IDEAS FACTORY: Teeny-weeny Idea, Large Profits

I met a guy last week who claimed to have started over 100 businesses.  Most of his businesses made less than £1000 a month but he has been known to sell several of them for over £50,000 each.
 
He finds a product with a high margin and sources it normally from the Far East.  He puts together a simple website and uses forums and Google AdWords to generate traffic. 
 
The businesses are all on auto-pilot and he uses a shopping cart for the banking and a fulfillment house to dispatch the products.
 
Once he has 6 months trading under his belt, making £1,000 a month plus he advertises his business for sale.
 
Investors who can see his profits of £10,000 on auto-pilot should be happy to pay £50,000, giving them a 20% return on their investment.
 
By starting a new business a month and selling 4 of those businesses a year he could net £200,000, plus the profits from the businesses he doesn’t sell.  He claimed that most of his businesses cost him less than £500 to set up.
 
However, once I started to cross question him he became uncomfortable giving me too much information and clammed up.
 
However, it’s an interesting concept and one almost anyone could try.Until the next time ...

George