Recently I had (seemingly) great idea and in the last couple of days I tried to elaborate on it and do some initial research and planning, on how to turn it into a business.
I'd be essentially filling a gap in the market, as the product is really hard to find - however could be very well marketable and appealing to potential customers.
As it is in an industry that a lot of people are very passionate about (fitness / weightlifting) I think the demand could be established with good promotion (+ educating the customers on how they can directly benefit from using the product).
I have never done any kind of business before, but I do have a solid knowledge on most of the things necessary to run an online business (developing websites, graphics, email campaigns, seo, analytics). I do currently spend a lot of time doing research and getting myself educated on this topic and it would be a great challenge and experience for me (which is always welcome).
I'd be buying the product itself from china (alibaba) as the risk factor (bad quality etc.) is very low in this case. And honestly, I have no idea where else I could get it manufactured.
- here's my 1st issue though: I have tried to contact a couple of the manufacturers, just inquiring about the specs, options for custom labeling and of course samples. I did not get any response yet.
I am not very familiar with alibaba's system itself and not sure about how reliable the messaging system is.
Without getting feedback from them, I cannot move forward - as the whole business is dependent on the product of course!
After I get some recommendations and comments on the idea itself, I will put some more effort into contacting the manufacturers.
I have two concepts on how to actually sell:
1. (easier) using Amazon - this would address only customers that are actually looking for the product themselves. It could work however, as the supply is very low and competition almost nonexistent. Though I would have no sure way to test what the demand is, nor would I be able to influence the market - not sure how Amazon 'self-promotes' certain products, if they see that the demand is high, but supply low (based on search keywords and number of relevant results for example). It would be completely automated though and save A LOT of time.
Sidenote: I have really bad experience with the mofos at ebay, so I am not going that route..
2. (possibly more successful) Create a shopify web (something in this style) for the product and promote it myself on social media.
I feel that this could be far better, as I can validate (see what the demand is) beforehand and have full control over the product, marketing and promotion.
In this way I could create a brand around the product, possibly increasing the customer base myself, by explaining the product and it's relevant benefits on the website / through posts on sm.
Effect: even people that did not know something like this existed, or would never consider buying it, can become interested.
Since I am also very well educated and passionate about the fitness industry, this would be relatively easy. Also as I am in my 20s - which I expect at least 70% of my customers will be - the product / brand could spread almost effortlessly among my friends (and their friends -> and their friends).
3. combination of both
As I said, I have never sold through Amazon or done landing pages, fb ads etc.
This is just an initial plan to gather more information and ideas from you more experienced guys.
I am quite passionate about this, since it could also tie into my future 'dream business' - but I am not going to go into that, the post is already long enough.
I will appreciate all comments and recommendations!
I'd be essentially filling a gap in the market, as the product is really hard to find - however could be very well marketable and appealing to potential customers.
As it is in an industry that a lot of people are very passionate about (fitness / weightlifting) I think the demand could be established with good promotion (+ educating the customers on how they can directly benefit from using the product).
I have never done any kind of business before, but I do have a solid knowledge on most of the things necessary to run an online business (developing websites, graphics, email campaigns, seo, analytics). I do currently spend a lot of time doing research and getting myself educated on this topic and it would be a great challenge and experience for me (which is always welcome).
I'd be buying the product itself from china (alibaba) as the risk factor (bad quality etc.) is very low in this case. And honestly, I have no idea where else I could get it manufactured.
- here's my 1st issue though: I have tried to contact a couple of the manufacturers, just inquiring about the specs, options for custom labeling and of course samples. I did not get any response yet.
I am not very familiar with alibaba's system itself and not sure about how reliable the messaging system is.
Without getting feedback from them, I cannot move forward - as the whole business is dependent on the product of course!
After I get some recommendations and comments on the idea itself, I will put some more effort into contacting the manufacturers.
I have two concepts on how to actually sell:
1. (easier) using Amazon - this would address only customers that are actually looking for the product themselves. It could work however, as the supply is very low and competition almost nonexistent. Though I would have no sure way to test what the demand is, nor would I be able to influence the market - not sure how Amazon 'self-promotes' certain products, if they see that the demand is high, but supply low (based on search keywords and number of relevant results for example). It would be completely automated though and save A LOT of time.
Sidenote: I have really bad experience with the mofos at ebay, so I am not going that route..
2. (possibly more successful) Create a shopify web (something in this style) for the product and promote it myself on social media.
I feel that this could be far better, as I can validate (see what the demand is) beforehand and have full control over the product, marketing and promotion.
In this way I could create a brand around the product, possibly increasing the customer base myself, by explaining the product and it's relevant benefits on the website / through posts on sm.
Effect: even people that did not know something like this existed, or would never consider buying it, can become interested.
Since I am also very well educated and passionate about the fitness industry, this would be relatively easy. Also as I am in my 20s - which I expect at least 70% of my customers will be - the product / brand could spread almost effortlessly among my friends (and their friends -> and their friends).
3. combination of both
As I said, I have never sold through Amazon or done landing pages, fb ads etc.
This is just an initial plan to gather more information and ideas from you more experienced guys.
I am quite passionate about this, since it could also tie into my future 'dream business' - but I am not going to go into that, the post is already long enough.
I will appreciate all comments and recommendations!
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