Does any of you selling electronics online. Products like camera, computers etc etc. I have found an opportunity to start an online business selling them. I am not sure what are the things I have to be aware of. Any suggestions appreciated. How is the monthly income from this?
Sales can be a good thing to get into, but anyone that has the idea I always recommend that they read the free ebooks at worldwidebrands.com. It is primarily targetted to dropshipping, but anyone going into ecommerce can get some useful ideas. The thing about these ebooks are that they don't beat around the bush. They simply tell you what won't work and why in online business. They also give you the information you will need to know in becoming a legal entity to do online business if you are from the US.
I am from China,I also want to sell my goods,such as posters ,retractable banner ,X banner and other displays online ,of course I have good quality and low price,how did you find the opportunity to start your ebusiness?can you share with me? Thanks
Its trial and error buddy, ebooks wont tell you how to run a successful business or else everybody would be doing it. If its your first site selling, I would suggest something smaller to start first than electronics, I started out selling novelty lighters and it gave me a good grasp of how to run a business online.
Cherry, you should get yourself listed on alibaba.com or madeinchina.com - brilliant B2B websites that im sure will help you out.
Try to find one product that few others offer and market the hell out of it. It's a lot easier to get started with an online business when all of your inventory is the same thing. Once you get the ball rolling, add more items slowly so you can work out all the kinks in your inventory management system. Be aware of how taxes work for an online retailer. You might want to only sell to one or two countries at first or at least consult a legal specialist before going international.
My target audience is USA. I am gonna do dropship, since I don't have a store. From my experience working for a e-commerce site I learned few things I like to share. - Always look for cheapest purchase price. This will define how much profit you will make. - Return policy. If companies does not take back returned products you are fuck...d. - How much competition you have in the market, is there any slot to do well?
The market for branded electronics is saturated, if people want a Sony digital camera then they have access to thousands of other retailers where they can probably obtain a cheaper price which you couldn't dream of offering. Based on the fact that you are planning to dropship and therefor paying premium prices for this luxury. Why anyone would get involved in a market as competitive as this is beyond me. However, if you can find something a little different. Say an un-branded digital camera which looks equally as good as the Sony digital camera and has all the same features. With the right sourcing skills this won't be too much hard work. The up-side of this option being you can make a far better profit (less competitors) and sell for half the price of the branded option. After all, we all know you pay for the logo on the product, not the quality (clothing, cars, electronics, it all applies). If you can market the product correctly, you can make it look just as good (if not better) than the branded option. Then its up to the consumer to choose whether he/ she wants to spend an extra $150 for a well-known logo! Would you pay extra? Don't listen to the usual comments "Its impossible to make money on eBay, there are too many sellers", nine out of ten times these comments come from someone who has never sold on eBay properly, I can tell you there is a lot of money to be made and that is from experience. It isn't easy, but if you find the right niche, you can do well!