New Business Start-up, Some Questions

[JaredWoodruff]

Hello,

I've been looking into the internet business scene for a while now and I've been determined more and more to start an online store in a relatively low competition niche. I've been researching and coming up with ways to buy, sell, and distribute the product. I'm quite ready to do the deed, how ever my budget is quite small.

I've been inspired by a young man named Sean Belnick who started his business as a young teenager with $500 to get himself on the ground. I'm in a very similar situation, under 18 and have only a handful of cash.

I've eliminated the middle man, however the system will require several thousand dollars to actually get started. I've contacted several manufacturers in China. Many sell in bulk, some will dropship, but the shipping rates are absurd.

I've been left with the option of finding dropshippers in the US to distro my product until I get the several thousand dollars to be able to buy bulk and have a company do external logistics and handling.

So:
(1) How do you feel about using dropshippers in the US?
(2) Would eventually buying product in bulk be a wise choice? Especially since it will come cheaper.
(3) How do you feel about importing product from China?
(4)What would you do to get your online store started if you only had $500? In the context of buying, selling, and distributing.

Best regards,
Jared

[swede]

Hi

What is the product(s) you are going to sell? Do you have a web-site built to launch your on-line sales business? Tell me more about yourself Jared?

Thanks


Cary




QUOTE=JaredWoodruff;265214]Hello,

I've been looking into the internet business scene for a while now and I've been determined more and more to start an online store in a relatively low competition niche. I've been researching and coming up with ways to buy, sell, and distribute the product. I'm quite ready to do the deed, how ever my budget is quite small.

I've been inspired by a young man named Sean Belnick who started his business as a young teenager with $500 to get himself on the ground. I'm in a very similar situation, under 18 and have only a handful of cash.

I've eliminated the middle man, however the system will require several thousand dollars to actually get started. I've contacted several manufacturers in China. Many sell in bulk, some will dropship, but the shipping rates are absurd.

I've been left with the option of finding dropshippers in the US to distro my product until I get the several thousand dollars to be able to buy bulk and have a company do external logistics and handling.

So:
(1) How do you feel about using dropshippers in the US?
(2) Would eventually buying product in bulk be a wise choice? Especially since it will come cheaper.
(3) How do you feel about importing product from China?
(4)What would you do to get your online store started if you only had $500? In the context of buying, selling, and distributing.

Best regards,
Jared[/QUOTE]

[JaredWoodruff]

No, I do not have a website just yet. My products are automobile cosmetic modifications.

[swede]

No, I do not have a website just yet. My products are automobile cosmetic modifications.

Your budget of $500 will not go far if you are paying someone to build your web-site. Why have you chosen this product type - is it in demand, who are your competitors?

PM me some more information. I finance start ups - mainly in the Uk, but the USA is not off my radar completely!

Thanks

[mykoko]

I can help you with the buying part. I'm from singapore, speaks chinese and english. drop me an email...you can find my contact on my website. Look for it in my profile

[JaredWoodruff]

Your budget of $500 will not go far if you are paying someone to build your web-site. Why have you chosen this product type - is it in demand, who are your competitors?

PM me some more information. I finance start ups - mainly in the Uk, but the USA is not off my radar completely!

Thanks

I'm paying no one to make a website. I may be a little rusty but I have the technical skill to launch my own.

I'm not going to give away my specific niche, but I cannot find a search term for it on Google that has over 2 million competing pages, which is really not a lot of competition since most of those are not stores. There is also a decent number of searches per month for the term and like terms.

There are some other online stores for the niche, but their sites are so horrible I'd rather spend a weekend in Hell than a minute on the site. There is an exception or two, but they still are not THAT great. I've seen great online stores, but not in my competition.

So although I may not be offering anything radically different, my selling point is having a much nicer website. I've always been inclined to buy from the best, most professional looking website and I'm sure the same applies to everyone else.

Getting started, my profit margins probably won't be so hot since I will be dropshipping (I cannot afford to have any stock). However, my plan is to reinvest my earnings to expand and eventually import and have my own trademark put onto products (thank God for Chinese manufacturers). I simply cannot start a business with an import model using only $500, I must gradually work into that model and I don't mind busting my ass to do it if it will result in me bringing in a 5 or 6 digit gross income per month.

[inle]

What support you need?
I know some wholesellers, suppliers on my side..

Maybe we can work something together?

[Jean-VA]

(1) How do you feel about using dropshippers in the US?
(2) Would eventually buying product in bulk be a wise choice? Especially since it will come cheaper.
(3) How do you feel about importing product from China?
(4)What would you do to get your online store started if you only had $500? In the context of buying, selling, and distributing.

Hello, Jared.

To answer your questions:

(1) I honestly never used any drop shipping services, since type of business I'm in doesn't require inventory. However, like anything else that I need but unsure of, here's this 1 important thing: Research, research, and research.

Look for and read reviews online. Contact more than one companies, see who communicates best, have quickest respond time, and most attentive to your inquiries. Ask a lot of questions, test their Customer Support (not just Sales). Check their status with BBB.

Do as much as you can to find out about them before making a decision who to go with.

(2) Buying products in bulk would be a wise choice, AFTER you've done an educated research that you have reasonable amount of potential target markets.

(3) Feel? Honestly, in my opinion, we all have got to do what we've got to do. This is business. Also it's cheaper, it's not illegal, and (in your case) you're starting up with limited fund. When you're big and have more options then you may choose how would you rather handle your business.

(4) Actually it sounded like your main concept which is online instead of local should require smaller capital. You've actually got it right, make money & reinvest it by doing drop ship until you have enough money to fund buying and selling bulk.

You might also want to look into allocating a small percentage of your fund and a big chunk of your time building and perfecting your web site. As you've mentioned, if you do it right, your niche certainly have potential to be the leader on its field, on the web.

Another key to build success online is networking. Write articles about your niche, and make a professional, content-rich website. That would help forming your potential customers base when you're ready to import.

Sounds like you've got it right so far. Good luck.

-Jean

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