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Great idea for E-commerce but need to invest a lot of money on the prouct.

by danielx111
6 replies
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Hey guys,

After reading for few months I feel I'm ready but would like to know if there is something I missing before I invest 27,000$ on one product.

Basically the product is for anti aging, it's a cosmetic product and it works immediately, my plan is to make a video and show exactly how it works right away, also Before&After photos, a huge facebook ads capaign, this product is already on the market but for almost x2 price than the one I can supply, not many people aware about this product so I think with the right SEO and Facebook ads it can be very famous.

I just want to ask you, what are the chances to fail? I know without risks you can't have any profit, I'm on the internet marketing for over 5 years but never had my own website, so what your thoughts about it? I will appericate that if you can give me some advices before I pay the despoit and start my own brand.

So please let me know what you think about it and if it can actually be successful website.

Thanks!
#ecommerce #great #idea #invest #lot #money #prouct
  • Profile picture of the author Frank Donovan
    There's not enough information in your question.

    What's the $27,000 "deposit" for? Is this the cost of sourcing the product? Distribution? Exclusive rights?

    If you're spending that kind of sum on the product itself, how would you stop anyone else entering the market with a similar product?

    However, if the bulk of that money has been set aside for marketing, you could first start with a small test for a fraction of the cost, and expand from there.
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  • Profile picture of the author Mike Anthony
    very crowded field but still high demand. My advice

    Since it sounds like the product already exists - don't sink $27,000 into product but do a test first with a smaller supply.

    I got to admit though..sorry sounds like pure scam. No anti aging product even if it kinda works does so "immediately".
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  • Profile picture of the author Junaid khawaja
    Just like to give you some tidbits before you go for the launch. I am sure you would have work on the following points:

    1. Know yourself - your story/brand story, your values, and your shareable (testimonials, your product being featured somewhere etc).
    2. Know your customer - you must have talked with your prospect in person. What aging skin is bringing them? How it's affecting their life? WHY have kids started calling them grandpa when they are only 45 years old yet? Get into the nitty gritty of your customer.

    3. Know your product - I am sure you have worked on that. List all the facts and benefits associated with each fact.

    4. Know your alternatives - what makes you different from your competitors? Why you? Tabulate the differences between you and your competitors.

    Get all this in a single document. This is your brand bible.

    Thanks
    -J
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    I am conducting 5 FREE copy consultations till New Year...Jump onto my bandwagon while you still can..

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  • Profile picture of the author Kay King
    I'd advise caution if anyone is making suggestions - or offers - by PM here.

    You say there is a higher priced competing product....what kind of relation applies to the product and it's manufacture? If you have a different 'formula' is FDA or other approval necessary before selling the product (I don't know - that's why it's something I'd want to know).

    Could your product be seen as infringing on a patent for the other product - if there is such a patent? i.e., do the research and KNOW what you are getting into.

    This part worries me:

    reading for few months I feel I'm ready
    If you are determined to jump in - I'd jump into a smaller pool with a $5k investment on a smaller scale to learn the ropes and assess the potential.

    Do you have business experience....sales/marketing experience....etc? If the answer is no, no, no....proceed with extreme caution.
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    • Profile picture of the author danielx111
      Guys I appericate you reponse, Yes, I have experience with making money on the internet but never had my own E-commerce website, I was selling on eBay\Amazon (Not this product though), and made some good money, about 8k$ profit avg each month, I'm still doing this business but I do feel there is a huge potential behind this product if I actually will learn how to market it well i believe it can be a success.

      The reason I invest so much money is because this is the MOQ, I won't be able to order less since I create it on my own brand, I know this product for over 6 years since I let my mom use it every single day, this is just a cosmetic product, like a cream, but works like magic, this is not some bs on the market, it removes any wrinkles, but again, you have to apply it everyday, my plan was to :

      Create my own Logo (Fiverr).

      Create a proffesional Youtube video on 5-10 different customers on LIVE so they will be able to see the results

      Create a lot of Before&After photos

      Create a E-commerce, will have there my Youtube video, few blogs, and before&after photos (Will try to make a simple but proffesional website so it will be very easy to buy the product, since it's just 1 product).

      Then I will hire someone who will do my facebook capaign, i'm planning to start with 10$ budget and if it goes well I will go to 500-1k each day.

      Will promote my Youtube video also and make sure many people will be aware about this product.

      My conrens are : Maybe people don't really care about removing their wrinkles since it's just a cosmetic product that comes off in the shower they will be too lazy to apply it everyday (Although it takes less than 30 seconds).

      But on the other hand I see the huge success of the competitor, around 5,000 visitors everyday and he doesnt even promote it on facebook, I also have checked with many people that have wrinkles if they actually heard about this product, 95% said no...

      The product is cheap, 28 USD for 1 PC with free shipping worldwide, the competitor sell for 40usd without free shipping.

      I just ask my self, if he did such a huge success, why I can't? since I know EVERYTHING about this product, know every single forum i think i can promote it well but still for some reason I feel insecured and scared that I will stuck with thousands of PC's, I'm 22 years old and made a lot of money on the internet since I was a little kid and every single time their was a little risk but never done something so big before and something on my own brand so hope you guys can give me some tips, but yeah, I think im go for it.

      Thanks guys!
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  • Profile picture of the author Importexport
    I think you have fallen for the myth that MOQs are cast in concrete. $27,000 is waaaay too much to pay for a first order.

    You can negotiate smaller orders if you know how. I have taught many hundreds how to do it.

    Is your buying price $28 or is that your selling price? If that's your selling price you need to buy for no more than $10 to allow for other costs.

    I suspect that you are buying from a supplier on Aliexpress. If so BEWARE! If that is your source it might pay you to first read some of the thousands of horror stories to be found on Aliexpress review sites such as these:
    https://www.sitejabber.com/reviews/www.aliexpress.com
    https://www.influenster.com/reviews/aliexpresscom
    www.resellerratings.com/store/AliExpress
    https://www.trustpilot.com/review/www.aliexpress.com
    https://aliexpress.pissedconsumer.com/

    If your product, or your competitor's product isn't patented it can be legally copied, and even if it is patented, there are countless unscrupulous people out there who will copy it anyway.

    Don't forget about product liability insurance.

    Do you know how to pay securely? I don't mean Trade Assurance or similar schemes. There are too many loopholes in those B2B website schemes. See my AMA for posts on that subject: Ask Me Anything About Product Sourcing And Importing For Profit. ― Veteran Importer Here.

    I hope you will listen to some of the advice being offered by people on this forum who truly want to help you, because I have a feeling that you are heading for disaster.

    Walter Hay
    Provenchinasourcing
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    Use 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
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