The Wholesale Forums

[d3productions]

Hello,

I made a post a few months back about opening a local game shop, After reading through alot of posts made, I decided this would not be the best route to start a sustainable business.

I have a trust fund of £55k and would realy like to invest a sum of it, but i have no experiance with the online market.

I would realy appreciate some idea's suggestions or any other general tips as of what i should do.

Thank you d3

[Andy777]

hey,

I remember your post

You can build a successful niche business online FAST with 10k or so. Here's what you can do:

* Find a niche (use regular market research tools - Google Keyword Tool & TeraPeak to find a relatively active market with moderate competition. It can be anything really - iPhone leather cases, football shirts, golf balls, SPA treatments, Skype phones, PC keybords, labels, hard to find movies, LED bulbs etc. Just find what SELLS and BEAT the competition!

* When you have a niche to work with, find a reliable supplier. For most every day items, China will be the best place to look for. If you're scared by that, in the beginning you can buy stuff from your local wholesaler. You won't make much money but you'll be able to test the whole thing.

* When you have products in hand - start selling them on eBay. Create professional eBay Shop (design will cost 200 quid), take your own pictures - really work hard to make it stand out from the crowd. It will be a slow start but once you build your feedback and reputation, things will take off! If the products don't sell - you did something wrong - the product itself, price or marketing.

* If everything goes ok on eBay, start working on your e-commerce store. Hire the coder & designer and create professional Shop! It will cost you about 500 to 1000 pounds. Once your store is up and running, let your eBay customers know about it!!!

* After all this - just work on marketing & traffic. Promote your affiliate program, use PPC, place paid banners in related sites, forums & other sites, work on newsletter, SEO, link building etc.

It's really that simple. But the question remains - will you take the plunge?

Hope this helps,
Andy

[hardwareheroes]

Originally Posted by d3productions

I would realy appreciate some idea's suggestions or any other general tips as of what i should do.

Thank you d3

Without knowing you personally, it is difficult to say. You should, in my opinion, find something you have an interest in or are knowledgeable about.

Sometimes, you can fall into a trade but, when times are tough, you need to have an interest in what you are doing to motivate you through it.

[Businessinchina]

Originally Posted by d3productions

Hello,

I made a post a few months back about opening a local game shop, After reading through alot of posts made, I decided this would not be the best route to start a sustainable business.

I have a trust fund of £55k and would realy like to invest a sum of it, but i have no experiance with the online market.

I would realy appreciate some idea's suggestions or any other general tips as of what i should do.

Thank you d3

I agree with Andy here, you have too many business to do if you have 55 K GBP in China. I suggest you can import directly from China and then resell them at your end.

[d3productions]

Thank you very much Andy,
The information you posted is very usfull to me, I am constantly researching the market and viewing these forums for any extra help i can get.

Keep any tips/opinions/idea's comming any knowlage is very usfull.

Thanks again d3

[Pete]

Understand business. If you have not worked in a buying and selling environment, consider a job where you do. Understand "commerce" and how it all works together and then decide where you want to be in the chain.

Personally, right this minute, if I were in the UK and had some money to invest I would find a range of fairly low priced goods that I could make a good profit on while dropshipping. There are thousands of people looking for a "real dropshipper".

You are new in business. There is a terrific demand. You are not "set in your ways" like so many of the "Houses" are. You are computer literate. You can start with a system that handles the needs of dropshipping, mainly the "blind ship" labels and packing lists that shoe just the consumer, not the seller.

Opportunity is knocking.....

But first understand the entir process. Make sure you want to get your hands dirty. That you'll stock shelves, box and post orders, etc. Is this you? Can you see doing this for a few years, until you can afford staff? 16 hour days? Days when you have zero sales, or lose money? Is this you?
.

[d3productions]

Thanks Pete, Although i've looked into using dropshippers, I have never thought of setting up my own dropshipping business.

I am quite interested in doing this, As i have found, Good dropshippers are hard to come by.

I'm going to get some stuff down on paper. Thanks again!

[greedyboy]

Start small and think big if you want to still have most of that 55K rill in the bank!

You can make £5000 from only £500 and you can lose £5000 from £55K. Having money doesn't guarantee you any more success than starting with £500.

Set aside a budget and stick to it. You'd be mad to spend any more than 10% of it and maybe keep another 10% for cash flow.

[MacLover]

Originally Posted by d3productions

Hello,

I made a post a few months back about opening a local game shop, After reading through alot of posts made, I decided this would not be the best route to start a sustainable business.

I have a trust fund of £55k and would realy like to invest a sum of it, but i have no experiance with the online market.

I would realy appreciate some idea's suggestions or any other general tips as of what i should do.

Thank you d3

Import a unique product (Not sold in UK by an official distributor) from abroad that you know will do well (Based on your research), That's what I'm doing.

[d3productions]

Thank you for all your support, I've been looking for local wholesalers in my area, but as i live in cornwall, there are very few if any wholesalers localy.

So it looks like importing will be the best option, again im very new to all this so if i could get a few questions answered that would be great.

What would be the best way of sourcing items? Can you recomend any legit directorys that could work for me?
Will i need to be a registered business with vat no ect?
and if i would be importing from china, would i get stun for import dutys ect?

Thanks again guys d3