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Does this kind of business work?

by znightmare
13 replies
I was wondering if this type of thing works and if people are doing it. Basically you set up a website where a certain product is sold (old coins for an example). But it's other people who are selling their items and not myself, I'd take commission on the item sold; like Ebay but not an auction site and on a smaller scale obviously. As for shipping, once the item is bought, the customer would ship the item themselves so I wouldn't have to deal with that at all. Would this even work? I see a challenge in getting people to trust you in the beginning.
#business #kind #work
  • Profile picture of the author arkina
    Yes, this is called affiliate marketing! It could also be considered dropshopping, I suppose. Either way, people do it and they are successful. Good luck to you!
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    • Profile picture of the author znightmare
      Originally Posted by arkina View Post

      Yes, this is called affiliate marketing! It could also be considered dropshopping, I suppose. Either way, people do it and they are successful. Good luck to you!
      Haha true, I'm not too familiar with affiliate marketing but yea I guess it is. I'm the website owner and the sellers are the merchants. And that's good to know!
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    • Profile picture of the author Alexa Smith
      Banned
      Originally Posted by arkina View Post

      Yes, this is called affiliate marketing!
      Sorry, but it just isn't, Arkina - actually it has nothing to do with affiliate marketing at all: it's a totally unrelated business model.
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  • Profile picture of the author znightmare
    Actually I just thought of a flaw with starting up a business like this. How would you prevent scamming unless you hold the money until the product gets to the buyer and they're satisfied? If someone's item sells, they will become notified that they need to ship it. Don't you think they'd expect their money first? And then what if they get payed, and they send the buyer a beat up worthless product?
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  • Profile picture of the author stoltingmediagroup
    Actually it's neither affiliate marketing nor drop shipping. This idea is closer to running a classifieds ad website, where the website owner takes a percentage of the sale instead of a flat fee for advertising.
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    • Profile picture of the author znightmare
      Originally Posted by stoltingmediagroup View Post

      Actually it's neither affiliate marketing nor drop shipping. This idea is closer to running a classifieds ad website, where the website owner takes a percentage of the sale instead of a flat fee for advertising.
      Oh okay I see. So do you think this kind of thing is a good idea?
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      • Profile picture of the author stoltingmediagroup
        Originally Posted by znightmare View Post

        Oh okay I see. So do you think this kind of thing is a good idea?
        Whether any idea is good or not, should be something only YOU decide.

        If you stick anything on your wall this year, stick my wise words above.

        Right beside this one:

        "The graveyard is full of great ideas, inventions and big dreams."

        I've heard many variations of this phrase, but it applies to all of us Entrepreneurs.

        If you have a passion for a certain thing, then go do some market research and find out what is already out there. Then with that info, go build a website / service around your passion, and just make sure to do it different, better, cheaper, faster, whatever allows you to grab your competition's clients. (Think about how Facebook grabbed the attention of all Myspace visitors and then some).

        Good luck.
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        Arnold Stolting - Stolting Media Group
        "I LOVE The Song! The Vibe Is Positive And Firm!" - Kymani Marley. (Son of Bob Marley).
        "Very High Quality!" Jeremy Harding - Manager / Producer. Sean Paul.
        "They Are FANTASTIC!" - Willie Crawford.
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        • Profile picture of the author znightmare
          Originally Posted by stoltingmediagroup View Post

          Whether any idea is good or not, should be something only YOU decide.

          If you stick anything on your wall this year, stick my wise words above.

          Right beside this one:

          "The graveyard is full of great ideas, inventions and big dreams."

          I've heard many variations of this phrase, but it applies to all of us Entrepreneurs.

          If you have a passion for a certain thing, then go do some market research and find out what is already out there. Then with that info, go build a website / service around your passion, and just make sure to do it different, better, cheaper, faster, whatever allows you to grab your competition's clients. (Think about how Facebook grabbed the attention of all Myspace visitors and then some).

          Good luck.
          Great advice, thanks so much! I'd definitely love to make a website relating to one of my passions.

          What I really like are books, outerspace (though I don't know much about it), traveling/seeing the world. It might be that I'm just not creative enough, but I can't think of any good ideas for an online business relating to my passions...

          Could be that I just haven't thought long and hard enough though
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          • Profile picture of the author HumbleGuy
            As @SMG said, it's you who need to decide and take action on your own, to start with. Your understanding must be keen and you're the creative force who'll drive it all the way to success.

            Best of luck mate!
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  • Profile picture of the author hustlinsmoke
    If you can get the needed traffic to get the needed posts. Hard to balance anything like that without alot of capital.

    Seems like this is just a thought in your head anyways. I would think you would have to be really serious to make something like this work.
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  • Profile picture of the author Victor Edson
    Sounds like a consignment website.

    If you could get a few trustworthy product providers and provide some traffic it could work.

    Amazon has done pretty good with that structure.
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  • Profile picture of the author flovin
    You never know if it works until you try, mate. I would suggest giving it a go.
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    • Profile picture of the author CyberAlien
      Originally Posted by flovin View Post

      You never know if it works until you try, mate. I would suggest giving it a go.
      Well... actually you can get a pretty good guess at whether something will work or not by asking other people's opinions first. Otherwise you're going to waste a ton of time and money every single time you think of a new idea
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