Bento Lending Service

Being patient is better than losing out on bentos/chibis/items from your lending service.

A hunt is usually 1-2 weeks long, you really telling me there won’t be people willing to wait a couple of days for the hype to die down? Maybe you might not but a smart person would.

Your lending service itself also requires patience. It takes time to buy an item then resell it for profit, and then if you’re constantly doing that to be able to afford an item you want to keep, it would take a very long time.

 

Sorry to break your bubble, but..

She used the service to buy, sell, and create a profit. That makes her a reseller (buying cheap items, selling them at a higher price). Wednesday meant that there are more players who are direct consumers (buying items for good, slowly saves up more money). I don't have definitive numbers, but intuitively, I've met much more direct consumers than there are furni resellers.

coughBANKRUPTCYcough

So, if I can't pay up anything at all, essentially it just becomes a bento trade, right?

 

When you are a trader, you already got your bentos buddy, don’t need to go to a bento lending service ?

How would new users use this?

 

I already explained how you can get more chibis/bentos earlier, and especially if you are a trader, all of it is extremely doable and quicker compared to if you were a new user with barely any items. A trader would have at least a decent supply of items to sell.

After that, you just wait, and for most cases a 999ec that is worth 40b is usually hard to find and most people tend to overprice it so finding a fair deal is even harder, so even if you had enough, you would have to wait anyway.
I’m in that situation currently where I can afford a 50b 999 but I can’t find a seller so I know it from experience. You can even see on campus chat, the same people constantly looking for the same items.

If I were to use your bento service, think how the interest rate would hit me in this situation, I’d eventually be losing out. If you made a profit of 20 chibis from someone borrowing 20 bentos, imagine the profit for 40b-50b, I’d be losing out on a potential extra bento.

 

But anyways, good luck with your service 

 

Here's the thing: your idea is good, but your execution is not. Your interest is one chibi per bento per day.

A bento is about 35 chibis in the market right now. That makes the interest rate (1/35) = 2.85 percent per day . Now, I don't know how much profit resellers get, but let's say, according to your example, they get a 5 bento profit on a 20 bento cost. That's (5/20) = 25%. Not gonna lie, that's quite a big profit to achieve.

But suppose that they plan to find a buyer who will give them that 25% margin. With your interest rate of 2.85%, that gives them (25/2.85) = less than 9 nine days to find a buyer who's willing to overpay.

In more general terms, with every passing day, the reseller needs to find a buyer willing to overpay 3% per day of the loan.

This service is profitable under two extreme settings:

1. They have found a seller who's willing to overpay at about the same time they've found a cheap seller, which I might say, is very rare.
2. They can gurantee that they make a resale on those items within a short timeframe.

At this point, just buying the bentos seem like a much less risky option, not to mention, resellers who are that good at their job usually have enough misc/furni/bentos.

Did I mention that student loans are typically unsecured debt, meaning they don't require collateral? Not to mention, student loans are almost "required" with pressure for higher education and all. A number of students who enter higher education are not there because they "want" to study, but rather because they're starting to "need" to to secure good jobs for their future.

 

I'm curious. I'm not a reseller, nor an avid trader, but do traders usually find a cheap seller and a (really overly) overpaying buyer within a week? I've seen many people on forums sell at market price and not getting any buyers for months. The issue is not finding a cheap seller, but rather, finding both within a week or less.

So at this point, sellers can either:
1. Keep their rare items, go to you and confirm losing money on interest.
2. Keep their rare items, don't go to you and possibly lose on profit.

Unless the reseller can gurantee a good sale, finding an overpaying buyer, when else can the reseller profit? Moreover, how can one gurantee so? I can almost say it depends on luck.

Masters is not "essential" to a job prospect. It's for that reason locals (at least, where I'm studying) have their student fees subsidised by the government. However, if locals choose to pursue Masters, the government does not see this as "essential" knowledge, and they charge normal fee.

Collectors are another issue. Sure, they may "need" to have the complete set, but they aren't as sensitive to prices as resellers. Their "need" for the furniture overpowers their worry for profitability. I don't think they'll use this service either.

 

At this point, I don't think we'll ever agree with each other, so to each their own.

This was where I had issue with, tbh:

We've had good ideas in forums too. This is just very unappealing to forumers or the general player population. It's like marketing for products designed for the rich, to the poor. not that forumers are poor pls

I wish you good luck for your service, but I personally do not like it. The interest rate is ridiculous enough for us to be calling it a "scam".

On a side note, feel free to send people who needs to borrow bentos without interest to me. I have a few bentos which are rotting in my showcase.

 

I see and well somehow understand your point Texan because I’m one of those 2nd type of traders :lol: but even before when you we’re just starting to post about this venture as upside down (is he you?) I never saw the need for this type of business because it might just encourage people to do the same thing then not hold up their end of the deal because tbh I’ve always seen it as this ? items > bentos ?

And as for you saying that selling doesn’t require luck, I beg to differ because buying and selling for a profit is a risk that requires hasty negotiations, charm  and TONS OF LUCK IN FINDING THE RIGHT BUYER WHO’S WILLING TO PAY FOR TOP DOLLAR ? Anyway, all the best to your business. Hopefully others won’t copy it and use it for other purposes.

I’m so sorry for my sentences :cry:

 

Idk of anyone that likes the interest on loans unless they're the loaner. Isn't that part of the reason people dislike banks? I personally would much rather borrow bentos w/o interest like I have done before.

Plus then it isn't so complicated and math-y, and overall this is a game and having virtual debt on top of irl debt is just too much. I mean it sounds like you have people interested in your service but idk, it just seems very extra over a game

Also idk why you're suggesting this is an original idea. I've seen several people advertising similar services for months in wc before now. It isn't new or original

 

I think what we all learned here is

 

Goodluck on your idea/service. Hopefully it works out well for you and your existing/potential clients.
However, I wouldn't personally use this system for various reasons.