New Member Intoduction
Hello Everyone. I am new to this forum and would like to introduce myself briefly, discuss my past experience with a failed import business, describe a little what I am trying to accomplish, and what I can offer to this forum. Hoping, that through networking, to exchange my technical expertise for knowledge with respect to a creating a successful ecommerce business.
About three years ago, I made an attempt at an online import business. I intended to start off small by selling watches and adding different products as I grew. The supplier that I found in china had a minimum order requirement of 200 units per item. So I picked 3 different style watches (mens, ladies, and unisex) and imported 600 watches. It took about 1.5 months for them to arrive with a total purchase and freight cost of just over $5,000.00. I built my own ecommerce site (I am a software developer by trade - will get to this in a minute) and spent an additional $2,000 on various online pay-per-click advertising models (I didn't use spam mail - I hate spam).
The final result of this venture landed 16 sales, three of which resulted in returns and chargebacks. I was out $7k and had inventory I couldn't move.
As I mentioned, I am a software developer by trade. I have been writing enterprise level applications since 1990. Many of these applications was for the healthcare industry. In 2005, I decided to return to college and obtain a degree in nursing. To support my way through college, I quit my formal development job and worked as a private consultant doing software development for select clients. Presently, I am a critical care nurse and do periodic development on the side for past clients who refuse to go anyplace else.
Which brings me to what I am trying to achieve. I have a concept for a medical device that would be used for critically ill patients on life support or those who my need extended life support. My device will greatly improve how we as nurses manage these patients and can reduce the potential for complications that can harm patients. After doing a preliminary product search, and searching the US patent office I have yet to find anything like what I am proposing. I presently have a CAD engineer putting the final touches on technical schematics, which will be forward to the US patent office.
Once a patent has been established, I am looking for a manufacture that can possibly produce a small quantity of products, about 500 total, so a clinical trial can be conducted. In medicine, clinical trials have to go through a lot of legal hoops designed to protect patients from harm. So the trials may take up to a year before I can get approval to formally market the item.
While doing this research for my medical device, it sparked a renewed interest in setting up an ecommerce site for two purposes: to sell tangible products, and to offer ecommerce solutions for a community such as this. So, presently I am working on developing an ecommerce site and should have a feature rich robust ecommerce solution and hosting service up and running soon.
Presently, my supplier research is putting me pretty much in the same place I was a few years ago. I am trying to avoid drop shipping companies like doba, whoesale2b, ect... I have heard too much negative things about doing drop shipping. I found a few suppliers on Alibaba and salehoo but nothing that excites me. I am a little worried committing to holding a large inventory that may not sell.
Sorry for the long read. I am hoping that through networking with this community that I might be able to learn from successful individuals here. Thanks for your time.
About three years ago, I made an attempt at an online import business. I intended to start off small by selling watches and adding different products as I grew. The supplier that I found in china had a minimum order requirement of 200 units per item. So I picked 3 different style watches (mens, ladies, and unisex) and imported 600 watches. It took about 1.5 months for them to arrive with a total purchase and freight cost of just over $5,000.00. I built my own ecommerce site (I am a software developer by trade - will get to this in a minute) and spent an additional $2,000 on various online pay-per-click advertising models (I didn't use spam mail - I hate spam).
The final result of this venture landed 16 sales, three of which resulted in returns and chargebacks. I was out $7k and had inventory I couldn't move.
As I mentioned, I am a software developer by trade. I have been writing enterprise level applications since 1990. Many of these applications was for the healthcare industry. In 2005, I decided to return to college and obtain a degree in nursing. To support my way through college, I quit my formal development job and worked as a private consultant doing software development for select clients. Presently, I am a critical care nurse and do periodic development on the side for past clients who refuse to go anyplace else.
Which brings me to what I am trying to achieve. I have a concept for a medical device that would be used for critically ill patients on life support or those who my need extended life support. My device will greatly improve how we as nurses manage these patients and can reduce the potential for complications that can harm patients. After doing a preliminary product search, and searching the US patent office I have yet to find anything like what I am proposing. I presently have a CAD engineer putting the final touches on technical schematics, which will be forward to the US patent office.
Once a patent has been established, I am looking for a manufacture that can possibly produce a small quantity of products, about 500 total, so a clinical trial can be conducted. In medicine, clinical trials have to go through a lot of legal hoops designed to protect patients from harm. So the trials may take up to a year before I can get approval to formally market the item.
While doing this research for my medical device, it sparked a renewed interest in setting up an ecommerce site for two purposes: to sell tangible products, and to offer ecommerce solutions for a community such as this. So, presently I am working on developing an ecommerce site and should have a feature rich robust ecommerce solution and hosting service up and running soon.
Presently, my supplier research is putting me pretty much in the same place I was a few years ago. I am trying to avoid drop shipping companies like doba, whoesale2b, ect... I have heard too much negative things about doing drop shipping. I found a few suppliers on Alibaba and salehoo but nothing that excites me. I am a little worried committing to holding a large inventory that may not sell.
Sorry for the long read. I am hoping that through networking with this community that I might be able to learn from successful individuals here. Thanks for your time.
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mightyprince -
Thanks - 1 reply
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SignatureUse emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com{{ DiscussionBoard.errors[10190191].message }} -
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Thanks
SignatureUse emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com{{ DiscussionBoard.errors[10263168].message }} -
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