Home – New Forums Starting your journey I’m new to business and need some serous help

  • This topic is empty.
Viewing 10 posts - 1 through 10 (of 10 total)
  • Author
    Posts
  • #990671
    Ricky King
    Member
    • Total posts: 2
    Up
    0
    ::

    Hello, my name is Ricky King and I’m fairly new to business…
    since I can remember iv always wanted to own my own business…
    and I’m determined to fight for this goal.

    I know what i want to do…
    But I’m stuck.
    Iv registered my business name and ABN
    iv thought about my business and my market…
    and iv taken a domain name…
    my business is an E-commerce company that will deal with adults and kids nerdy toys and collectables … such as star-wars key-chains and posters and other knick-knacks.
    But i don’t know where to start….
    i cannot find any wholesalers at all that will allow me in… without my business being already started.
    i cannot get a website up because i cant do it myself… and i cant really afford to pay someone too much to make one for me.
    but i do need a website ( its a must )
    i also need item prices before i can set my items and prices on my website.
    but i cant get those items without the wholesalers.. and i cant get the wholesalers without my business being already up and running.

    i feel like iv hit a brick wall and i cant move forward…
    but i have a passion for this.
    i feel it burning away at me… and i hate that I’m stuck!

    Please help!
    thank you!

    #1178114
    ThexArm
    Member
    • Total posts: 253
    Up
    0
    ::

    Welcome to the forum.

    As you must be aware, you need to have at least some money to start a business. We don’t know much about your background to suggest anything.

    To get your website up and running you will need to have a hosting account. Search on the web there are some cheap plans available as low as $5 per month to start with. There are some Australian web hosts who are pretty cheap too. If you are not ready to pay someone to build your website then you will need to learn how to build one. There are open source shopping carts etc available if you do the research but it won’t be as good as a website that is developed by a professional.

    Since you have identified your product then try looking on alibaba for manufacturers. But there are minimum that you will need to purchase. Talk to them and get their selling price add shipping costs, any duties and taxes, storage etc to arrive your total cost. Add your margin to arrive at your selling price. Compare your price with your competitors or on amazon or ebay to ensure you are competitive in the market.

    I hope that gives you some basics.

    #1178115
    objectman
    Member
    • Total posts: 28
    Up
    0
    ::

    If you’ve never had a website before, you could try and build one yourself. There are free website creation services such as ;

    If I were to live my life over I’d start with a Goolge Plus website first due to the SEO advantages – your site is ready-tuned for Google search results. But it’s too early for you to worry about getting found.

    I’m a website developer and the best clients I have by far are the ones who have run a website themselves, experimenting, working with their logos and business ideas themselves and then seeing how the whole thing looks up online.

    The idea is that your website will change as your business idea changes, so it kind of doesn’t matter what you put up at first. You can consider your first website experience as a kind of scrap-book of ideas and add and remove pages as your idea develops.

    Your market / customers will eventually change the product or service to suit what they want anyway and will interact with you as you make yourself more visible online. Good luck with the brainstorming – it sounds like you still have some to do.

    Why not just quietly put one up there and come back here for feedback?

    #1178116
    Past-Member
    Member
    • Total posts: 1,815
    Up
    0
    ::

    Hi – it’s great that you want to have a business but your direction might need modifying a little.

    For many brand name products you need to pay a licence – that applies to Star Wars, Disney and the like. If you try to sell without approval you are subject to fines.

    You cannot do this without some financial backing.

    Reputable wholesalers will require funds up front.

    I would have a chat with the Gift and Homewares assoc. http://agha.com.au
    There is a Gift Fair you can register (as you have an abn) to go to this month Feb 20-24 in Sydney. It would help you immensely to go and get advice as well as contact suppliers.

    All the best.

    #1178117
    Ricky King
    Member
    • Total posts: 2
    Up
    0
    ::

    Thank you so much for all your feed back !
    I’ll take it all under advisement!
    it means a lot to me.

    ThexArm
    Thank you!
    I’m fully aware of hosting options… i have actually signed up for Ipage…
    but sadly my web designer fell through :(.
    and i have tried using Alibaba sadly i couldn’t find anyone i trusted :(

    objectman
    Thank you!
    i will actually look into this Google Plus!
    and thank you for your feed back !
    i currently am using Ipage… so I’ll see if i can set up a page and I’ll come back for feedback !
    thank you!

    KarenC
    Also thank you!
    How could I go about finding how to get these licenses?
    and cant I buy it through a suppliers under there licenses?
    as for the Sydney gift fair i had heard about it and really wanted to go… but sadly my fiancée is locked into work.

    Thank you all again !
    it really does help me, iv been struggling for a fair while to wrap my head around business… I feel like I’m in the dark just guessing where the door is.

