5 E-Commerce Ideas for the Young Entrepreneur | There are many people who make a good living from selling products online and if you would like to join them, your choice of product is critical. We advise you to carry out extensive market research on any product you are thinking of selling.
Here are a few ideas to consider.
- Health Related Products – The global trend for healthy foods is likely to be with us for a long time and with a product like concentrated fruit juice powder at Joozejuice, you are sure to have a lot of interested website visitors. Other health related products include health supplements and organic products, which should be 100% natural. Research the big wholesalers and crunch the numbers to see if there is a profit margin, while also researching the market to determine customer interest.
- White Label Cosmetic Products – There are special cosmetic manufacturers who will put their products in your packaging, which means you can create your very own product line and you won’t have to go through the long and expensive process of acquiring FDA approval, as the product is already approved. You should only choose products that contain 100% natural ingredients, as people are very informed these days and the majority would only use make-up that contains natural ingredients.
- Special Interest Products – This is ideal if you have a passionate hobby and a lot of knowledge about the products, plus it is a lot easier to penetrate a niche market than it is with something mainstream. It might be remote controlled vehicles, fishing equipment or even art that you create and if you have in-depth knowledge, this is an advantage. Of course, you do have to be sure that the chosen products are in sufficient demand to give your new business a good chance of success. Click here for a wide range of business blogs that might prove to be very useful in the future.
- Electrical Appliances – This is only feasible if you can manage to beat your rivals over price; when buying electrical appliances that are well-known, price is everything and if you have low running costs, you might be able to undercut the big suppliers. You might be worried that customers would be concerned about their warranty, but if you are selling brand name items, the warranty is provided by the manufacture, which means you can be competitive with the major retailers, if your prices are right.
- Designer Clothes – It is possible to create a line of designer clothing if you approach a wholesale garment manufacturer and you can add your labels and branding. The wholesaler would be happy to help you design your clothing range and they have the resources to make as many garments as you need.
Click here for information on setting up a business in Thailand, which is an essential step to keep things legal. Once you have chosen your products, you need to create a comprehensive business plan that covers every aspect of the business.