Setting up an e-commerce business is incredibly competitive and rewarding. Aside from the website, i mean you have to buy the the stock, you would have to have a nice little range of products to start off.
And the cost of stocking electronics can run you up into the tens of thousands especially if you want to avail of bulk prices in order to compete with your competitors. Todays consumers are extremely price savvy because of the recession, they will shop around for the best prices and because you cant get bulk rates its extremely hard to compete against the likes of newegg, ebuyer etc etc.
I want to set up an e-commerce business myself ever since i was 16, i am now 20. I have about $13000 saved up, aside from the website costs, i dont know how im going to manage it in terms of other costs. I am a hard worker and always finish what i start, im just trying to figure out how im gonna do it.
I could do with a mentor if anyone is willing to help me?
EDIT:
I think im demographically screwed too. My little country has high VAT(23%), and my country is an island too to make things worse, Small population only 4.5 million, increased shipping costs, exporting to the UK is virtually out of reach since i wouldnt be able to compete against big e-commerce websites. God i wish lived in america, I know the government is corrupt and tyranny is rampant, but at least id have no tax added on to my online prices, and its a much bigger market, shipping from ireland to USA takes some time, so exporting to the US is out because i would then have disgruntled customers.
I know i might sound negative atm, but i have to think of all these factors, because exporting is where the money is at, especially for me because im demographicaly screwed, but it would be different if i lived in the USA.
Every entrepreneur has these negative thoughts at some stage in their life, but it has to be done
If someone could reply to this post and and possibly point out my wrong thinking, i want to succeed, but i dont want to stick my hand into the fire without knowing the consequences