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So after reading a few threads on the forum, I have decided to make a startup.
You might have read my thread about my music productions, I have a progress thread for that as well, and I have slowed that down a little, but still very serious about pursuing that.
- In the past week, I have researched products on Etsy, eBay, Amazon, and google trends, and I have found a good niche with a specific product. (It is not necessarily a necessity, but most households have these, and they are a relatively new invention and just getting popular in the market, but definitely a product I see people turning to soon if not now.)
- It is scalable, but also easy to start off slow.
- The profit margins are pretty good, a little over 50%.
- I have contacted a few manufacturers, I am narrowing down the ones to get samples from, and also trying to find some with a little smaller MOQ's.
- I have picked a business name, and a website. I am going to register it soon and purchase the domain.
I plan on selling on eBay and Amazon first, as well as my website and in person a little if it is worth it. I plan on scaling up and expanding my product line, where I can then sell the product in "sets". I will contact companies, and market to try and supply companies/small businesses with this product as well.
The questions I have are:
1) Should I get samples, test them, and sort of test the market with them before registering my business name and website?
2) Can anyone refer me to an article for setting up an eCommerce website or give advice on what is best? I was thinking of using Webs.com or Wix.com
3) I have been thinking about branding, but should I? It would be nice if people could spread my product by word of mouth and what not, and they would need a brand for that.
4) I was thinking about just getting into the field and being active about this and talking to potential businesses, do I need to wait until after I have a product in hand, or have more together in terms of the business?
5) With ordering from the manufacturer, will these freight shipments come to my house, since I am working from the home ATM? I do not know exactly how this works, asking questions is the only way I'll learn.
6) Do I need a separate company for packaging? If so, how can I set this up, with the product coming to me from the manufacturer?
7) Lastly, when I go out and if I land deals with small businesses, how do I transport large quantities to them? I have a truck, and these are fairly small units I believe, but what if they need over 1000?
Thank you! I am very excited to see what happens in the coming weeks
I am going to keep updates every time I make progress, or at the very least once every week/2 weeks.
-Tyrel (Genium)
You might have read my thread about my music productions, I have a progress thread for that as well, and I have slowed that down a little, but still very serious about pursuing that.
- In the past week, I have researched products on Etsy, eBay, Amazon, and google trends, and I have found a good niche with a specific product. (It is not necessarily a necessity, but most households have these, and they are a relatively new invention and just getting popular in the market, but definitely a product I see people turning to soon if not now.)
- It is scalable, but also easy to start off slow.
- The profit margins are pretty good, a little over 50%.
- I have contacted a few manufacturers, I am narrowing down the ones to get samples from, and also trying to find some with a little smaller MOQ's.
- I have picked a business name, and a website. I am going to register it soon and purchase the domain.
I plan on selling on eBay and Amazon first, as well as my website and in person a little if it is worth it. I plan on scaling up and expanding my product line, where I can then sell the product in "sets". I will contact companies, and market to try and supply companies/small businesses with this product as well.
The questions I have are:
1) Should I get samples, test them, and sort of test the market with them before registering my business name and website?
2) Can anyone refer me to an article for setting up an eCommerce website or give advice on what is best? I was thinking of using Webs.com or Wix.com
3) I have been thinking about branding, but should I? It would be nice if people could spread my product by word of mouth and what not, and they would need a brand for that.
4) I was thinking about just getting into the field and being active about this and talking to potential businesses, do I need to wait until after I have a product in hand, or have more together in terms of the business?
5) With ordering from the manufacturer, will these freight shipments come to my house, since I am working from the home ATM? I do not know exactly how this works, asking questions is the only way I'll learn.
6) Do I need a separate company for packaging? If so, how can I set this up, with the product coming to me from the manufacturer?
7) Lastly, when I go out and if I land deals with small businesses, how do I transport large quantities to them? I have a truck, and these are fairly small units I believe, but what if they need over 1000?
Thank you! I am very excited to see what happens in the coming weeks
I am going to keep updates every time I make progress, or at the very least once every week/2 weeks.-Tyrel (Genium)
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