The business is in another country (not the U.S) and is fairly new (~1 year) but with growing revenue. It is selling a product but the product itself is not special at all (it can be bought in many big chain stores, something as common as a screwdriver). IF sourced correctly, the value comes from quality for the price and probably the biggest reason for it's success, the marketing model. The product is targeted to a specific demographic, and agreements can be made to sell the products directly to this demographic AND have it be sold by the target demographic (giving % per sale) and also being sold online as well. The price of this product has to be competitive (I know this is not a good thing as per TMF ) with the big chain stores.
Now, the business model is validated in that country, it is a "first world" country so while culture may be different, the infrastructure on which the model is built is almost the same. However, there may be slight differences, and the lack of competition (discounting the big chain stores) worries me. The need is there, but it is a need like a new homeowner needs to buy a bathroom rug (aka, they will most likely buy what affordable, and in front of their face. The product is detached from personal identity).
Even though the model is validated in that country, before spending a dime on inventory, I want to have concrete validation in terms of the model working in the U.S. I am spending time on forums, and social media and will network in person to get feedback. I do not want to spend too much time validating as that may be a negative sign in of itself. Since I view the risk as high, one of my criteria is that no inventory will be ordered without pre-sales. This is my first business attempt and I will appreciate any thoughts on this, thanks!
Now, the business model is validated in that country, it is a "first world" country so while culture may be different, the infrastructure on which the model is built is almost the same. However, there may be slight differences, and the lack of competition (discounting the big chain stores) worries me. The need is there, but it is a need like a new homeowner needs to buy a bathroom rug (aka, they will most likely buy what affordable, and in front of their face. The product is detached from personal identity).
Even though the model is validated in that country, before spending a dime on inventory, I want to have concrete validation in terms of the model working in the U.S. I am spending time on forums, and social media and will network in person to get feedback. I do not want to spend too much time validating as that may be a negative sign in of itself. Since I view the risk as high, one of my criteria is that no inventory will be ordered without pre-sales. This is my first business attempt and I will appreciate any thoughts on this, thanks!
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