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  1. Walter Hay

    Let's talk about franchising

    HOT! 
    I agree completely about the poor deal it would be to buy franchises of Restaurants and C-stores. Yes if you want scale your business by franchising, you need to make it dummy proof, and for that you need a well set out and complete Operations Manual. (Franchises always use that term, not...
  2. Walter Hay

    Let's talk about franchising

    HOT! 
    It's great to see that you have got started. You should be aware that most franchise consultants have a vested interest in selling franchises, so you need to compare your proposed franchise as best you can with something similar. That should give you an idea what initial fee and what royalty...
  3. Walter Hay

    Let's talk about franchising

    HOT! 
    There are plenty of lawn mowing franchises sold. I think they are a shocking waste of money, and I have rescued several people from blundering into buying a job and paying for the privilege of mowing lawns. Instead they could have some cards printed and offer the first cut for free. If they set...
  4. Walter Hay

    Ask me anything about eCommerce (Ongoing)

    GOLD! 
    It can also depend on the nature of the business, and how deep are the pockets of the buyer. When I sold my successful industrial chemical business, I had no trouble getting 4X. The buyer did not even attempt to bargain. He was in a JV with a huge merchant bank. They examined the history of the...
  5. Walter Hay

    Why Amazon Sucks: The Master Thread

    HOT! 
    There are two main reasons for so many sellers having near identical listings: Amazon's greed. Several years ago they blitzed Chinese media offering to sign up Chinese vendors and "teach" them how to sell on Amazon. The success of JungleScout in persuading large numbers of people that selling...
  6. Walter Hay

    Why Amazon Sucks: The Master Thread

    HOT! 
    For several years I have warned against shipping direct from suppliers to Amazon, because if the product sells well Amazon will have a head start in taking the business away from their unsuspecting sellers. They will know where to source the product, although they have the resources to find...
  7. Walter Hay

    Why Amazon Sucks: The Master Thread

    HOT! 
    There are many ways to sell on Amazon, but only the insiders know a number of them. RA can be very lucrative if used correctly and as a seller you don't enslave yourself to bargain shopping. You can legitimately bypass Amazon's TOS by incorporating your URL in your labels and on your...
  8. Walter Hay

    Why Amazon Sucks: The Master Thread

    HOT! 
    Thank you @AgainstAllOdds for what I see as your exposé of JungleScout. I have posted many times about the folly of using such a system as the basis for setting up an Amazon based business. JungleScout have set themselves up as high priced Amazon Gurus, and in numerous posts I have dealt with...
  9. Walter Hay

    "Biz for Sale" Bird Dog...is this a thing?

    @UnrealCreative In the realestate world there are businesses operating as buyers' agents. They get paid by the buyer, not the seller or the seller's agent. From what I have seen they are usually operated by one person without staff. I see a good possibility for you in that type of business...
  10. Walter Hay

    Hello to all! A new beginning!

    INTRO 
    It's great to have you with us Sarah. So far you seem to have done well despite the difficulties that being a single mom bring. Now you have the mindset that can take you much further than you previously dreamed. By all means finish your book. Whatever you do, don't consider it a failure if you...
  11. Walter Hay

    Blank DTG Mug production supply issues

    A good lesson learned. This is why I say that depending on shipment volume/weight, air freight can sometimes cost more in total than door to door air courier service. The time lost can be substantial as you have experienced. If the value exceeds $2,500 you will be required to lodge a formal...
  12. Walter Hay

    Blank DTG Mug production supply issues

    Good! Getting the shipment from the seaport will need the assistance of a freight forwarder. Walter
  13. Walter Hay

    Blank DTG Mug production supply issues

    @FLTechGuy you are entering a field that can lead to great problems. I advise against picking up from a shipping terminal unless you are familiar with the process. Depending on which terminal you go to, you could spend an entire day in a queue of trucks, and still not get to pick up your...
  14. Walter Hay

    Dilemma: deal with 3 separate factories to protect a product or 1 and risk it all.

    No you don't need to have the final design ready. The NNN is intended to protect your idea. Make sure you do your due diligence on your suppliers before making your choice. Walter
  15. Walter Hay

    Dilemma: deal with 3 separate factories to protect a product or 1 and risk it all.

    You should have an NNN signed at the earliest stage in discussions with suppliers, otherwise you might not have complete protection. Cost of enforcement would be too high for most people so Justin might be your man. He tells me that he has most success by bluffing rather than court action. Walter
  16. Walter Hay

    Dilemma: deal with 3 separate factories to protect a product or 1 and risk it all.

    It is true that NDAs don't work in China, but the Chinese NNN does. It is not so easy to prepare, but if you want protection for your idea, it is really the only way. It is essential that the agreement be written in Chinese and acknowledge that Chinese law applies. Never include any reference...
  17. Walter Hay

    MARGINS

    I'm sorry to say that although my book is relevant to most countries, it is only published in English. Buying tech parts can be done either way. A lot of the orders I and my franchisees placed were completed successfully as a result of sending a sample to the manufacturer who copied it exactly...
  18. Walter Hay

    Magnesium for better sleep

    HEALTH 
    If you want the best absorption of magnesium try having an Epsom Salts bath, but you can get a good dose by soaking your feet in a solution of Epsom Salts. Or you can follow the more expensive way of buying what is called Magnesium Oil, which is that same solution. Walter
  19. Walter Hay

    MARGINS

    Yes I am familiar with John Spiers and his blog, but I have never read his book. From what I have seen in his blog, although he gives some attention to importing inventory for sale, he is primarily advocating what is in fact a dream promoted by many people. The theme sounds glamorous: Set up an...
  20. Walter Hay

    Sharing my lifetime experience in export/import. Product sourcing specialist.

    GOLD! SOURCING 
    I have received a question from one of my book buyers, and with his permission I am posting it here together with my answer. Q: After a long time research and I found a niche which could be a potential good one for me to explore. Then I referred your book and decided to use a sourcing company...

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