Moving to an online shop

[Moneymakermitch]

Here's where I'm at and what my vision is.

I currently work for a small buisness that does about $500 000 a year. Heaviest months being OCT-JAN. We do good and have a big market to sell too but don't have a fully functional online shop. We have a facebook page with updates on new stock and a website that says the stores hours with the brands we carry but no online shopping cart site.. Now I'm not the owner but I see an opportunity to approach the owner and tell him "put aside the products that you want to see gone, I'll run and operate an online store and in return I'll get 25% and you'll get 75%. We have enough units of product in the store that if we sold each unit for $1 we would have $100 000+. That's how much product we have..

What do you guys think about that proposal?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Moneymakermitch]

Any input??

 

[theag]

whats your experience?
whats the competition like?
who creates the store?
who does the marketing?
who pays for marketing?
can your margins sustain paid advertising?
will you get fired if you lose his money?

25% of what?
he wont do revenue so must be profits. and to make profits in ecommerce these days you need to know your shit.

so, sure, propose it. just dont expect to make a ton of money with it. see it as a paid learning experience if he agrees.

if he does agree start stupid simple. shopify shop with paypal payments & buy traffic through a google shopping campaign. set up analytics ecommerce tracking down to product level. you dont need more to start.

if your inventory has a lot of brand names there are ways to bid higher for those branded keywords on google shopping and make it very profitable. you can outperform almost any competitor like this if your prices and products are at least half decent.

I see people fail with this daily. some take my advice fully and their shop gets profitable. most dont.

 

[Moneymakermitch]

whats your experience?
whats the competition like?
who creates the store?
who does the marketing?
who pays for marketing?
can your margins sustain paid advertising?
will you get fired if you lose his money?

25% of what?
he wont do revenue so must be profits. and to make profits in ecommerce these days you need to know your shit.

so, sure, propose it. just dont expect to make a ton of money with it. see it as a paid learning experience if he agrees.

if he does agree start stupid simple. shopify shop with paypal payments & buy traffic through a google shopping campaign. set up analytics ecommerce tracking down to product level. you dont need more to start.

if your inventory has a lot of brand names there are ways to bid higher for those branded keywords on google shopping and make it very profitable. you can outperform almost any competitor like this if your prices and products are at least half decent.

I see people fail with this daily. some take my advice fully and their shop gets profitable. most dont.

The competition is mild to medium. No other company handles buisness the same way we do as we expand what most companies do.

He is the store owner. I would be the online store admin.

I would do the marketing and pay for any marketing.

He would not be putting any money into it besides giving me 25% of the online stores profits.

I understand what your saying. I wasn't expecting it to be a quick payday but more so a second income while already at work.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[theag]

if you pay for the advertising, dont do it. rather invest the money into building your own product.