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Any advice on my business plan?

Discussion in 'Business & Tax Advice' started by Tester2900, Oct 28, 2016.

  1. Tester2900

    Tester2900 Registered Member

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    I'd like to cut this short.

    I'm buying 200 very good looking watches and 200 custom-logo watch boxes from AliExpress for a price of 1331 euros in total.

    After, I'm selling them for 19,95 euros each, which means, a profit of 2659 (3990-1331) euros for selling 200 watches.

    I will setup a webshop with Shopify and will start selling online and of course buyers will also have the option to come to my address to buy directly.

    Also, my marketing plan includes sending free watches to popular Instagram influencers around my province and generally through Instagram and Facebook.

    Any tips of advice, fellas?
     
    Last edited: Oct 28, 2016
  2. Tester2900

    Tester2900 Registered Member

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    Anyone?
     
  3. Bshido

    Bshido Registered Member

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    just do it lol, you'll fail anyways
     
  4. Young Padawan

    Young Padawan Registered Member

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    You are rich to give free watches, even no sales yet? anyway you are free to do what you think is best..goodluck..
     
  5. Lunaaa

    Lunaaa Elite Member

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    Why not dropship . It lowers the risk (and the reward )
     
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  6. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Try it.. it's not much money!
     
  7. WizGizmo

    WizGizmo Super Moderator Staff Member Moderator Jr. VIP Premium Member

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    Thread moved to the "Business & Tax Advice" section.
     
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  8. Tester2900

    Tester2900 Registered Member

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    What makes you think that? Curious
     
  9. Tester2900

    Tester2900 Registered Member

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    It will take too long for delivery if I dropshop, like 2-3 weeks. But with my method, it only takes 1-2 days and I get to customise my package.
     
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  10. Tester2900

    Tester2900 Registered Member

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    No, not rich but sufficient money for marketing
     
  11. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    I do a little in that niche and my acquisition cost per customer is in the 10.00 USD range so bear that in mind. I think should yours be the same that your margins are too low. I'd bump it up at least 10 more Euros.

    As to the Instagram idea, that is surely the way to go to get some inexpensive advertising pics and it should not be real hard to get some influencers to wear them for you in exchange for the watch or for a small fee but I'd be looking at some other ways to get the word out.
     
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  12. MoshaD

    MoshaD Newbie

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    Focus on more than one marketing channel.

    Ps: You didn't factor in shipping costs, website costs, outreach costs, other marketing costs. That margin figure will diminish very quickly.
     
  13. Tester2900

    Tester2900 Registered Member

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    The shipping cost is 4 euros, the customer pays it. Website cost is 30 euro per month. Marketing cost I think is around 50-100 euro per month.
    So, not that much.
     
  14. MisterF

    MisterF Jr. VIP Jr. VIP

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    " very good looking "

    Looks mean sweet f.a if they don't work. you should be buying very good watches that also happen to look good.
    People can buy a good looking watch for a couple of quid equiv in Bangkok etc.
     
  15. Tester2900

    Tester2900 Registered Member

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    The watches price range are in 4-7 euro and I sell them for 19,95 euro, so it's good right?
     
  16. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    If that is all you will spend on marketing, you'll not get much traffic unless you have an ace up your sleeve.
     
  17. Tester2900

    Tester2900 Registered Member

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    Yes, but people in Antwerp, Belgium are not in Bangkok or want to wait weeks for an item to arrive and will trust a Belgian seller more.
     
  18. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    No, it is too low by a bunch.
     
  19. Tester2900

    Tester2900 Registered Member

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    Ok, how would you do it?
     
  20. Tester2900

    Tester2900 Registered Member

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    I will send watches to several influencers, that will cost me like 50-100 euro and the rest of marketing I'll do through Instagram and Facebook.
    Maybe another methods later. What do you think?