The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

GOLD! I will help you find a product to sell on Amazon

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,708
36,303
5,083
Scottsdale, AZ
Hey @biophase, I've read through most of your writing and have learned a lot from your experience in selling online. A team of myself and two others have developed a product and began beta testing with others, and we would love to hear your thoughts.

Product Idea: Wireless Meat Thermometer
Related Listing: https://www.amazon.com/dp/B07Z7HDNC4/?tag=tff-amazonparser-20

Problem: This Product Category (Bluetooth/Wireless Meat Thermometers) does a few million in sales every month according to Helium10. However, top products are riddled with poor reviews (software lacking features, poor connectivity, privacy complaints, etc.). Not to mention, through our manufacturer research (your book was tremendously helpful @Walter Hay), we have found that 90% of the products in this category are simply private labeled with no additional value add, and 99% of products in the space are the same color.

Solution: We plan to add value to the consumer by addressing the handful of recurring issues that customers complain about across these products with our custom product+software.

We've been working directly with a manufacturer and are about to place our first order for 100 custom units. Our per unit cost to land for this initial order will be ~$30. Subsequent orders will be cheaper per unit. We aim to target the $75-100 price range.

While we plan to start by selling in-person, we believe selling on Amazon is our best next step. Our product will have batteries & be a consumer electronic. What should we look out for that we may not be considering?
Sorry I didn’t see this earlier. I think my first question would be are you also doing an app that goes with this product? If so you will have to keep that app updated.

Having batteries will be an issue. I’m not sure how much of an issue because I don’t have any products that use batteries. But I do know that there is a questionnaire that asks if your product uses batteries and I always check no so I never see the next questions.
 

fridge

Contributor
FASTLANE INSIDER
Speedway Pass
Jun 4, 2020
46
65
112
USA
Hey Biophase,
I'm currently working on building out my seasonal based business. I offer pressure washing, just started offering gutter cleaning and will be offering christmas light installations). I still find myself with quite a bit of time during the off season (mainly pressure wash from March-June). I keep finding myself drawn back to starting a garden supply company that sells a variety of things, but first starting off with garden decorations. So far I have sold about 40-50 units on eBay of these 3 particular cat garden statues, but want to expand out and build my own shopify store, along with adding 5-10 other products (will cost me $1.5k~ to get a few hundred units). I'm still brainstorming ways/ideas to add value, with these cats specifically I could see altering the "welcome" text, but other units could lend themselves to being solar powered lights as well as decorations, be made of weather withstanding material, and potentially be glow in the dark. Can you let me know what you think of this product/niche? I'm on the fence because the revenue won't be re-occurring (buy once and done for the most part).
 

Attachments

  • cat statue.PNG
    cat statue.PNG
    425.3 KB · Views: 7

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,708
36,303
5,083
Scottsdale, AZ
Hey Biophase,
I'm currently working on building out my seasonal based business. I offer pressure washing, just started offering gutter cleaning and will be offering christmas light installations). I still find myself with quite a bit of time during the off season (mainly pressure wash from March-June). I keep finding myself drawn back to starting a garden supply company that sells a variety of things, but first starting off with garden decorations. So far I have sold about 40-50 units on eBay of these 3 particular cat garden statues, but want to expand out and build my own shopify store, along with adding 5-10 other products (will cost me $1.5k~ to get a few hundred units). I'm still brainstorming ways/ideas to add value, with these cats specifically I could see altering the "welcome" text, but other units could lend themselves to being solar powered lights as well as decorations, be made of weather withstanding material, and potentially be glow in the dark. Can you let me know what you think of this product/niche? I'm on the fence because the revenue won't be re-occurring (buy once and done for the most part).
I don’t see a brand here. I see a Knick knack product that people buy at Home Depot or Walmart garden without regard for brand and quality.

It’s not something that I’d start a business with.
 

Hamoude321

New Contributor
Dec 25, 2019
6
5
11
Australia
I'm currently going to be getting wholesale items and flipping them on eBay but most products give a low profit like $7 i was wondering should you always try and double your money at bare minimum, I'm doing this temporarily until i find a good product to start a ecommerce business and can design a product/improve it, so what % profit margin should i be aiming for,

also there is so much competition no matter what product you choose should you keep looking for low competition products or should you just focus on creating value/solving a problem and create a better version of the product

Thanks in advance
 

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,708
36,303
5,083
Scottsdale, AZ
I'm currently going to be getting wholesale items and flipping them on eBay but most products give a low profit like $7 i was wondering should you always try and double your money at bare minimum, I'm doing this temporarily until i find a good product to start a ecommerce business and can design a product/improve it, so what % profit margin should i be aiming for,

also there is so much competition no matter what product you choose should you keep looking for low competition products or should you just focus on creating value/solving a problem and create a better version of the product

Thanks in advance
I don't think that there is a minimum profit margin that you should shoot for. The profit amount just needs to be enough for the business to make sense for you.

Alot of it depends on the amount of work you need to do. If a product takes you 1 hour to build and 1 hour to ship are you going to do it for $7 margins? $3/hr? But what if the same product takes you 10 minutes to make and ship? Now $7 per unit is $42 an hour.

I think no matter what, if you want to create a long term sustainable business, you must focus on creating value.
 

fridge

Contributor
FASTLANE INSIDER
Speedway Pass
Jun 4, 2020
46
65
112
USA
I don’t see a brand here. I see a Knick knack product that people buy at Home Depot or Walmart garden without regard for brand and quality.

It’s not something that I’d start a business with.
Got it, I'm definitely going to ditch that idea.

I've been doing some research and after going through dozens of ideas, I found another idea I like: a snake catcher tool/snake prongs.

The item would be around 2-3 ft and the value add would be my item would build off of current flaws of the snake prongs available on the Internet right now. In addition to this, perhaps a catching kit for snakes and other common reptiles/yard nuisances could be made, with the kit including varied length prongs (possibly adjustable prongs), with common items that could help (perhaps people would like a bag or bucket so they can contain the snake and it doesn't bite them -- this could be useful as some regions have venomous snakes that would be more of a nuisance than just pain). What do you think?
 

Ing

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 8, 2019
897
887
267
55
Bavaria

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Yo! In 24 hours my Udemy courses go bye bye.. (for real this time) Gotta make way for...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
Hi Guys! Just wanted to chime in and say that I am a part of Fox's Web School program. Though I...
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Any update? Hey bud! When I can squeeze out the time to work, it's been going pretty well...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...
  • Sticky
MARKETPLACE Entrepreneur's Toolbox: Company Formation, Virtual Mailbox, Registered Agent, Remote Online Notary
Appreciating the transparency and lack of hidden fees. The website is very up-front and user...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...

Forum Sponsor

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom