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Chewing gum business

Discussion in 'General Entrepreneur Discussion' started by pipedream2017, Nov 7, 2018.

  1. pipedream2017
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    pipedream2017 Contributor

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    So I like throwing ideas out in the forum I hope it doesn’t bother anyone, anyways, I thought of another one:

    So I got this idea from gimbal machines. What if I go up to my local restaurants and bars and ask them if I can put a small box with packs of chewing gum, selling for 1 Euro each 50/50 on the profit. I think this would be good because people will usually want chewing gum after eating/drinking. This is cheap business to start up and could have huge potential as there are 1000’s of bars and restaurants, maybe even branch out to other types of stores that are small businesses.

    Hit me with the feedback
     
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  2. lowtek
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    lowtek Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

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  3. pipedream2017
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    Cheers for the help haha
     
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  4. Lex DeVille
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    Lex DeVille CAUTION! I hurt people's feelings... Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Some thoughts that came to mind:

    - If it's cheap to start, why ask for feedback instead of just doing it and knowing for sure?

    - Why wouldn't the business just buy gum at a store, resell it for a profit, and cut you out?

    - Some places already offer this for free, but they do it with mints

    - There will be the production costs for the gum, testing flavors, branding and packaging

    - Gumball machines already exist so that might be a way to get in on the market without the production time and cost, but you'd have to invest in the machines and find places willing to let you put them in their restaurant
     
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  5. sparechange
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    sparechange Gold Contributor Speedway Pass

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    Why not just go out and try it?

    And where are you actually getting the gum?
     
  6. pipedream2017
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    pipedream2017 Contributor

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    Gum would be already big brands. Wrigley, orbit the standard gum packs with about 10 pieces. I think I’m gonna buy a box and ask my local kebab shop
     
  7. sparechange
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    sparechange Gold Contributor Speedway Pass

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    Give it a go, let us know how it goes
     
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  8. B. Cole
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    B. Cole Stop me. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Not to bust your bubble (pun intended) but I see absolutely no barrier to entry here. I also don't see the economics of splitting the gum profits with the businesses and having margins that make it worthwhile. You're basically making yourself another (extremely discounted) distributor in the supply chain.
     
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  9. amp0193
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    amp0193 Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I think your idea is not worth pursuing.

    However,

    I don't think anything interesting has happened in gum in a long time.

    Probably means there's an opportunity somewhere.
     
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  10. minivanman
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    minivanman Gold Contributor Speedway Pass

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    In small towns in Texas they've done this for decades. We actually went to this cafe when we took the back roads back home from Austin. When I was a kid our family used to stop in at this backwoods cafe...... they still have the gum/candy display in front of the cash register from when I was a kid. It wasn't filled with all the candies it used to be but there was some gum in it.

    Ok, how about this idea, go around to all the bars in town and ask them to put an aluminum can in front of the register and ask for 1 penny from everyone. 500 bars x $10 in each can a week = $5000 x 52 weeks = $260,000 with basically no work involved and TWICE the income of collecting cans. <<<<<<< For those not familiar, you will need to read the other thread before you see the humor :rofl:
     
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  11. sparechange
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    sparechange Gold Contributor Speedway Pass

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    lol had to search it up but i got it

    hey atleast hes trying

    lets just see ya execute something @pipedream2017
     
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  12. pipedream2017
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    I don’t see what the point in you taking the piss is? I’m throwing ideas around and your sitting there laughing? If you wanna be a immature then don’t even bother commenting. Grow up
     
  13. Lex DeVille
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    Come up with better ideas and stop crying. Vet your ideas before you waste our time with stupid sh*t like, "I'm gonna buy a pack of Big Red and see if people will sell it for me and let me keep half the monies..." If you want to be taken seriously, post seriously well thought out ideas. Or just go do something and post your results. You asked for feedback and you got it.
     
  14. Startup Steve
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    You have to validate the business viability. You do this by putting the unit out there.
    • What is the profit sharing model you propose to the establishment?
    • What would it cost you to set up a unit?
    • What is the cost should you have to move the unit?
    • What is the recovery amount should you have to sell the unit?
     
