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Old 20th September 2010, 09:29 PM   #1
Minatin
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Arrow How About Selling Electronic Products

I want to start my own store to sell electronic products. Do you think that it is a good idea? I can make profits?




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Old 21st September 2010, 11:27 AM   #2
BeTheBest
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That's a wide open question. Profits?? Do this. Start by making a list of ALL your overhead expenses. That will include rent, electricity, phone, etc. All the bills that have to be paid EVERY MONTH.

Then, try to determine the profit on the average sale. You don't mention what type of electronics, but I have to think that in today's market, margins are really small.

So now, how many of those AVERAGE sales do you have to make TO COVER THE COSTS?? That's before you make money.

That's a start. The rest of the quesitons have to deal with where? how big a store?? all that... but that can come later. Figure your FIXED overheads first. That will tell you a lot!

Good luck!

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Old 21st September 2010, 11:43 AM   #3
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Are you thinking of an independent store? Where are you located? What is the "big box" competition in your area? Where are you getting your supplies from?

Those would be my first thoughts when considering the idea.

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Old 10th October 2010, 02:03 PM   #4
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First of all where are you located? What kind of electronics? Who else is in the area? The specifics of these types of questions are usually more important than the business you are going for.

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Old 27th November 2010, 09:21 PM   #5
aimtoplease
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Minatin,

In answer to your question - the answer is NO. The web is full of sites that tell you that you can get rich selling electronic gadgets of all sorts either on Ebay or offering to set up a web store for you.

They are not being truthful - you cannot compete with the huge vendors (either online or in Big Box stores). You cannot compete with Best Buy and you cannot compete with the big sellers on Ebay.

The only one who will make money off of this idea is the unethical company selling you this bill of goods.

The most important thing you must do first is take the time to learn and understand how business works. How much it costs to make a profit (much more than you might think). If you understand these things, as some here obviously do, then you will be able to weigh what is good and bad for you.

Don't rush into anything - learn first! I wish you all the best

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