Change of business plan
Initially, I wanted to start by selling all my products using Amazon FBA. However, I decided that I want to keep my price exceptionally low in the beginning so that I can attract some reviews. So, for the time being, I’ll be handling the products myself. In the future (around Stage 3), I will switch to FBA for convenience and efficiency.
Stages of Development
Throughout the last month, I’ve decided on a structure for my business development.
- Stage 1: Sell a wide assortment of pre-made products under Trading Company X
- Stage 2: Refine assortment - sell a smaller number of similar products under Trading Company X
- Stage 3: Customize, improve, and sell the best products (white-label marketing) under Brand A
- Stage 4: Repeat for a new type of products to be sold under Brand B
- Stage 5: Learn how to export
So, the business structure would look something like
I’m still in Stage 1. Here were the primary goals:
- 1A - familiarize myself with AliExpress
- 1B - sort through an incredible variety of products
- 1C - make a list of potential products
- 1D - narrow down that list to 10 products
- 1E - order samples to be sent to me in America
- 1F - place first small test order (more than 30) of each desired item
- 1G - sell on Amazon
Where things stand
I have currently finished Goal 1E. I chose 8 product samples of all different types and had them sent to America. Now I’m waiting for everything to arrive.
Pro: the shipping was free! - no money spent
Con: the shipping is slow - only 1 product has arrived in 2 weeks
After the products will arrive, I will evaluate them on 2 main, simple points:
- Is it durable?
- Is it as small, convenient, and lightweight as I thought?
I have already answered the following questions:
- Can it be sold for a reasonable profit?
- Including Amazon fees, shipping to America, shipping to customers, purchase price, etc.
- Do you think there’s a market for this product?
- Is anyone selling it? Are there too many sellers? Does this kind of product have lots of reviews?
- Does this product usually have more than 4-star ratings?
Well, that's a basic summary of January! This part of the process is pretty basic, so I decided to skimp on the details. As the process gets more complicated, I hope to include more information in my future posts. Thanks for stopping by!