lets talk about the business layout in more detail.
1. Business Field
The first thing you should think about before starting a business is what field to go into. Be sure to go into a field that provides a profitable gain. Hot fields of business are Ores, Hides/Leather, and Logs. Now you need to decide which items from that field your Business will specialize in. For the sake of better explaining, we will assume you are headed into the Ore Field.
2. Items to Deal
Once you have chosen your field, you need to consider what items in that field your business will specialize in supplying to the higher levels. You need to consider which items are in hot demand, easy to get a hold of, and can sell for a good profit. For example, if you choose to go into the Ores Field, Iron Ores and Coal Ores are good item picks because they are easy to get since they're the top picks for Miners training their mining levels and they are in hot demand since they are the basis of gaining high smithing levels, making them easy to sell. And most importantly, they generate EXTREME profits!
Similarly, regular logs and yew logs are good in the Logs Business Field because they are easy to get due to the players training woodcutting and easy to sell to members training fletching or just making arrows. So it's best to know what item is hot in each field if you want to have a business that brings in big profits.
3. Workers
In a Business, you are not expected to gather all the materials. You hire workers who get the items for you in large ammounts, and you sell them at a higher price and get profits at large ammounts. So the success of your business and the amount you make depends on how reliable and productive your workers are. At first hiring workers may sound difficult, but if you try, you can find workers very easily and quickly. Know where to look for your workers. For workers to gather Ores, its best to go to the Al Kharid or Fallydor East Bank since there are Iron and Coal mines near. Start typing "Hiring workers, pays well, add me for details." Be friendly but firm with your workers. Be curtious to them, but set a minimum ammount they need to supply you with daily/weekly if they wish to keep their job. Otherwise your business will lose productivity (amount being bought and sold) and the rate at which you make profits will be drastically slowed down. Since you are just starting out your business its best that you not exceed 10 workers, because more might become difficult to manage this early on in your business.
4. Pay
Have a firm set price for your workers. Be sure that the price you buy the items they supply you with is below what you are selling the supplied items for. The best thing to do is give them a little more than the minimum street price for the item. For example, if the usual minimum amount people pay for Iron Ores is 50ea, pay your workers 60ea. This keeps them loyal to your business because they think they are making more than the street price. As long as you are happy with the profit you make, you can pay your workers and buy from them at whatever price you wish. Right now we recommend you buy Iron Ores at 60ea if they are being supplied by workers. Give them a bonus of 5k-10k once in a while and say something like "This is for your good work" to keep them motivated and loyal to your Business. It also helps to have a website where your workers can check pay, work that needs to be done, and times you will be most active to buy from them. Since you should have 2M if you are reading this section, you could for example, pay your workers 60ea for 10K Iron and 130ea for 10K Coal, which will cost 1.9M. Then sell it to someone who will buy the item in bulk. Since the workers are gathering the materials for you, you yourself could log in say once a week and you'd still make millions. You just log in that one day and buy what they gathered, and not have to log in again for the rest of the week! This depends on how reliable your workers are and if they will be on with the items when you tell them to. So really pick those workers wisely! Fire some if they're not being good! You could also do some of the methods stated in the previous sections while you wait for your workers to gather the supplies, and make even more money.
5. Selling Supply For BIG Profits!
Once your workers have sold you a lot of the items, say 10K of each, you are ready to sell them. As long as you sell the item for more than the low price you paid your workers, you can make a profit. To look for a buyer, go on the forums and search for "Buying *blank*" under the field your Business is in. Then you could PM them in the game and work out a price. So now say you have the 10K Iron and the 10K Coal you bought from your workers. You could sell 10K Iron Ores at 110ea, totaling to 1.1M. And you could sell the 10k Coal Ores at 210ea. Totaling to 2.1M. So in total you made 3.2M! Thats 1,100,000 GOLD in profits! Using that money you can keep buying more supplies from your workers and keep selling to buyers at a profit. You can experiment with any Field you wish and with any item you wish, but so far being in the Ore Business Field buying Iron and Coal is the fastest and easiest way to making millions. If you can make that same deal stated above another 2 times, then you end up with 5M and are ready to move on to the next section!
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