So I am starting a e-commerce business for a niche that I am well aware of.
Now I am just starting out, and I am looking at spending $1000 into my first order from my wholesaler for a few products. Just to test the waters and see if the business is viable.
But that puts the cost of my main product at $17.83 CAD landed. My competitor is selling at $17.99 (on sale)
Now if I bump up my order to $2000, the main product that I am selling drops down to $11 CAD landed.
Would you guys recommend starting out first just testing the waters, and taking a loss on your first shipment of products, or would you double up your initial order to make sure you are making a profit?
Now spending the extra $1000 is not an issue for me, I just would hate to be stuck with a lot of product that I cannot move if for some reason the business does not take off.
What are your thoughts?
Now I am just starting out, and I am looking at spending $1000 into my first order from my wholesaler for a few products. Just to test the waters and see if the business is viable.
But that puts the cost of my main product at $17.83 CAD landed. My competitor is selling at $17.99 (on sale)
Now if I bump up my order to $2000, the main product that I am selling drops down to $11 CAD landed.
Would you guys recommend starting out first just testing the waters, and taking a loss on your first shipment of products, or would you double up your initial order to make sure you are making a profit?
Now spending the extra $1000 is not an issue for me, I just would hate to be stuck with a lot of product that I cannot move if for some reason the business does not take off.
What are your thoughts?
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