Business idea but lack knowledge... help!

mcl116 · 08-23-2009, 05:25 PM

Hey every1... great site! Really informative stuff! Here's the deal: I just came up with a business idea... the jist is, I'd like to supply multiple different items to a target group. It's basically amazon but on a much smaller scale and focused much more on a certain group. What I'm not sure is, how I can get all these different products and how I can get them cheap enough to make a profit when I re-sell them. I'm sure I'll need to find a wholesaler and drop shipping company correct? Can you experts please send me in the right direction!? I'm very excited about this since it's my first legitimate and feasible business idea, now I just need a little direction to begin.

Thanks!

Rodest · 08-23-2009, 05:52 PM

I'm no expert, just read a lot, done a lot of research so know some stuff.

Yes you are correct. You may need to purchase at wholesale or drop shipping. Drop shipping would be a lot easier as it delivers the product to them - all you do is get the customers.

Be very aware some drop shipping is fake, I tried looking around a bit myself and found fake iPhones etc., if they are selling for extremely cheap (such as $50 for an iPhone) then it's fake.

Wholesaling is helpful, but remember you may need to buy bulk to make a profit, so you made need a bit of money to start of with.

Hope this helps.

mcl116 · 08-23-2009, 06:54 PM

Quote:

Originally Posted by Rodest

I'm no expert, just read a lot, done a lot of research so know some stuff.

Yes you are correct. You may need to purchase at wholesale or drop shipping. Drop shipping would be a lot easier as it delivers the product to them - all you do is get the customers.

Be very aware some drop shipping is fake, I tried looking around a bit myself and found fake iPhones etc., if they are selling for extremely cheap (such as $50 for an iPhone) then it's fake.

Wholesaling is helpful, but remember you may need to buy bulk to make a profit, so you made need a bit of money to start of with.

Hope this helps.

would you be able to show me legitimate drop shipping companies? If you don't want to put your knowledge on the web and would rather PM me, that's fine too.

Rodest · 08-23-2009, 07:03 PM

Quote:

Originally Posted by mcl116

would you be able to show me legitimate drop shipping companies? If you don't want to put your knowledge on the web and would rather PM me, that's fine too.

I'm sorry but I didn't drop ship, because I had to pay a membership fee. I don't have a job and I'm 16 so I prettty much have no money.

Sorry, but simply look at the products on show and see if they are legit, read EVERYTHING, including feedback.

dalex · 08-23-2009, 07:51 PM

If a company wants you to pay a fee to use them for dropshipping, dont do it, the odds of them being actual suppliers is rare. Doba is not even a real dropshipper they are simply middle men with good enough negotiations every one is happy.

Checkout world wide brands.com they charge a fee however they are a service, not a dropshipper, they provide a directory of dropshippers, bulk wholesalers, light bulk wholesalers etc in which have been verified legitimate companies.

World Wide Brands is also supported by ebay as the best place to find companies.

You may want to try the falling: Look at what you want to sell and contact the manufacturer, ussually the manufacturer wont dropship however they will give you a list of distributors. Some of their distributors would probably be willing to drop ship directly to your customers.

In order to get access to real wholesale prices you have to be an established business paying taxes, have an EIN or SSN and tax / resale certificate.

If you ever need assistance building your brand feel free to contact us, our primary focus is ecommerce however we offer a wide array of services.

Thanks for your time and we wish you luck on your start up.

Online Money Hut · 09-15-2009, 12:04 AM

Amazon is big business and trying to compete with them as a start up will be very difficult and very expensive. You could use dropshipping but many of these companies require a membership fee that covers the cost of providing you the service.

You may want to take a look at affiliate marketing. With affiliate marketing you can promote products from almost every type of company. The only cost to you would be some education material on how to be successful with affiliate marketing, website host, and a domain name. This is the method that works for people with very little start-up funding. The benefit of this is that it will bring in income that you can use to help support your original idea.

If you happened to be one of the few that can afford to create an amazon size site then all you'll need to do is hire people to find those answers for you.

Over all the best option is to first find some quality suppliers that have products that people want to buy. Don't go for just cheap stuff, because price doesn't matter if people don't want to buy the product anyway. If the product is an high end product just go with affiliate marketing and earn a commission with that. As your reputation increases then start to gradually increase the size and focus of your business.

Frederick
OnlineMoneyHut.com

sellwholesale · 09-18-2009, 07:45 AM

Worldwide brands is for sure a way to go. They are legit and you deal directly with wholesalers, manufacturers and the drop shippers. They only provide you with system and analysis.

Kovati · 10-12-2009, 07:38 PM

Hi mcl116

Just joined the site and everyone seems to be from the USA, guess I must be the only UK guy here

Anyway, about your idea...

It's certainly do-able however it won't be the next multi-million pound (or dollar) company. If it's a lifestyle business you're looking for, then it's worth venturing into.

To start off with, you should probably use a dropshipping service. Most major/reputable dropshippers won't charge you for a membership as they tend to be completely transparent in their offerings. It's usually the fake ones that charge to make a quick buck!

Once you've found your feet (business wise), you should look to try to stock your products instead of dropshipping- it's much cheaper.

Anyway I hope this helps and good luck!

fitzwar · 10-13-2009, 04:12 AM

I agree that most drop shipping firms sell fake stock, i've been caught out a few times. It sounds like the best option for you to get started is to start an affiliate website, you can join up to Amazons affiliate program Amazon associates and they will allow you to put all their products on your website and earn a commission from selling their products. They take care of shipping and sales so all you have to do is market your website

I actually sell amazon websites, if you interested in setting up a network of Amazon affiliate websites take a look at the following:

Websites For Sale,Business Opportunity,Turnkey Package,Free Website Builder