OsmanS
New Contributor
So a few days ago I was up at around 2 am doing what I normally do, just browsing this forum and watching a movie while on Facebook and Twitter, when I thought I noticed a business opportunity.
https://twitter.com/#!/search/iphone%20charger%20broke
There's a bunch of tweets about iphone/ipod/ipod chargers breaking on Twitter. Now I already know that selling phone chargers is one of the most over saturated markets on Ebay, but I assumed that since most of the people tweeting about their broken chargers were ages 14-20, they didn't use Ebay (Most of my friends have never purchased anything on eBay) and would be purchasing an official power adapter for 30 dollars from apples site.
In my 2 am drowsiness and overdosing on information from this forum, I thought I had a really good idea on my hands. I would start a site where I would dropship just one product, a generic power adapter for Apple products (which are unbelievably cheap on Ebay) for 10 or so dollars. I thought that if I found a dropshipper with a per product cost of around 3 dollars, I could get 7 dollar margins for each charger I sell.
So I went ahead and bought a domain ( Index of /) and after a 2 hours installed Associate O Matic on it. Then after going through a lot of trouble trying to make it work to my needs, I decided to just buy an eCommerce hosting solution.
Before I knew it, I was ready to spend about 320 dollars on this untested site that I hadn't done any real research on. Thankfully I realized what I was doing before it was too late and went to bed.
The moral of this long story? Beware of impulse entrepreneurship (most of the time) and don't rush into a business with guns blazing on a whim.
Now I might just continue this business and see if it is a viable option.
https://twitter.com/#!/search/iphone%20charger%20broke
There's a bunch of tweets about iphone/ipod/ipod chargers breaking on Twitter. Now I already know that selling phone chargers is one of the most over saturated markets on Ebay, but I assumed that since most of the people tweeting about their broken chargers were ages 14-20, they didn't use Ebay (Most of my friends have never purchased anything on eBay) and would be purchasing an official power adapter for 30 dollars from apples site.
In my 2 am drowsiness and overdosing on information from this forum, I thought I had a really good idea on my hands. I would start a site where I would dropship just one product, a generic power adapter for Apple products (which are unbelievably cheap on Ebay) for 10 or so dollars. I thought that if I found a dropshipper with a per product cost of around 3 dollars, I could get 7 dollar margins for each charger I sell.
So I went ahead and bought a domain ( Index of /) and after a 2 hours installed Associate O Matic on it. Then after going through a lot of trouble trying to make it work to my needs, I decided to just buy an eCommerce hosting solution.
Before I knew it, I was ready to spend about 320 dollars on this untested site that I hadn't done any real research on. Thankfully I realized what I was doing before it was too late and went to bed.
The moral of this long story? Beware of impulse entrepreneurship (most of the time) and don't rush into a business with guns blazing on a whim.
Now I might just continue this business and see if it is a viable option.
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