    #1178120
    Past-Member
    Member
    • Total posts: 1,815
    Up
    0
    ::

    Ricky,

    re KarenC
    Also thank you!
    How could I go about finding how to get these licenses?
    and cant I buy it through a suppliers under there licenses?
    as for the Sydney gift fair i had heard about it and really wanted to go… but sadly my fiancée is locked into work.

    I strongly suggest you go to a Gift Fair on your own at least and take home all the information to discuss with your fiancee. There is so much information and experience to be gained. It’s on for a few days: Fri/Sat/Sun/Mon/Tues. http://homeandgiving.com Free registration.

    There is also the Reed Gift Fair in Sydney at the end of February.
    http://www.reedgiftfairs.com.au/en/sydney-february/

    I don’t have the information you need, and you are better off going where the suppliers are (at a gift fair). Then you can ask each one you think fits your needs what is required to order and how and all that.

    All the best.

    #1178121
    pollypolkadot
    Member
    • Total posts: 55
    Up
    0
    ::

    Hi Ricky :)

    Re: Websites, as other people have suggested, get yourself some sort of hosted/template solution, there are HEAPS of cheap (and some free) options and there are many threads comparing them on FS and generally around the internet as well.

    Re: Getting products. As someone else said above, get yourself to the gift fairs! There are three on in Sydney from 19th – 24th of Feb. Home&Giving, LifeInStyle and Reed.
    And, off the top of my head, one wholesaler to look up now that has some things you might be interested in is Outliving. They will let you sign up without already having a site.

    Re: The business in general- there is already another Australian business with the same/similar premise so you might want to check it out if you don’t already know it, to make sure that you aren’t going to be the same (unless you can do it better I suppose lol!). It is called Neat Geek. Also, are you planning to only sell to Australia, or do you want to go worldwide? Because you will have some stiff competition with Think Geek if you are going worldwide. Personally I would be focussing on AU only and getting Australians to stop buying from Think Geek (if the postage doesn’t already-ugh!) and come to you, which I think is essentially what Neat Geek is trying to do. Without knowing your full intended product range and angle that is my two cents. :)

    Interested to hear more from you, I’m always looking for places to buy presents for my husband.

    Good luck!
    Polly

    #1178122
    Green Edge Contracting
    Member
    • Total posts: 10
    Up
    0
    ::

    It’s great to have a passion, but a hard lesson I learnt was to have plenty of capital behind you!

    With your business maybe you could start on EBay?

    Just a thought?

    All the best

    Christian Peterson

    #1178123
    Dave Gillen – Former FS Concierge
    Keymaster
    • Total posts: 2,566
    Up
    0
    ::

    Ok here’s what I’d do…

    1. Find a local shop that sells the items you want to sell.
    2. Buy 1 of each item.
    3. Take a photo of each one.
    4. Sign up to Shopify to set up a very simple online store for $29/mth. Upload the photos you took. Now you have a product, and a way for people to buy it.
    5. Promotion. Now you need a way to let people know about your store or products. A free example is to set up a facebook page and get talking in related groups on FB.
    6. If you can’t make any sales, then don’t go to the bigger expense and time of licencing, buying in bulk, building a big website, etc. Disaster averted.
    7. If you do make sales, great! Replace stock from the local store (or ebay if required). This allows you to re-stock one at a time if cashflow is tight.
    8. If sales continue, then you’ve proven the demand. Now you can work on adding more products, getting more stock at cheaper prices, licencing, a proper website, and taking this from a hobby to a business.

    “How can I make a profit buying my stock from a retail store”.
    The answer is you don’t. You’re looking to prove the concept of your business here, and even make a small loss initially if you have to. Later you can buy in bulk with the knowledge that you can sell them, rather than the risk you’re facing right now of buying $1000 of stock and selling none.

    Good luck!

    Dave
    P.S. To spend even LESS money – Check what items the local shop has, then list them in your store (with a photo from the web) and only buy each item when you make a sale.

    #1178124
    3ntr3pr3n3ur
    Participant
    • Total posts: 46
    Up
    0
    ::

    “How can I make a profit buying my stock from a retail store”.
    The answer is you don’t. You’re looking to prove the concept of your business here, and even make a small loss initially if you have to. Later you can buy in bulk with the knowledge that you can sell them, rather than the risk you’re facing right now of buying $1000 of stock and selling none.

    Hey Ricky,

    I encourage you to take the advice provided by Dave – he’s on the money!!

    And if the “no profit” thing is stopping you from pursuing his advice, then just be sure to negotiate well with the retail store when purchasing your ‘samples’, thus any saving you make in buying, is a profit when selling….

    Regards,

    Alan

Viewing 10 posts - 1 through 10 (of 10 total)
  • You must be logged in to reply to this topic.