I really want to start an online business...but i really have no idea where to start. I want to start selling flashlights in canada, as there really arent that mayn dealers. But i dont know how to become a dealer, or gain reputation. Can someone who has done this before perhaps give me some advice? thanks!
What does it take to start online business?
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gadget_lover
Flashaholic
I've not done it myself, but I've worked with other companies that have a web presence.
I'm not sure which aspect you are asking about; To become a dealer you set up contracts with your suppliers. They'll usually want large orders, letters of credit, etc. Some companies give exclusive dristributor rights by geographical area.
To gain reputation you have to earn it by giving good service and good prices.
Sorry to not be of help.
Daniel
I'm not sure which aspect you are asking about; To become a dealer you set up contracts with your suppliers. They'll usually want large orders, letters of credit, etc. Some companies give exclusive dristributor rights by geographical area.
To gain reputation you have to earn it by giving good service and good prices.
Sorry to not be of help.
Daniel
gadget_lover
Flashaholic
If I were you.....
I'd look up the addresses for all the brands of lights you like. Most of them have web sites with contact information. It's up to you to call or write each one, explaining your desire to sell in some specific area (it sounds like Canada is your target) and asking that a representative contact you.
You'll have to research the import (and probably export) rules for your country. In the US a business license is usually required.
There are several areas that tend to cause problems at young businesses. Among them are:
1) understanding the tax rules for your location and following them.
2) Failing to realize the cost of building up inventory
3) underestimating the amount of work and time that goes into A)record keeping, B) shipping and receiving, C) accounting, D) idle customer inquiries.
4) failing to set aside enough cash reserve to get through the first year when profits and low to nothing.
Promoting an internet business is, well, strange. CPF has banner ads that you can buy into. There are various specialty oriented magazines you can advertise in. You will, of course, want to make sure that you supply your web site's URL to all the major search engine.
It really helps if you have some unique hook. You could, for example, commission a special light by Mr Bulk or McGizmo.
Good luck. Keep in mind that 4 out of 5 businesses fail in the first 2 years.
Daniel
I'd look up the addresses for all the brands of lights you like. Most of them have web sites with contact information. It's up to you to call or write each one, explaining your desire to sell in some specific area (it sounds like Canada is your target) and asking that a representative contact you.
You'll have to research the import (and probably export) rules for your country. In the US a business license is usually required.
There are several areas that tend to cause problems at young businesses. Among them are:
1) understanding the tax rules for your location and following them.
2) Failing to realize the cost of building up inventory
3) underestimating the amount of work and time that goes into A)record keeping, B) shipping and receiving, C) accounting, D) idle customer inquiries.
4) failing to set aside enough cash reserve to get through the first year when profits and low to nothing.
Promoting an internet business is, well, strange. CPF has banner ads that you can buy into. There are various specialty oriented magazines you can advertise in. You will, of course, want to make sure that you supply your web site's URL to all the major search engine.
It really helps if you have some unique hook. You could, for example, commission a special light by Mr Bulk or McGizmo.
Good luck. Keep in mind that 4 out of 5 businesses fail in the first 2 years.
Daniel
If you want to sell to CPF, start out by selling on the B/S/T forum and go from there. Otherwise, why not start out eBaying. Lots of seccessful people are running businesses through eBay. That is not a guarantee of success, but it is a realistic way to get started that won't throw you in over your head right away.
JonSidneyB
Flashlight Enthusiast
I don't know the laws in Canada but in the US one of the steps is a getting registered with the secretary of states office and a tax id number.
watt4
Enlightened
this link might give an idea or two http://www.entrepreneur.com/ebusiness/
idleprocess
Flashaholic
I'd suggest you talk to others that have started small sales businesses - preferrably niche markets that you will not be competing with. They can help you out quite a bit and let you in on some pitfalls to be avoided.
Draw up a good business plan for the first few years. This needs to be a robust plan that solidly establishes what you will do and who your customers are. I would suggest a roadmap that covers your first few years that has some branching built into it so you can decide how well you're doing. You also need some well-considered exit strategies if things do not go well.
Do some research with your sources. Find out what they require from you to be a retail distributor of product.
A good business plan would help immensely if you want to establish credit.
Put some numbers on your plan, like Success in year 1 is $X, marginal is $Y, failure triggering exit plan is $Z.
Be prepared to spend a great deal of time bookkeeping, recordkeeping, answering almost meaningless correspondence, negotiating with suppliers, and fretting competition. Retail is a ruthless business with medium to low margins.
Disclaimer: I've never started a small business myself, but I learned from the mistakes of a startup that I participated in and have read up on the subject quite a bit.
Draw up a good business plan for the first few years. This needs to be a robust plan that solidly establishes what you will do and who your customers are. I would suggest a roadmap that covers your first few years that has some branching built into it so you can decide how well you're doing. You also need some well-considered exit strategies if things do not go well.
Do some research with your sources. Find out what they require from you to be a retail distributor of product.
A good business plan would help immensely if you want to establish credit.
Put some numbers on your plan, like Success in year 1 is $X, marginal is $Y, failure triggering exit plan is $Z.
Be prepared to spend a great deal of time bookkeeping, recordkeeping, answering almost meaningless correspondence, negotiating with suppliers, and fretting competition. Retail is a ruthless business with medium to low margins.
Disclaimer: I've never started a small business myself, but I learned from the mistakes of a startup that I participated in and have read up on the subject quite a bit.
