How to reduce paypal refunds for my business
Hello WF family, I recently started a online/offline aftermarket shoe business to create a start up funds for my main business goal so this will be a small time gig. The products come from china and take 3-4wks to be delivered.
My target audience will be high school males and some college students, age 14-22. Once i earn like $1,000 to $2,000 I will put on the back burner and focus on high earning business goals. I will deliver products in safe locations. I plan to market this site by passing out small flyers on high school campuses since i know they are ripe for this particular product and also on buy/sell location based apps. I once was a target persona for this niche a few years ago and have younger brothers know in this niche.
Most of the kids in this age group don't have debit cards. Due to this fact and my goals for this service, I intend to take cash payments to reach my short term goal. I also plan to pass this on to my younger brother who is 19yrs old. He can serve most of his old classmates/fb friends etc.
An older friend told me I should not take no cash payments at all. That all payments should be made from site. Then I could deliver them locally afterwards. My main purpose for the website in the first place was to display the shoes and sell from the location based buy/sell apps. I came to the decision that I will accept $30 down payment to guarantee product within 3-4wks which will go towards product purchase. Then and maybe then stock up on inventory but since my real goal is just $1-2k I don't think that should go that route. I will make like $50-$60 ROI per product.
My question is if I took the advice and decided to accept only payments online no dropshipping, how could i go about preventing refunds after i delivered the product to the customer. If i went that route based on the info above, it would look something like this:
Accept $30 online for non-refundable down payment(I don't even know if this is possible with paypal)
Pay the rest to order the product.
Product comes in 3-4wks
Customer pays remaining balance on paypal(by receiving my pay.me link)
Next day customer could ask for refund via paypal and possibly.
The reason why i didn't want to use paypal and accept only cash was due to refunds, and paypal fees.
Due to my goals, what do you think will be the best option?
My target audience will be high school males and some college students, age 14-22. Once i earn like $1,000 to $2,000 I will put on the back burner and focus on high earning business goals. I will deliver products in safe locations. I plan to market this site by passing out small flyers on high school campuses since i know they are ripe for this particular product and also on buy/sell location based apps. I once was a target persona for this niche a few years ago and have younger brothers know in this niche.
Most of the kids in this age group don't have debit cards. Due to this fact and my goals for this service, I intend to take cash payments to reach my short term goal. I also plan to pass this on to my younger brother who is 19yrs old. He can serve most of his old classmates/fb friends etc.
An older friend told me I should not take no cash payments at all. That all payments should be made from site. Then I could deliver them locally afterwards. My main purpose for the website in the first place was to display the shoes and sell from the location based buy/sell apps. I came to the decision that I will accept $30 down payment to guarantee product within 3-4wks which will go towards product purchase. Then and maybe then stock up on inventory but since my real goal is just $1-2k I don't think that should go that route. I will make like $50-$60 ROI per product.
My question is if I took the advice and decided to accept only payments online no dropshipping, how could i go about preventing refunds after i delivered the product to the customer. If i went that route based on the info above, it would look something like this:
Accept $30 online for non-refundable down payment(I don't even know if this is possible with paypal)
Pay the rest to order the product.
Product comes in 3-4wks
Customer pays remaining balance on paypal(by receiving my pay.me link)
Next day customer could ask for refund via paypal and possibly.
The reason why i didn't want to use paypal and accept only cash was due to refunds, and paypal fees.
Due to my goals, what do you think will be the best option?
My PROVEN ecommerce process, as seen on: Fox Business News, the NY Times & Flippa
My PROVEN ecommerce process, as seen on: Fox Business News, the NY Times & Flippa