Is it difficult to find a good wig? Are they limited in selection? Are they marketed poorly? Is the customer service terrible when trying to buy one? Do they fall apart after a week of usage? Can they be made cheaper for the same quality or better? Is there an underserved demand for wigs?
If so, then you have an opportunity. The fact that people buy wigs doesn't mean it's a good opportunity for you. There may be nothing wrong with the current wig market and everyone is happy and there's plenty of options for a fair price. If that's the case then you are adding nothing new to the marketplace and there is zero added value and thus zero expectation of relative success. You would just be a commodity, introducing competition and undercutting margins in a race to the bottom.
With that said, it's a better idea to do it than to not do it. A person who started and failed a wig business is miles ahead of someone who didn't start or fail a business at all. And maybe you start and don't see an opportunity until a year later. Perhaps you see that the manufacturing of the wigs is a broken system and you see a way to fix it and become a b2b business instead. Many success stories are like that.
Whatever it is, you should probably start because experience and chance have a funny way of giving you an advantage long term.
If so, then you have an opportunity. The fact that people buy wigs doesn't mean it's a good opportunity for you. There may be nothing wrong with the current wig market and everyone is happy and there's plenty of options for a fair price. If that's the case then you are adding nothing new to the marketplace and there is zero added value and thus zero expectation of relative success. You would just be a commodity, introducing competition and undercutting margins in a race to the bottom.
With that said, it's a better idea to do it than to not do it. A person who started and failed a wig business is miles ahead of someone who didn't start or fail a business at all. And maybe you start and don't see an opportunity until a year later. Perhaps you see that the manufacturing of the wigs is a broken system and you see a way to fix it and become a b2b business instead. Many success stories are like that.
Whatever it is, you should probably start because experience and chance have a funny way of giving you an advantage long term.
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