Small/new business advice?

I'm 16 years old and after doing some research the past few days, i have figured out a way to make about an $8-$10 profit buying from a wholesale company and selling certain items on ebay. I have seen this item sell on ebay with a lot of people bidding on it, and it is also an item that continually runs out in homes so it will not, atleast anytime soon, drop out of the ebay market. I currently have $60 and am to make my first bulk purchase from a wholesale company. After receiving my first shipment i will then sell it on ebay, which again from what i have seen, it will sell fairly quickly with an okay profit. Basically what im asking for is, is this a good idea? If i continue this, i will be able to start buying multiple bulks which in turn will increase my profit each time. Thanks.

Its an idea. Not bad, but not as good as you might think it is. You'll find that out for yourself soon enough. While you can make money at what it is you are wanting to do, my guess is that you will soon be looking for a new way to make money.

Which problem do you want to hear about first? All of the ebay fee's, the non-paying bidders, or the million other people out there trying to do the same thing you are doing? Its tough, believe me. And the niche you think you might have found? Looks good today. How about next week, or next month if you are lucky, when 100 other people are selling the same item at half the price? Be prepared to start looking for a new niche.

Look, you can do what you are wanting to do and be successful at it. Many people have. But its certainly not easy and I'll stand by my guess. You'll be looking for something else to do before long.