I would like to have my own PC hardware store but I have no capital, just a strong will. I need ideas on how to get the capital. I have no experience neither so the only idea that came to my mind is to find a reliable dropshipper with a good profit margin and sell items on Ebay until I get enough money to get my own inventory and open an online business and also sell items in my neighborhood. I need some good advice from the more experienced members on reliable dropshippers/distributors and also a good niche that would make me get the capital fast enough. Also in your experience: how much do you think I need to start a successful online store and the most effective way to advertise it? Thanks in advance.
A bank loan would be just a small part of the equation. I would like to droship first to learn from the experience and get the capital at the same time. I'm a newbie and completely clueless. I really want this to work. My future depends on that. Come on, it would be nice to hear from current online store owners the story about how do they started their business.
If you're going to start a business I'd recommend you start out small on eBay. Start buying things, fixing them up and getting some money, Next I would start buying from resellers getting some profit off of the sales you make, It wont be much but hey its a start right? Yes as mentioned above a Bank load would help, but I mean the way the economy is right now I'm not sure If you'd really want to do that. I'd start off on the internet first, then expand into a local office building or warehouse. Remember the key to getting traffic is location, Get a catchy slogan and name and get it somewhere were there is a lot of traffic. Because you and me both know that Traffic = money, both on the internet and in real life. Make sure you also have a business license, that way you don't run into trouble down the road somewhere, read up on some articles on preparing and setting up your personal finances on and about your business. Buy cheap and sell high Good luck!
AmpedHosts: this is more like the answer I was looking for. Start low, without risking too much to see if you have success and then expand. Now, which item do you think I should sell on Ebay? My capital is limited so maybe I should find a distributor that extends credit. Does somebody knows of any? I found TechData but they charge for filling the application. Does somebody heard from them? Do they have good prices? I don''t like the idea of not be able to see their prices before opening an account. That's why I'm asking if somebody have done business with them and can give me an idea of the prices I'm going to get from them.
Buy some hosting...buy a domain...set up a website....set up some e-commerce software on it...start selling wholsesale office supplys or whatever it is you wanna do...and jsut market it to local business by sending them a sales pitch email or callng them from your telephone directory... send an email to telling them that you need some hosting...quote LargeChimp in the email....and the sales team will give you a quality quote within 10 mins of recieving the email. Josh
LargeChimp: I appreciate your post but I'm not interested in office supplies unless there's something with good profit margins with low investment. Do you know where can I find such thing? If I decide to sell something besides computer hardware it must be something related to electronics like MP3 or MP4 players,because that's what I really like. Come on. There must be something related to electronics that I can sell without investing large amounts of money.
I have a few electronics dropshippers listed on site. Check them out: http://www.webpuffs.com/dropshippers-and-wholesalers/electronics-dropshipperswholesalers/
office supplys was an example haha... i was making more of a point about the website and marketing. theres a few UK based stores that offer discounted office goods, you could take thre order on your site and go get it, and ship it...this would take more effort..but it would establish an onlne presense for you. Josh
Step-by-step video tutorials that will will guide you from the go. Highly recommend it! www.ideasmakingmoney.com. Goodluck
Step-by-step video tutorials that will will guide you from the go. Highly recommend it! www.ideasmakingmoney.com. Goodluck
If you have a good project with you and capable of doing it, I am very sure the finance would not be problem for you (private, banks etc) Good luck!
No one is going to tell you how to become rich because if they new they would do it themselves.... My advice: Research the market, Find out what people want, Don't Sell something because "you can", just sell a few products so that you can buy in bulk and get good discounts, Play the exchange rates. If you live in US, you could buy products from newegg, and then sell them to people from other countries. Chris
impulseIP: I don't want to be rich and I'm aware that this isn't going to be easy. I just need an electronics dropshipper to make business with without the need of having a huge capital. Let's say that I have $1,000. What kind of electronics item do you think I can get for that money to sell on Ebay with satisfactory profit margins and what dropshipper do you think is the best to do business with? I want to start from the bottom and slowly get the capital and customers. Come on there must be a way.
In many cases, you don't need any start up money to open an account with dropshippers. I had no money at all when I started. Both my wife and I were making close to minimum wage. 3 - 4 years later I was pulling in over $32,000 a year using a dropshipper.
For product,i do suggest you sell the current most demanded product such as Iphone and Ipod. You can get these thing at cheaper price at alibaba when buy in bundle.
The dropshipper that I dealt with was in the pro audio niche. It's a niche that you either you have to know something about or you have to be really good at sounding like you know something. If you are a computer guy, I would suggest sticking to selling computer products. You could check out D and H. https://www.dandh.com/v4/view?pageReq=dhmainns Give them a call and see what their requirements are to sell their products. You may not need to purchase anything to get started. If you run into a supplier that asks you to buy a certain amount of their product to open up an account, you can ask them to supply you with some info on their products. I would ask them what price you as a dealer would be able to buy it or at least what kind of profit margin that you would get. I'd save the $1,000 for cost associated with building your future website.
I'm not trying to shoot down your idea, but to be honest, there is never a high profit margin on electronics. Unless you buy in bulk, then you might be able to swing it. Generally though, there are too many places which already sell electronics to really be able to compete. You are looking at a very crowded market, you will have to put a lot on the line to even have a chance for it to work out for you.