My Fastlane Plan
Hello Everybody,
This is my first post on the forum however, I have been lurking in the shadows for the past 2 or 3 weeks. In this time I have gone to having ideas to pulling the trigger and actually making money. What I am doing combines both the online world as well as the offline world. I will be keeping a weekly journal, which I will update you guys with the sales, developments, and information about everything I’m doing that week. The one thing I will not do is tell you the product I am selling or where I am located. Each post will also have what I plan on doing for the following week or weeks.
After searching for a week or so I found a product on Alibaba. It is a low cost product averaging a dollar or 2 to manufacture and typically is selling at about $20 on both ebay and amazon. I went ahead and ordered 300 of them with 30 different variations and 10 each. This is for what I’m calling the test phase. I am still in the test phase and plan to stay in it for a week in order to gauge the interest and to see which variations are selling faster and which slower.
In the first day of having the items I have sold 4 of them at a price of $10 per. Two of these sales were from online sources and two were from in person sales. Not bad I made back $40 already!
Now many of you are probably asking how is this fastlane? Or how are you going to make money fast? Well, by not selling to the consumer anymore. I am planning on being a distributor. With a catalog made already with the 30 variations and locations scouted to start selling I can easily sell 300-1000 per business that I am targeting. I am placing an MOQ of 300 on purchased in order to make my life simpler and to bring in a decent amount of money.
So what’s the money aspect?
Cost to Manufacture: $1
Cost to Ship 300 $71
Average Selling Price to Consumers: $18.50
My Selling Price to consumers: $10
Wholesale Price: $7 per piece
An order of 300 pieces will bring in $2,100 removing $371 in costs plus the import fee. I will have a gross profit of around $1800 however, that is NOT accounting for the import fee OR tax on income.
Note: NOT All numbers are finalized and could change. The import duties have yet to be calculated.
~~That’s my Business
Next Gen
This week and Next Weeks Goals: Visit 50 businesses and demo the product to the owner. And Do more market research on adding more products.
Hello Everybody,
This is my first post on the forum however, I have been lurking in the shadows for the past 2 or 3 weeks. In this time I have gone to having ideas to pulling the trigger and actually making money. What I am doing combines both the online world as well as the offline world. I will be keeping a weekly journal, which I will update you guys with the sales, developments, and information about everything I’m doing that week. The one thing I will not do is tell you the product I am selling or where I am located. Each post will also have what I plan on doing for the following week or weeks.
After searching for a week or so I found a product on Alibaba. It is a low cost product averaging a dollar or 2 to manufacture and typically is selling at about $20 on both ebay and amazon. I went ahead and ordered 300 of them with 30 different variations and 10 each. This is for what I’m calling the test phase. I am still in the test phase and plan to stay in it for a week in order to gauge the interest and to see which variations are selling faster and which slower.
In the first day of having the items I have sold 4 of them at a price of $10 per. Two of these sales were from online sources and two were from in person sales. Not bad I made back $40 already!
Now many of you are probably asking how is this fastlane? Or how are you going to make money fast? Well, by not selling to the consumer anymore. I am planning on being a distributor. With a catalog made already with the 30 variations and locations scouted to start selling I can easily sell 300-1000 per business that I am targeting. I am placing an MOQ of 300 on purchased in order to make my life simpler and to bring in a decent amount of money.
So what’s the money aspect?
Cost to Manufacture: $1
Cost to Ship 300 $71
Average Selling Price to Consumers: $18.50
My Selling Price to consumers: $10
Wholesale Price: $7 per piece
An order of 300 pieces will bring in $2,100 removing $371 in costs plus the import fee. I will have a gross profit of around $1800 however, that is NOT accounting for the import fee OR tax on income.
Note: NOT All numbers are finalized and could change. The import duties have yet to be calculated.
~~That’s my Business
Next Gen
This week and Next Weeks Goals: Visit 50 businesses and demo the product to the owner. And Do more market research on adding more products.
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