- Joined
- May 29, 2021
- Messages
- 552
Rep Bank
$1,780
$1,780
User Power: 150%
Hey everyone! I have an idea for an Ecommerce store.
I love cereal. If a couple of aliens were to arrive on Earth to take 10% of the people who love cereal, I'd probably be sucked right up. From Lucky charms, to Frosties, to honey loops, to Reese Puffs I love them all. Except oatmeal XD.
I was discussing with my friend who has makes a couple hundred each month with such a business. He explained how one can launch an e-commerce store with a couple of dollars really (Minus the website hosting costs and shipping).
1. Be passionate about the product or know the product inside out.
2. Purchase a few of the product (Like 2 or 3 in stock).
3. Solve pain points in a proven market as you go.
4. Sell it online and run ads to it (This would help me learn about web design and digital marketing in the process) for like a month to see how it is.
5. Use creative advertising to go even further.
The plan is to sell solely already existing cereal and then with time and capital gained from the business, use that to create a whole new brand cereal the market would love and sell that worldwide or nationwide. Yum.
So what do you think?
Are the margins too low? Is it Fastlane? Would shipping costs eat through the profits? Is there even really a need?
Or maybe I should save to instead sell a higher priced product.
I might still test it just to see where it can go and if it doesn't work fine. But any advice would be appreciated.
Thanks!
I love cereal. If a couple of aliens were to arrive on Earth to take 10% of the people who love cereal, I'd probably be sucked right up. From Lucky charms, to Frosties, to honey loops, to Reese Puffs I love them all. Except oatmeal XD.
I was discussing with my friend who has makes a couple hundred each month with such a business. He explained how one can launch an e-commerce store with a couple of dollars really (Minus the website hosting costs and shipping).
1. Be passionate about the product or know the product inside out.
2. Purchase a few of the product (Like 2 or 3 in stock).
3. Solve pain points in a proven market as you go.
4. Sell it online and run ads to it (This would help me learn about web design and digital marketing in the process) for like a month to see how it is.
5. Use creative advertising to go even further.
The plan is to sell solely already existing cereal and then with time and capital gained from the business, use that to create a whole new brand cereal the market would love and sell that worldwide or nationwide. Yum.
So what do you think?
Are the margins too low? Is it Fastlane? Would shipping costs eat through the profits? Is there even really a need?
Or maybe I should save to instead sell a higher priced product.
I might still test it just to see where it can go and if it doesn't work fine. But any advice would be appreciated.
Thanks!
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. :-)
Last edited:
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