reddeagle said:
So after work the over the last x months I developed a good online ecommerce solution. I will be going back to this shop to show them this with an aim to sell them this for 3000 euro. (The agreed verbally but getting the money is another thing!)
So I got my thinking hat on again. A few years ago I helped this same company with hamper business and got a good insight into it. My brother now also works in retail area and has his experience aswell.
Just from an ethical point of view, will you take the 3,000 euro off them and then go into business directly against them? Or would you be targetting other markets? I guess it depends on your relationship with the business but I'd be careful about that one.
So what I was thinking was why can’t I try my hand at selling hampers on line. I have the greatest cost already covered the web site development. I purchased a very good domain name that I plan to sell the hampers from and it looks good too.
That's a great start, but don't forget about:
- marketing costs (you're an internet website, you don't get passing trade, this is critical and could easily cost more than 3,000 depending on your plans)
- hosting costs
- merchant account (accepting credit cards online)
- raw materials (the hampers)
- storage costs
1)My eCommerce Solution to maybe other businesses (it can be ported easily to other systems etc)
Definitely the less risky of the two options as you are now selling a
high margin product which has no input costs. Unlike the hampers were you have to buy the raw materials in, and have storage costs.
Can't remember what entrepreneur said this, but basically all things being equal a high margin product is better. And all things not being equal a high margin product is better.
Whats the next steps for me to get a business set up so that I can sell my ecommerce app and the hampers.
Start writing your business plan and good luck!
http://www.startingabusinessinireland.com/