Multiple streams of income - Small online store?

8 replies
  • ECOMMERCE
  • |
Hi all,

I'm a manager in logistics company, after my savings, bills, current expenses every single month I have 250-300$ I can dedicated for my business. I have experience in logistics field, but I would like to have business in another industry. I'm thinking about something online, I can do remotely, or partly remotely. My wife raises our 2 months old daughter so she can help with organizing and developing the idea. I do not like neither blogging nor affiliate marketing nor writing. I would rather go for E-Commerce Site or something else if there is but it is out of my minds. I had one online shop in the past, it went good but after couple months there was substitute for the product I was providing, I didn't have a supplier for the new one in the market so sales dropped, business closed. I have little experience with SEO, marketing, platform, customer service etc., felt good with these things.

My only consideration is what niche I should pick - I'm thinking about pet beds in the begging (buying from small production companies, which have no idea how to sell in the Internet and selling online - Amazon/own online store), if it goes well, adding other products for pets - pet-food, toys etc..

I have no other ideas what product can bring money in the table - searching google trends but having difficult what else is hot.

I would like to add in the back of my home I have small outbuilding which can be used for small warehouse/small production line.

The reason of this idea is I would like to create second source of income, save a little bigger amount of money and invest in real estate / dividend income stocks to have more sources of income. The bigger picture is to escape rat race, build wealth and make money working for me, rather me working for money.

Any advises will be strongly appreciated - let me know what are your thoughts!
#income #multiple #online #small #store #streams
Avatar of Unregistered
  • Profile picture of the author dave_hermansen
    Re: pet beds, it is not something I would choose. The market is saturated and you can literally buy them EVERYWHERE (including grocery stores). Successful product niches tend to be ones where the product is not readily available in local stores. In other words, it is something you HAVE TO buy online.

    Also, the price point and profit on pet beds is minuscule. If you don't want to write and don't have confidence in your SEO abilities, you're going to need to have a product with a pretty decent profit per order (at least $25 for private label products, at least $50, preferably more, for name brand dropshipped items). Otherwise, you won't have enough money to pay for advertising which is the only way you are going to get traffic.
    Signature
    StoreCoach.com - Learn How to Create Your Own Products & Brand - Buy & Sell Websites
    My PROVEN ecommerce process, as seen on: Fox Business News, the NY Times & Flippa
    {{ DiscussionBoard.errors[11615310].message }}
    • Profile picture of the author dezynfekuje
      Yes, got that, didn't consider this, thank you. Thinking more, you are right.

      I'm not asking about business model, but, what currently, in your opinion, what are the products customers have to buy online with a pretty decent profit per order?

      Also, for the future, how do you find trends and products which are worth to start new business with?
      {{ DiscussionBoard.errors[11615319].message }}
      • Profile picture of the author dave_hermansen
        Originally Posted by dezynfekuje View Post

        Yes, got that, didn't consider this, thank you. Thinking more, you are right.

        I'm not asking about business model, but, what currently, in your opinion, what are the products customers have to buy online with a pretty decent profit per order?

        Also, for the future, how do you find trends and products which are worth to start new business with?
        There are thousands of those product niches. Unfortunately, smart people are not going to invite competition by revealing them.
        Signature
        StoreCoach.com - Learn How to Create Your Own Products & Brand - Buy & Sell Websites
        My PROVEN ecommerce process, as seen on: Fox Business News, the NY Times & Flippa
        {{ DiscussionBoard.errors[11615490].message }}
    • Profile picture of the author JPs copy
      Guy with 2 dogs here. For me, pet beds are a dime a dozen.
      Signature

      John Peters | Content Marketing / Email Specialist
      Latest post: You do not have to buy from Tai Lopez, but he is definitely worth studying

      {{ DiscussionBoard.errors[11615565].message }}
  • Profile picture of the author DABK
    Go to amazon.com, click on a department, click on a sub-section, till you get to sort by most popular... It will get your brain thinking niches and products.


    Follow savdige4, member here, specifically his thread about teaching his kid how to do ebay: https://www.warriorforum.com/warrior...days-ebay.html
    {{ DiscussionBoard.errors[11615540].message }}
    • Profile picture of the author luciesmazanska
      Originally Posted by DABK View Post

      Go to amazon.com, click on a department, click on a sub-section, till you get to sort by most popular... It will get your brain thinking niches and products.


      Follow savdige4, member here, specifically his thread about teaching his kid how to do ebay: https://www.warriorforum.com/warrior...days-ebay.html
      very good point, Amazon is a trend setter, what is there dont use, what is not, take it and sell it!
      Signature
      ★★★★★
      {{ DiscussionBoard.errors[11617451].message }}
  • Profile picture of the author JPs copy
    What are you interested in to pursue as a potential side gig? Trends come and go. What's hot today is not tomorrow. If something is popular, but you're not interested, it's going to be a slog.

    Make lists of what you're interested in, but also what is potentially profitable.
    Signature

    John Peters | Content Marketing / Email Specialist
    Latest post: You do not have to buy from Tai Lopez, but he is definitely worth studying

    {{ DiscussionBoard.errors[11615564].message }}
    • Profile picture of the author culpetm
      Originally Posted by JPs copy View Post

      What are you interested in to pursue as a potential side gig? Trends come and go. What's hot today is not tomorrow. If something is popular, but you're not interested, it's going to be a slog.

      Make lists of what you're interested in, but also what is potentially profitable.
      This is good advice. Pick an evergreen niche, not a trend.
      Signature
      THE CONEXA.COM INTERNET MARKETING PORTAL
      Where only the best tips, techniques, and advice are voted to the top.
      {{ DiscussionBoard.errors[11616394].message }}
Avatar of Unregistered

Trending Topics