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After reading through Vigilante's great thread and trying to soak up all the information, I decided to go through with one of my ideas.
I will update you guys on how it all goes step by step but here is where I am at so far.
So Far
- Found my product
I'm fortunate to be in contact directly with some of the factories in China. Partner's family own a factory in China in this product's niche and are good friends with some of the owners of the other factories in the area. This has really given us some good prices and we have been able to weed out the pushy people who are only interested in dumping their product on you.
- Researched competitors
I'm in the UK so have researched most of our competitors here, there is only one dominant player and the products we are importing are better quality and we can offer them at competitive prices as the main player is quite expensive.
- Ordered samples
Its a pretty sucky time to be importing / ordering samples because of Chinese new year and the fact they celebrate it for multiple days... so I'm not going to get my samples until late February. However we are fortunate to have a good relationship that we can order few products and they will send them to us at the same prices quoted for larger orders. They are also willing to customise these samples to our brand.
To Do
- Create brand
This is the tricky part, we are aiming to not be the cheapest however provide quality. Still trying to settle on the name and come up with the brand logo.
- Create online shop
- Once I have the brand I can customise the online shop to fit our brand
Very excited, reading / doing as much as I can right now, going to get everything done in time for the samples to arrive. Need to confirm their quality, they source their raw materials from the best in China and so far they look very good with the pictures they have sent over. Also partner's parents have been to the factory to inspect the quality so just need to get some over to confirm this for myself.
Let me know if you have any more questions / suggestions or flaws in my strategy.
Thanks!
I will update you guys on how it all goes step by step but here is where I am at so far.
So Far
- Found my product
I'm fortunate to be in contact directly with some of the factories in China. Partner's family own a factory in China in this product's niche and are good friends with some of the owners of the other factories in the area. This has really given us some good prices and we have been able to weed out the pushy people who are only interested in dumping their product on you.
- Researched competitors
I'm in the UK so have researched most of our competitors here, there is only one dominant player and the products we are importing are better quality and we can offer them at competitive prices as the main player is quite expensive.
- Ordered samples
Its a pretty sucky time to be importing / ordering samples because of Chinese new year and the fact they celebrate it for multiple days... so I'm not going to get my samples until late February. However we are fortunate to have a good relationship that we can order few products and they will send them to us at the same prices quoted for larger orders. They are also willing to customise these samples to our brand.
To Do
- Create brand
This is the tricky part, we are aiming to not be the cheapest however provide quality. Still trying to settle on the name and come up with the brand logo.
- Create online shop
- Once I have the brand I can customise the online shop to fit our brand
Very excited, reading / doing as much as I can right now, going to get everything done in time for the samples to arrive. Need to confirm their quality, they source their raw materials from the best in China and so far they look very good with the pictures they have sent over. Also partner's parents have been to the factory to inspect the quality so just need to get some over to confirm this for myself.
Let me know if you have any more questions / suggestions or flaws in my strategy.
Thanks!
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