How To Create a Business Selling Physical Products
How to Create a Business Selling Physical Products
How to Create a Business Selling Physical Products: If you’re looking to improve your lifestyle by working online and achieving the kind of freedom that that can bring, then there are plenty of options available to you in terms of the types of businesses you can start. Pretty much any service that doesn’t require you to be physically present can be delivered online and then there’s the option of running a blog or a YouTube channel.
The Easiest Way to Start Selling – Reselling
The most obvious way to start selling products online is to buy them and then sell them at an inflated price. This is a simple method but it does mean you need to be able to find the products for that reduced rate – and the easiest way to do that is by buying them in bulk.
Buy a pack of wholesale clothes or blank CDs for example and then you can sell them online individually for a little more money.
The problem that most people see with this, is that they have to make that initial investment by buying the wholesale goods. They then worry that they may be unable to shift their products and that this will leave them with unwanted inventory and at a loss.
Fortunately though, there’s no need to go this route. In fact, you can start out by buying just a few items – either buying just one product to start with in small quantities or by buying multiple products but only in small quantities. This is a great strategy in fact because it allows you to test the market and then buy more of whatever’s selling/making the most money.
You then simply reinvest the profits you make into buying more and more stock – meaning you can never lose more than you’ve earned.
Crafts and Homemade Products
Another option is to create your own products. If you are skilled in any type of craft, whether that be painting, sculpting or making jewelry; then you can use this skill in order to create items that you can sell. Start out on eBay or Etsy and have a website of your own to build your brand over time.
This is an awesome option if you have a hobby like that because it means that you can make money from doing what you love!
The big problem with all these models is that they all tie you. In each case you need inventory and that means you need storage – not ideal if you want to travel.
Instead then, consider dropshipping. This effectively means you’re selling someone else’s product but they’re remaining behind the scenes. So they will manufacture the items and even be the ones to handle fulfilment but you keep a large slice of the profits. Better yet, dropshipping is ‘whitelabel’ meaning you can brand what you’re selling with your own logo!