TL;DR: Can I buy second-hand toys, make them better with my 6.5 years old daughter and sell them for a higher price?
This year for Christmas, Santa brought some Lego bricks for my 6.5 years old daughter. She has a few sets, but not so much, so I wanted to buy second-hand bulks of bricks so she can create more sophisticated things.
Then I realised: some people have a lot of sets that they acquired during a long period and they lost a few pieces. Then they sell everything in one batch. So my idea would be: I buy such batches, we (my daughter and me) sort the pieces, check the missing ones, buy them if necessary, build the sets, and then we sell them for a higher price. With this money, we can buy some more sets for our own collection or buy a new batch and start again.
I already asked my daughter if she'd be interested, she said yes, but I'm not sure if she exactly understood the idea.
At first glance, it seems to me to be a very nice idea:
- Playing with the bricks is fun, for my daughter but for me as well
- She can learn some basics of investing money, spending it wisely and generate income (so, basically, how any business works)
- She can even learn a little bit of photography and marketing when selling the complete sets
- Don't forget some basics of accounting if we do things right
- She will also understand the concept of a loan because I will be providing the initial money
- She also learns to let go the toys she had fun with
- And, and this may be the most important thing, this looks like some very valuable father-daughter time
But, and that's my question: what are the downsides?
One I can think of is that she may be a little young to do business, does she really need to be a businesswoman instead of just having fun with her toy? Additionally, why would a child need to work to buy their own toys?
Side note: in any case we don't plan to get rich, a 5 or 10$ beneficial margin could already be very nice. It would not be a real business.
Thank you for any insight.