Hi everyone,
my question is whether I could start and successfully monetize an ecommerce business over here in Hungary. My goal is to set one up while I'm still in college and scale it up so by the time I've graduated college I don't have to worry having to work a 9-5 job.
So I believe that I understand the basics of ecommerce. I have several products in a certain niche in mind that I could purchase on Alibaba and resell in my country.
However,I'm not quite sure about the proper steps.
Obviously,I'll have to register a company either as a sole proprietor or an LLC(over here, in order to be able to register as an LLC, you must have at least ~$10000 in your bank account,I don't have that much). Then I'd order samples from different suppliers. If I deem the quality adequate,I'd set up a website and start advertising with Adwords,right?
Secondly,my other question is regarding shipping costs. From what I've read on different threads, shipping costs can wildly vary between suppliers and it's not uncommon to face outrageous shipping costs. So with that in mind,since those threads were relevant to the US, do you think that shipping costs would cut too much in my margin?
I mean there are a few websites that sell a similar product,which can only be acquired in Asia, they probably have to deal with shipping costs as well,correct?
In case anyone's curious, the threads I've read are that of @Ecom man( I skimmed thru the first 40 or so pages), @PTP and @AgainstAllOdds.
Anyways, thanks for the feedback in advance. I am ready to pull the trigger but I don't want to screw up the process.
my question is whether I could start and successfully monetize an ecommerce business over here in Hungary. My goal is to set one up while I'm still in college and scale it up so by the time I've graduated college I don't have to worry having to work a 9-5 job.
So I believe that I understand the basics of ecommerce. I have several products in a certain niche in mind that I could purchase on Alibaba and resell in my country.
However,I'm not quite sure about the proper steps.
Obviously,I'll have to register a company either as a sole proprietor or an LLC(over here, in order to be able to register as an LLC, you must have at least ~$10000 in your bank account,I don't have that much). Then I'd order samples from different suppliers. If I deem the quality adequate,I'd set up a website and start advertising with Adwords,right?
Secondly,my other question is regarding shipping costs. From what I've read on different threads, shipping costs can wildly vary between suppliers and it's not uncommon to face outrageous shipping costs. So with that in mind,since those threads were relevant to the US, do you think that shipping costs would cut too much in my margin?
I mean there are a few websites that sell a similar product,which can only be acquired in Asia, they probably have to deal with shipping costs as well,correct?
In case anyone's curious, the threads I've read are that of @Ecom man( I skimmed thru the first 40 or so pages), @PTP and @AgainstAllOdds.
Anyways, thanks for the feedback in advance. I am ready to pull the trigger but I don't want to screw up the process.
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