Good afternoon, Fastlaners.
I have recently started execution process to start a small online business to sell unique and proven imported dog and cat treats and dietary supplements from a certain foreign country (I live in US). They are quality and human grade items and I am certain they will bring value to the pet market.
I would highly appreciate any feedback or criticism on my plan:
The steps I have taken so far;
1. I have identified potential treats and dietary supplements I would like to import and sell. They will already come manufactured, so I do not have to do it.
2.I have identified a few potential suppliers/manufacturers. I have nearly secured one supplier that can provide me with 2 or 3 different treats/dietary supplements. I will need to find and secure more.
3. I have sent an inquiry email to FDA and USDA to find out what government regulations must be met for importing and selling the products in US. I will also call them after the holiday. This step may be most difficult to complete (Mr. Walter gave me a very valuable insight on it-thank you!!), but I must pass it to import to US.
4. Identified a reasonably priced agency to file an LLC and other papers with.
Does my concept meet CENTS/CENTS Commandments?
Need: There are so many dogs and cats in US. The market is huge. (https://www.avma.org/KB/Resources/Statistics/Pages/Market-research-statistics-US-pet-ownership.aspx) unique, quality pet treats and dietary supplements will bring much value to the pet market in US.
Entry: Apparently you need to find a supplier and meet government requirements to import. Then you will need to build up your business, etc. There is a good barrier, I would say.
Control: I plan on selling on my own website (I will use wix.com), Ebay, Etsy, and maybe Amazon. I will try to supply to pet/grocery stores and other online sellers, such as chewy, PetSmart, etc. I will hire free-lancers on fiverr to professionally make banners for websites and other selling platforms.
Scale: Unfortunately, unlike a software, I will have to simply import more when sales go higher if market likes my values. But I would not have to manufacture them by myself.
Time: I will have to work hard to build up my own brand and business. I will need to "prove myself" before being able to supply to big grocery brands.
Short terms goals:
I do not want the business to be a cute little home made cookies seller. I want to do it properly and grow up my brand. I will first need to be cleared from the government that I can import the items I want. I hope their regulations put an end to my business idea. When the business launches, I will need to find ways to advertise and find stores that will buy my items, so I can increase sales amount.
It feels like there are so many barriers and problems to solve ahead of me. It gets me a little nervous as well, and I get no emotional support from my family either. My mom is urging me to find a second job waiting tables. But I know the rewards of success is unlimited.
Thank you.
I have recently started execution process to start a small online business to sell unique and proven imported dog and cat treats and dietary supplements from a certain foreign country (I live in US). They are quality and human grade items and I am certain they will bring value to the pet market.
I would highly appreciate any feedback or criticism on my plan:
The steps I have taken so far;
1. I have identified potential treats and dietary supplements I would like to import and sell. They will already come manufactured, so I do not have to do it.
2.I have identified a few potential suppliers/manufacturers. I have nearly secured one supplier that can provide me with 2 or 3 different treats/dietary supplements. I will need to find and secure more.
3. I have sent an inquiry email to FDA and USDA to find out what government regulations must be met for importing and selling the products in US. I will also call them after the holiday. This step may be most difficult to complete (Mr. Walter gave me a very valuable insight on it-thank you!!), but I must pass it to import to US.
4. Identified a reasonably priced agency to file an LLC and other papers with.
Does my concept meet CENTS/CENTS Commandments?
Need: There are so many dogs and cats in US. The market is huge. (https://www.avma.org/KB/Resources/Statistics/Pages/Market-research-statistics-US-pet-ownership.aspx) unique, quality pet treats and dietary supplements will bring much value to the pet market in US.
Entry: Apparently you need to find a supplier and meet government requirements to import. Then you will need to build up your business, etc. There is a good barrier, I would say.
Control: I plan on selling on my own website (I will use wix.com), Ebay, Etsy, and maybe Amazon. I will try to supply to pet/grocery stores and other online sellers, such as chewy, PetSmart, etc. I will hire free-lancers on fiverr to professionally make banners for websites and other selling platforms.
Scale: Unfortunately, unlike a software, I will have to simply import more when sales go higher if market likes my values. But I would not have to manufacture them by myself.
Time: I will have to work hard to build up my own brand and business. I will need to "prove myself" before being able to supply to big grocery brands.
Short terms goals:
I do not want the business to be a cute little home made cookies seller. I want to do it properly and grow up my brand. I will first need to be cleared from the government that I can import the items I want. I hope their regulations put an end to my business idea. When the business launches, I will need to find ways to advertise and find stores that will buy my items, so I can increase sales amount.
It feels like there are so many barriers and problems to solve ahead of me. It gets me a little nervous as well, and I get no emotional support from my family either. My mom is urging me to find a second job waiting tables. But I know the rewards of success is unlimited.
Thank you.
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
