SittingDuck12
New Contributor
- Joined
- Mar 13, 2014
- Messages
- 1
Rep Bank
$140
$140
User Power: 1,500%
Hey everybody I finally took the time to create an account and introduce myself. I'm in my early twenties and live in the Chicago area. TMF changed my damn life. Sorry for length in advance but maybe you'll find inspiration.
I found TMF not very long ago at all. I thought constantly about what my fast lane could be, tons of decent ideas.. little research no action. One day while browsing a forum I have been a long time member of, it hit me like a bus. There was no competition, a HUGE demand, and decent barrier to entry. Also, this is a extremely specific niche.. and something I love and participate in. Hmmm
Long story short version: did research, asked if people would buy (didn't try preorders), more research, made a plan, found a local investor, more research, rented a tiny 1500sqft work space, bought all second-hand production equipment and did the first test batch, test fit on the application that I own.
It molded flawless. It fit perfect. Exact OEM match.
I put up a thread on the related forum, showing my newly created product fit the application properly/perfect color/was ready to ship and within an hour I had 14 sales! That night i ended up with 32 products that were ready to ship in the morning and paid for already by customers. My product sells for $349.99 and costs me around $75 to make. People are buying boxes of 10+ because they know I will not produce these forever. I have already repaid the investor and am now making good profit. Current demand requires about 5 hours per day, 3 days a week (tues,wed,thurs). I can't complain. Plus, the need will die out within a year or two as these products are made for something produced in 1987 and there are not many of them left worldwide. This is just temp. bootstrapping really, I suppose. My exit plan is produce an extra 1-2k units overstock and sell the business or just equipment when demand dies. Then sell off overstock for the rest of my life as requested. In 3 months I've sold just shy of 800 of these, many 20+ unit orders with no discount. I am the first to ever offer re-production for this specific part. Collectors own multiple of what this is intended for and are clearly stocking up. Built a small site recently and am beginning SEO. This is just the start of big things to come!
I WOULD NOT be in this position if not for TMF, this forum and all of its amazing contributors and information sources. Sorry this is huge! I just wanted to thank everyone here and hope I can provide the same type of valuable information one day, that got me here to this point! THANK YOU EVERYONE =]
I found TMF not very long ago at all. I thought constantly about what my fast lane could be, tons of decent ideas.. little research no action. One day while browsing a forum I have been a long time member of, it hit me like a bus. There was no competition, a HUGE demand, and decent barrier to entry. Also, this is a extremely specific niche.. and something I love and participate in. Hmmm
Long story short version: did research, asked if people would buy (didn't try preorders), more research, made a plan, found a local investor, more research, rented a tiny 1500sqft work space, bought all second-hand production equipment and did the first test batch, test fit on the application that I own.
It molded flawless. It fit perfect. Exact OEM match.
I put up a thread on the related forum, showing my newly created product fit the application properly/perfect color/was ready to ship and within an hour I had 14 sales! That night i ended up with 32 products that were ready to ship in the morning and paid for already by customers. My product sells for $349.99 and costs me around $75 to make. People are buying boxes of 10+ because they know I will not produce these forever. I have already repaid the investor and am now making good profit. Current demand requires about 5 hours per day, 3 days a week (tues,wed,thurs). I can't complain. Plus, the need will die out within a year or two as these products are made for something produced in 1987 and there are not many of them left worldwide. This is just temp. bootstrapping really, I suppose. My exit plan is produce an extra 1-2k units overstock and sell the business or just equipment when demand dies. Then sell off overstock for the rest of my life as requested. In 3 months I've sold just shy of 800 of these, many 20+ unit orders with no discount. I am the first to ever offer re-production for this specific part. Collectors own multiple of what this is intended for and are clearly stocking up. Built a small site recently and am beginning SEO. This is just the start of big things to come!
I WOULD NOT be in this position if not for TMF, this forum and all of its amazing contributors and information sources. Sorry this is huge! I just wanted to thank everyone here and hope I can provide the same type of valuable information one day, that got me here to this point! THANK YOU EVERYONE =]
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