  15. Arun Siva
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    Arun Siva aspiring 大君 of the bourgeoisie Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass Summit Attendee

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    the only way your idea would work is through incredible marketing (think 5gum from yesteryear) and also INGREDIENTS: i think there is an educated enough populous that knows the harmful effects of sorbitol, sucralose, aspartame and other poly bonds and modified sucrose-sucralose structures that are not necessarily good for ones biological makeup in the longrun.

    but again, is it worth your time and effort in hiring the right minds (chemists, food scientists) to undergo a revampment for a product that is not worth much?
     
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  16. minivanman
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    minivanman Gold Contributor Speedway Pass

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    I did grow up once but it was no fun. :hilarious:

    And by the way, I see I'm the ONLY one that made a comment on your gum idea that had ever seen it done before; even though it was 1940's-1970's era. Back in those days something along those lines might have been more profitable. I have a friend who has gumball machines. We were talking the other day because he said he is behind in his taxes. He has gumball machines all over Texas and they are not making much of a profit at all. Paying for gas to go around to all these gumball machines is killing him. Back in the day he said he used to make a good living between gumball machines and money he received from placing pay phones around town but the days are behind us for both of those. But, for less than $1 you could try out both your ideas and who are we to tell you that one of them might stick. I'll front the $1 but then I need 33% of the profit. :)
     
  17. luniac
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    luniac Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I love this guy, the jolly version of Theag lol
     
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  18. amp0193
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    amp0193 Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I think you're on to something here.
     
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  19. Arun Siva
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    Arun Siva aspiring 大君 of the bourgeoisie Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass Summit Attendee

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    Thanks @amp0193 . just my 0.02 cents because of the information nowadays and a slightly more educated populous that knows what they are putting into their bodies... (not talking about the latter that dont mind chewin the crap gums)
     
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  20. Nigel B
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    Nigel B Life Long Learner Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Don't know why but the title made me think that the OP was looking to be paid to chew gum - as in a "Gum chewing" business. Would probably make a similar profit margin.

    Costco was built for any old business owner, to put any old thing they want in front of their customer and to make a decent margin on it. I get there are not Costcos everywhere, but there must be a bulk equivalent in your part of the world should they want to do it. They don't bother due to the making 50c on a pack of gum for a table which just paid $50 (or whatever local equiv) is not worth the brain-damage - instead they sell desert, or coffee on a better margin to everyone at the table.

    If there's virtually no barrier to entry, and the people with the customer didn't see it as worthwhile - it probably isn't.

    Just my 2c.
     
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  21. pipedream2017
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    Coming back to this thread, I did a bit more research and found that in spain there are 350,000 bars/restaurants. Also found that 374 billion BILLION sticks of gum sold a year worldwide (popular demand)

    I think this idea could possibly work as at bars and restaurants is the time when you actually could do with eating gum (after drinking and eating)
     
  22. minivanman
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    minivanman Gold Contributor Speedway Pass

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    Keep us updated! :thumbsup:
     
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  23. pipedream2017
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    Also wanted to add that I’m talking about chewing gum packs, the packs of 5 or 10 sticks (here it is 10 small square shaped pieces)

    I’ve seen gum for sale here at the price of 1 Euro. For me to buy it will cost me 0,50 per pack (wholesaler would be cheaper) minus VAT (21%)

    To get into the bars/restaurants I could do one of the following

    1) give them a share of the profit (which would be rather small so I don’t know if they would even bother)

    2) give a % to charity, this option would probably be the best as the business would be more inclined to help if it was for charity
     
  24. minivanman
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    So if you had to guess, how many places do you think you will get in to within the next year?
     
  25. DragoonDB
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    @pipedream2017: You've introduced an idea you believe in, and received a lot of feedback. Implementation here is pretty straightforward, so my question is...

    In the past 20 days since you introduced this to the forum, have you approached any bars/restaurants to get feedback on your idea?

    If not - especially on something that's minimal investment for you, and where you can get quick feedback from your potential partners - what is standing in your way? Get this done by the end of November and let us know your results. Pursue it or kill it before you go into December.
     
    Last edited: Nov 28, 2018

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