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- May 29, 2021
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Hey everyone! I have an idea for an Ecommerce store.
I love cereal. If a couple of aliens were to arrive on Earth to take 10% of the people who love cereal, I'd probably be sucked right up. From Lucky charms, to Frosties, to honey loops, to Reese Puffs I love them all. Except oatmeal XD.
I was discussing with my friend who has makes a couple hundred each month with such a business. He explained how one can launch an e-commerce store with a couple of dollars really (Minus the website hosting costs and shipping).
1. Be passionate about the product or know the product inside out.
2. Purchase a few of the product (Like 2 or 3 in stock).
3. Solve pain points in a proven market as you go.
4. Sell it online and run ads to it (This would help me learn about web design and digital marketing in the process) for like a month to see how it is.
5. Use creative advertising to go even further.
The plan is to sell solely already existing cereal and then with time and capital gained from the business, use that to create a whole new brand cereal the market would love and sell that worldwide or nationwide. Yum.
So what do you think?
Are the margins too low? Is it Fastlane? Would shipping costs eat through the profits? Is there even really a need?
Or maybe I should save to instead sell a higher priced product.
I might still test it just to see where it can go and if it doesn't work fine. But any advice would be appreciated.
Thanks!
I love cereal. If a couple of aliens were to arrive on Earth to take 10% of the people who love cereal, I'd probably be sucked right up. From Lucky charms, to Frosties, to honey loops, to Reese Puffs I love them all. Except oatmeal XD.
I was discussing with my friend who has makes a couple hundred each month with such a business. He explained how one can launch an e-commerce store with a couple of dollars really (Minus the website hosting costs and shipping).
1. Be passionate about the product or know the product inside out.
2. Purchase a few of the product (Like 2 or 3 in stock).
3. Solve pain points in a proven market as you go.
4. Sell it online and run ads to it (This would help me learn about web design and digital marketing in the process) for like a month to see how it is.
5. Use creative advertising to go even further.
The plan is to sell solely already existing cereal and then with time and capital gained from the business, use that to create a whole new brand cereal the market would love and sell that worldwide or nationwide. Yum.
So what do you think?
Are the margins too low? Is it Fastlane? Would shipping costs eat through the profits? Is there even really a need?
Or maybe I should save to instead sell a higher priced product.
I might still test it just to see where it can go and if it doesn't work fine. But any advice would be appreciated.
Thanks!
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