So this will be my progress thread on entering an over saturated $11.5B market.
The thing that intrigued me about this market is that the barrier to entry is medium, it's hard to enter without around $4k and yet it still seems very saturated.
One thing I noticed as a consumer of this marketplace is the marketing seems to be very generic and sometimes non existent...
It's a marketplace where product X looks exactly like product Y with the only differentiation being the font or color of the packaging.
___________
I'm going to try to keep initial investments as small as possible, I'm sitting at around $1,100 invested so far and my projections say that worst case scenario I can dump on eBay to recoup the investment very quickly if need be.
That being said, Amazon and eBay sales for this product don't seem to be suffering as many of the listings have over 100 customer reviews.
Even better, the pricing on eBay and Amazon isn't suffering as with my cost per item if I sold at eBay and Amazon prices I'd have a margin of about $35 with a 350% markup.
____________
My marketing will be something that grabs attention and relates to the customer.
Imagine this:
You're in walmart and there's 200,000 bottles of lotion along a 400' stretch of shelving. All look identical except the font and color of the package... And then there's mine. You'd be able to see if from across the store so to speak.
____________
Also, this product is something that will help people of almost all ages and genders etc... And I'm going to devote about 30% of my initial inventory as free samples to people who hold a large number of followers or people who influence a group of people (think college professor, radio host, yoga instructor etc)
I'll keep updating as I proceed, but I'm excited and this is the first time I've had that gut feeling that this one is going to work...
Thanks for reading!
-McCoy Hawkins
The thing that intrigued me about this market is that the barrier to entry is medium, it's hard to enter without around $4k and yet it still seems very saturated.
One thing I noticed as a consumer of this marketplace is the marketing seems to be very generic and sometimes non existent...
It's a marketplace where product X looks exactly like product Y with the only differentiation being the font or color of the packaging.
___________
I'm going to try to keep initial investments as small as possible, I'm sitting at around $1,100 invested so far and my projections say that worst case scenario I can dump on eBay to recoup the investment very quickly if need be.
That being said, Amazon and eBay sales for this product don't seem to be suffering as many of the listings have over 100 customer reviews.
Even better, the pricing on eBay and Amazon isn't suffering as with my cost per item if I sold at eBay and Amazon prices I'd have a margin of about $35 with a 350% markup.
____________
My marketing will be something that grabs attention and relates to the customer.
Imagine this:
You're in walmart and there's 200,000 bottles of lotion along a 400' stretch of shelving. All look identical except the font and color of the package... And then there's mine. You'd be able to see if from across the store so to speak.
____________
Also, this product is something that will help people of almost all ages and genders etc... And I'm going to devote about 30% of my initial inventory as free samples to people who hold a large number of followers or people who influence a group of people (think college professor, radio host, yoga instructor etc)
I'll keep updating as I proceed, but I'm excited and this is the first time I've had that gut feeling that this one is going to work...
Thanks for reading!
-McCoy Hawkins
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
