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Starting a £1 Shop Online ??

Discussion in 'E-Commerce and Online Selling' started by adam2007, Nov 16, 2007.

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  1. adam2007

    adam2007

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    Is it worth it ??

    I know alot of people on ebay are making just pennys on ebay... but selling large qtys.

    So... here i am with some products which would quite easily retail for £1.

    But i dont really have the time to send out 100 parcels of £1 products everyday.

    I would be paying 50p or less for each product so if someone placed a order for 10pcs+ then that would be fine !!

    So the question is do you think it would be OK to set a MOQ of £10 ??

    Give me some ideas guys !!!!
  2. greedyboy

    greedyboy

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    By the time you add shipping etc what is the cost? Hardly worth it?
  3. Saajan

    Saajan

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    As Greedyboy as pointed out, it wouldn't be good to be left with a small profit after postage has been added. But what about opening a real pound store. Recently, I've seen a few pop up near my area and there doing quite good. I asked one of the owners how much he was making for each product (on average) and he said around 65p per product and on average 15 to 25 people visit his store everyday. Not sure if its true or not but there you go.
  4. studio1one

    studio1one

    Joined:
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    not much room to fill you rboots that though is it really. Say these 25 people buy 4 items each. 25 * .65 * 4 = £65 quid takings a day max. Whats the point?
  5. Saajan

    Saajan

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    Your spending less and earning more, that's the point :)
  6. rheabs

    rheabs

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    Oct 27, 2007
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    156
    You could'nt run a £1 shop with only 25 visits a day ! That just won't pay the rent/bills ect ..If he/she only just stated there business, then yep things can get better,and i sure hope his till cha-chings a lot more! that's if his 15/ 25 visits a day buys something..

    There is a shop same around my area aswell selling cheap goods and his shop is called four seasons selling xmas , halloween, summer stuff ect and at the start some 3/4 yrs ago i thought thats never going to work, but you know what? that shop is still there so it must be good....im pleaed for him as he stuck with it, come rain or shine !
  7. studio1one

    studio1one

    Joined:
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    earning more? from £65 a day? you having a laugh. £22.75 on your stock leaves 42.25 and that's before you've paid VAT on it. You've then got rent, heat light and all your other sundries. If you think you can make money on turnover like that you wanna be thinking about working for somebody else.
  8. mattm2K7

    mattm2K7

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    Yep not much profit there
  9. LewisSellers

    LewisSellers

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    If you managed to open a £1 shop online, providing you had some things that were worth buying, I'm sure you'd get a lot of customers, I'd have a scan through, but you'd have to see if it was worth it.

    probably what your better doing (as I see you are a registered seller), is try selling some of your £1.00 products on this forum, see how fast they sell and how easy it is, if you find it worth while then think about a website. After all, lots of people visit this forum, and so you can see if its worthwhile!
  10. rheabs

    rheabs

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    Yes Lewis i agree mate...But as long you got the correct Products to sell..
    As like Greedy boy "always" seem to be thinking outside the circle and now selling 3pin plugs for the consoles a Bargain if you ask me!,,,and there flying out to forum members at the mo..so good on him for geting his hands on sort after items..
  11. LewisSellers

    LewisSellers

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    Yeah, things like that, you want to find products that are related to other products (like the 3 pin plugs as rheabs said)... There the best things.. even if its a "Under £5 Shop", I'm sure it could be successful.
  12. greedyboy

    greedyboy

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    The best concept would be to sell every thing at 99p and a flat rate postage of say 5.95 for as many items as you wish.

    You would need a wide range of products and import directly from the source.

    Could be done providing you can do the volume. I can see onlinepoundshop.com in the making anyone interested?!
  13. Beneddie1112

    Beneddie1112

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    I can't. Its taken ;p.
  14. greedyboy

    greedyboy

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    It was an example and are you really that bored you had to see if the domain had been taken ;)
  15. LewisSellers

    LewisSellers

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    lol, why, did you just try and buy it ?
  16. mattm2K7

    mattm2K7

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    lol greedyboy
  17. Beneddie1112

    Beneddie1112

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    Yep, I really am that bored :).
  18. rheabs

    rheabs

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    Arrrr Don't worry good news is.... that you saved yourself a Fiver:)
    Bad news is... you lost out on your First Million Sales:mad:

  19. Saajan

    Saajan

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  20. rheabs

    rheabs

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    £1 shop




    I Agree..! But ive seen a good Dollar shop tho !arrr..Hold on what about, POUNDSTRECHER? are they still kicking about i wonder?:rolleyes:

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