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Strm

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Hi!

First of all, have a successful 2022 everybody!

This thread is all about choosing a new business project and then executing the plan.

I've been pretty inactive here for the past 7-8 months or so. I had a small online store, selling only locally in Estonia for over 1.5 years. It did decent numbers (for a rookie like me) and most important of all, I learned shtiloads about e-commerce. I sold the store last month as it would've been really hard to scale due to the product and it's manufacturing ways. But I don't regret anything and I know it was the right time to move on. I also own a new curtain store with 2 other people (practically requires no time at all, 1-2h a week) that we opened in October and is doing well at the moment. I didn't expect to be a part of that but things just fell into place so we started it and if it goes well, we can all take some profit from that business one day. But that is more like a side project for me.

So anyways, I now have around 20-25K to start a new business (or maybe 2). I have plenty of time on my hands as I am not working full time. This time I am starting out with scale on my mind and taking the steps to tackle Baltics and Scandinavia first and eventually the EU.

I have a couple of ideas that I am throwing around but haven't tested any of them yet. One plan would be to start an online gift store - buy UV-printer, engraving machine first. I know, there are tons of them but most of them are doing the same shit like printing on mugs, engravings on wood and selling t-shirts. I believe I could find some new ways to make exciting products as I am pretty creative person. With this I would have options to sell to both b2b and b2c. It would require 100% of my time first but I'd be okay with that as everything can be automated with systems and employees. It's a bit appealing because it would give me the chance to make something unique. But the machines would cost around 20K if I buy new, decent brand machines (still a higher entry barrier than ordering shit from China, right???)
Biggest problem - hard to test products without buying the machines. I guess I could come up with bunch of exciting potential products, find someone who can make a couple of each and start testing. Long process but maybe worth it?
Worst case scenario if I go with this idea - would have to sell the machines and lose some money if it doesn't work out.

Feel free to shoot this down and offer your input.

Then there are a couple of niche e-com stores that I am thinking about. In the coming weeks I will look more into them. But whatever I am going to do, this time my ultimate goal is to build a big, well-thought and functioning brand.
 
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Strm

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So thanks to @Lex DeVille laser engraving thread I am in the process of purchasing a similar machine as well, probably going to use my own money but I can pay in 3 months so thats helpful.

I also got a green light from bank to get a 15K loan (for 6 years) for my business - was planning to use it to buy uv-printer but I am now doubting. It is 17K and I also need "blank" items to print/engrave on, mostly coming from Asia (if I am only going with the laser cutter, I will get most material from Estonia). But the transporting costs are way up so I am not sure how it is going to work out. I used to ship my e-com stuff via railroad but that is not an option right now with the war. Only way is through Russia to Finland but not sure for how long it is going to be possible. I will get some info next week from my local shipping partner. Sea shipping is an option but I dont want to wait 2 months for a small batch to arrive.

My biggest goal for this year is to start a new e-commerce brand and I've been working on this a lot. Found a series of products with big potential in my eyes and I've been talking with the company this week. Will make a small order, waiting for shipping price from my partner. Also coming from China.

Oh and for the laser cutter I need a space to work - luckily I found a rental space near my home. It takes around 2 minutes to walk there! I couldn't let it get away so we made a deal this week. I can also use it as a warehouse for my future e-com store.

The laser engraving/cutting hustle is going to be like a small local side business, I think I can get it to a point where it is later possible to sell as a small brand.
Not sure if I am going to take the loan and buy the uv-printer right now.. I have some thinking and research to do. I wanted a smaller one but can't get it before May/June. But the reseller here is selling their bigger demo machine so I could have that. A part of me is wanting to be patient and only start with engraver. :arghh:

I can also take the loan and use it for some other business purposes.. not sure yet.

So short term plan is the laser cutter, takes around 2 weeks to get it and start making cool stuff. Long term is new e-commerce store. The curtain store is also doing well!
 

Strm

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Railroad is not gonna work this time from China to Estonia for ordering test products for the new e-com project. Way too expensive. But I'm still going to order a pallet using sea freight. I'm also looking more and more towards manufacturers in EU that can maybe provide some cool products that fit my chosen niche.

Paid for the laser cutter today, should be here maybe next week. That will keep me occupied as I wait for the products for my e-commerce project to arrive! I am also planning to use it to make cool promotional gifts that I will add to the e-com orders (if I get any :D). I can't wait to get started again, but I know it takes sooo much time.
 

Strm

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I've been looking to find some interesting products and manufacturers within EU and one furniture manufacturer offered me to dropship their products (after I contacted them about some specific products). I am not a fan of the business model (even though I've never done it hah), but they do make some cool stuff and when I searched some similar local items, the price is really high and from most of the stores you get your furniture in 2-3 months. They say that they will make it in 5 days and ship here in 2-3. With the construction and home-building market is still booming here (not sure for how long though), this could possibly be a way to build myself a new SELLABLE asset (for some reason I'm looking almost all the new potential business project with this in mind). I can also offer promotional items with my new laser-cutter!!!

We are still exchanging emails and I want to get as much information as possible. But I have some funds and the startup costs shouldnt be very high, so that may not be a bad idea to test. Worst case scenario - no sales, lose some money. Haven't decided yet.
 
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Strm

Mamba Mentality!
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I've had my laser-cutter for the last couple of weeks now. I haven't had much time to make something with it because of my curtain store orders and for the past week I've been home with covid. BUT! I just got my first order! The e-commerce thing I'm building is more or less in a kids/baby products niche so I have been thinking about things to make with the laser cutter to fit in with that. I will ask the client to put the word out when she gets her order and is satisfied, hopefully next week. Oh and ran some ads for the furniture and got one order as well :D they make kids furniture also so I can just put it up on my website in the future.

Right now I only have a FB page, will start IG soon. The EU product research is ongoing. Some cool products from China are on the way.

I have so much ideas my head wants to explode! I'm a super impatient person so it's difficult to wait for stuff to arrive etc. But I'm a bit sick now so have to take it easy as well. One step at a time.
 

Fastlane Liam

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Hey, would love to hear an update on the progress. I am actually in the exact same boat as you, Im on the fence about ordering a laser engraver to sell personalised products. Have you had much success with it since April? Thanks!
 

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