Hello,
First of all I dont really have a question since I dont think anyway can help me, but if you got any advice after reading my text please tell me.
I started importing a few months ago. Had a lot of problems on the way but finally "made it" to get a profitable product/niche, which was making me more then 100$ profit a day (which is a big deal for me since I am still in high school).
Everything was going right:
-had a successful product #1 in my categorie making me nearly 150% profit each sale.
-had a 2nd and 3rd product in that niche in the sample-phase (soon to be released)
-had happy customers (well they still are)
There where a lot of roadblocks on my way (nearly 3 years now) after I started.
Now I face a legal roadblock I cant destroy (Please proof me wrong!! 😀 )
I am in germany and selling my product on amazon.de. My product is a little household product with a batterie. Therefore it falls under the electronic law which means that I need:
-A legit CE-Certification to register it on foundation-EAR (Maybe I can get a CE-certification but it will a) cost money b) may be worthless since I have a few problemes with my "manufacturer)
-A registration on foundation-EAR + A guarentee that I wont be bankroupt in the next years- this problem can be solved when I use a company which helps me with the guarentee.
BIG PROBLEM: To do all is I need a brand trademark registration. This will cost around 1000€ (including lawyer and other cost) but will take 6-8 MONTHS.
After that 8 more weeks for foundation-EAR registration.
Thats nearly a damn year!
Shortest time to get a brand does take 6 months and cost + 200€ more.
I cant possible wait 1 year.
There are so many things that can happen:
-The demand for my product can be gone.
-A already registred company can sell by this point.
etc.
I dont have enaugh capital to pay up to 2000€ right now and wait for 10 months till I make profits again.
Of cause I wont give up importing. I think I can find a new- non electric product.
But I dont want to let this great product and the earning potential go.
Note: I can be sued if I dont get the registration and continue selling.
Opinions/suggestions welcome.
Just had to share with someone.
First of all I dont really have a question since I dont think anyway can help me, but if you got any advice after reading my text please tell me.
I started importing a few months ago. Had a lot of problems on the way but finally "made it" to get a profitable product/niche, which was making me more then 100$ profit a day (which is a big deal for me since I am still in high school).
Everything was going right:
-had a successful product #1 in my categorie making me nearly 150% profit each sale.
-had a 2nd and 3rd product in that niche in the sample-phase (soon to be released)
-had happy customers (well they still are)
There where a lot of roadblocks on my way (nearly 3 years now) after I started.
Now I face a legal roadblock I cant destroy (Please proof me wrong!! 😀 )
I am in germany and selling my product on amazon.de. My product is a little household product with a batterie. Therefore it falls under the electronic law which means that I need:
-A legit CE-Certification to register it on foundation-EAR (Maybe I can get a CE-certification but it will a) cost money b) may be worthless since I have a few problemes with my "manufacturer)
-A registration on foundation-EAR + A guarentee that I wont be bankroupt in the next years- this problem can be solved when I use a company which helps me with the guarentee.
BIG PROBLEM: To do all is I need a brand trademark registration. This will cost around 1000€ (including lawyer and other cost) but will take 6-8 MONTHS.
After that 8 more weeks for foundation-EAR registration.
Thats nearly a damn year!
Shortest time to get a brand does take 6 months and cost + 200€ more.
I cant possible wait 1 year.
There are so many things that can happen:
-The demand for my product can be gone.
-A already registred company can sell by this point.
etc.
I dont have enaugh capital to pay up to 2000€ right now and wait for 10 months till I make profits again.
Of cause I wont give up importing. I think I can find a new- non electric product.
But I dont want to let this great product and the earning potential go.
Note: I can be sued if I dont get the registration and continue selling.
Opinions/suggestions welcome.
Just had to share with someone.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today