I've got an idea...
07-31-2010, 10:57 PM
#1
I've got an idea...
I am wanting to start a business. I will be 18 in a few months, and was trying to think of something I could start to get me through college. Someone mentioned an online store...
I was thinking Ebay...
I was thinking of making an Ebay store directed at electric off-roaders. I would sell the Zippy Lipos that everyone seems to love, chargers, RC cars, Brushless systems, almost anything electric off-road, and if there is something that isn't in my store, and you'd like it there, I am open to recomendations and new products.
Keep in mind, right now I am brainstorming.
How many of you think this would be a good idea? How many of you would purchase from me?
Anyone have any ideas or comments to throw at me?
I was thinking Ebay...
I was thinking of making an Ebay store directed at electric off-roaders. I would sell the Zippy Lipos that everyone seems to love, chargers, RC cars, Brushless systems, almost anything electric off-road, and if there is something that isn't in my store, and you'd like it there, I am open to recomendations and new products.
Keep in mind, right now I am brainstorming.
How many of you think this would be a good idea? How many of you would purchase from me?
Anyone have any ideas or comments to throw at me?
07-31-2010, 11:18 PM
#3
Dang, really?
I wonder if there is another way I could do this...
I wonder if there is another way I could do this...
08-01-2010, 06:29 AM
#4
Just waht was said beforehand, if you wann amake a decent profit at e-bay you have to do big quantities, lots of sales, for a successful ebay buisness at 18 you'd have to start when your 12 or 13... not to mention you'd have to start with alot of very low ticket items you'd almost take a loss on, or do take losses on just to get your e-bay reputation up so that people would feel comfortable dealing with you on larger ticket items....
08-01-2010, 07:26 AM
#5
Anyone have any ideas or comments to throw at me?
Not the crummy dark blurred pictures so many people have today on ebay.
08-01-2010, 08:20 AM
#6
Even if you could get a good start your not gonna make enough to come close to help with college . You have to put 90% of your profit back into restocking your items . Also , where are you going to get the r/c items ? To be a dealer for Horizon or Great Planes you have to have a store front in a commercial zone area and with Horizon you now need a $30,000 minimum first order to become a dealer . Of course older shops and dealers are grandfathered in and newer rules don`t apply .
08-01-2010, 10:05 AM
#7
The Small Business Administration - "SBA" - offers tips on small businesses. Usually, #1 is "write a business plan" and then analyze it to see if it will work. You should start with goals.
1) what is your required net earnings (after taxes, costs, losses, etc.)
2) can you handle losses due to returns/exchanges/hassles?
3) do you want to have to stock $thousands and have it on-hand to sell?
If you want to make $1K a year profit after taxes and expenses, determine how many batteries you have to sell and what the per-unit profit you want to make is. THen, you have to find a market for it - probably put up your own inexpensive web page (something simple like they have at promatchracing.com) Ebay is probably a bad choice since they take heavy fees.
Purchasing - you wouldn't buy from Hobby City - you would buy from the manufacturer to get the prices Hobby City gets. You'd probably have to buy in unit lots of 500-1000 parts to get the best price. Your competitor still is Hobby City - people don't mind waiting 2-4 weeks at times and not have to pay USA markup prices. Local store here in PA selling Zippy/Turnigy batteries has a pretty hefty markup from the prices on HobbyCity.
If you take Paypal as a payment method, you give them a certain percentage too. If you don't take paypal, setup a bank account and become a merchant so you can take credit cards. Next, you should be aware of the fee a bank takes for accepting credit cards (a little less than Paypal takes).
What I would do? Put on a smile and get a job as friendly waiter at a good restaurant. You will undoubtably make more steady cash, have no inventory and risks and be able to learn how to work in today's businesses. In my teens, I sold small amounts of BMX parts to fellow racers - but my real "job" during college was working as a mechanic in a couple bike shops (where my passions were, but didn't have any expenses of my own). Plus, they offered me wholesale prices on bikes and parts which saved on racing costs. In a pinch when I needed more money, I took a part-time job at local Burger King for about 8-10 months but still also worked at the bike shop.
Many small businesses start the first few years making a loss - and not a profit. You really don't want to go into a "loss-leader" business at 18 with college expenses.
Lot of things to think about.
1) what is your required net earnings (after taxes, costs, losses, etc.)
2) can you handle losses due to returns/exchanges/hassles?
3) do you want to have to stock $thousands and have it on-hand to sell?
If you want to make $1K a year profit after taxes and expenses, determine how many batteries you have to sell and what the per-unit profit you want to make is. THen, you have to find a market for it - probably put up your own inexpensive web page (something simple like they have at promatchracing.com) Ebay is probably a bad choice since they take heavy fees.
Purchasing - you wouldn't buy from Hobby City - you would buy from the manufacturer to get the prices Hobby City gets. You'd probably have to buy in unit lots of 500-1000 parts to get the best price. Your competitor still is Hobby City - people don't mind waiting 2-4 weeks at times and not have to pay USA markup prices. Local store here in PA selling Zippy/Turnigy batteries has a pretty hefty markup from the prices on HobbyCity.
If you take Paypal as a payment method, you give them a certain percentage too. If you don't take paypal, setup a bank account and become a merchant so you can take credit cards. Next, you should be aware of the fee a bank takes for accepting credit cards (a little less than Paypal takes).
What I would do? Put on a smile and get a job as friendly waiter at a good restaurant. You will undoubtably make more steady cash, have no inventory and risks and be able to learn how to work in today's businesses. In my teens, I sold small amounts of BMX parts to fellow racers - but my real "job" during college was working as a mechanic in a couple bike shops (where my passions were, but didn't have any expenses of my own). Plus, they offered me wholesale prices on bikes and parts which saved on racing costs. In a pinch when I needed more money, I took a part-time job at local Burger King for about 8-10 months but still also worked at the bike shop.
Many small businesses start the first few years making a loss - and not a profit. You really don't want to go into a "loss-leader" business at 18 with college expenses.
Lot of things to think about.
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