Loading...
Answers
MenuFeedback if this idea has a business model and can be profitable?
A service that lets you try high end items before you buy. So example speakers or TV or drones, you get to try them for a week and then decide if you want to keep it. If you do you're charged the price of the item, if not you can return it for free.
My idea was to charge brands for the service and handle fulfillment and we keep a % of sales made.
Answers
Interesting, but why would the brands need you? If they're offering a few days/week free trial period, they can do this directly?
Also, it's a bit of a complicated model (logistically). What is more common, is that some companies lease out products: you pay per day/week/month, and then, if you want to keep the product, you pay the difference. If you don't want to keep it, you give it back (and you only paid for the time you used it).
Good luck
I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david
A couple of years ago I had a similar idea as you.
I want to share with you a lot of obstacles that you would encounter
good idea and great business model for selling quite a complicated topic and I have a lot to tell you . I would like you to contact me.
I've had the opportunity to develop marketing strategies for various e-commerce portals offering similar kind of services.
Bitter truth : there are 1000s of service providers like that. Some even offering Jets on trial basis! It can't get more high-end than this.
Alternatively : You could create a better impact by narrowing your choice of items (and thus creating a niche for your business), complimenting your offering with value add services and/or creating FOMO through exclusivity (Ex: get to use latest model 3 days before official launch)
I'd be happy to help you further over a one-on-one discussion and devise a more robust plan of action.
As had been said in previous posts, there are already ways by which customers can try products before committing fully such as leasing them, then paying the difference to make the purchase.
This happens in both the automotive and tech sectors and many others. Depending on where your business would be based, some countries such as the UK have a 'cooling off' period where people can return a product they've bought.
The other area that needs exploring and that I'd question is why a Brand would pay you, as there is no clear benefit from doing so.
It's good that you've thought about this though, and I'd recommend maybe developing the idea, or coming up with similar but different ideas or other ideas. Entrepreneurs and Innovators have to challenge the status quo so your way of thinking is good.
I am a Professor in Entrepreneurship and Innovation as well as a successful Entrepreneur myself and have helped hundreds of companies over the last two decades with help and advice. I would be happy to discuss your ideas or plans and the best way forward with you or others any time.
I'm new to Clarity but you can check my LinkedIn profile here https://www.linkedin.com/in/jeremyspiller/ and if you do schedule a call, please send me a Summary of what you would like to discuss beforehand so I can prepare properly.
I could see this concept working and getting lot of attentions, but I'm not sure how you could make it profitable with all the returns and exchange to handle.
+ Shipping cost are very high for large items like TV if you pay for them.
I would suggest you read the book on Zappos for some comparable example of customer focused business
Related Questions
-
How do I sell iPhone cases and make a profit out of them?
Selling any product including "iPhone cases" on websites with high competition like Ebay is surely not an easy mission. There are hundreds of sellers on Ebay and other websites who are already selling cases. If you need to get some sales, you need at least one of the following: 1. High reputation, reviews or feedbacks on the website that you are selling on. 2. The product that you are selling must be unique in some way or simply not found anywhere else. 3. If your products are featured at your own website, then that website of yours must be ranked properly online and marketed decently around social media networks. In your case, a possible approach would be to create your own website to sell your products on or work as an affiliate marketer for other big sellers in exchange for commissions. Depending on your budget, you need to draw the right plan around. If you have a good budget to invest in your business, then creating a website for yourself is a must. Otherwise, you need to rely on other websites and seek to provide unique or special products to get an edge around. Hope that helps!
-
Why don't small business retailers have e-commerce stores on their websites? How do I show small business owners the benefits of e-commerce?
I live in Brooklyn, NY, which is a really fertile ground for small business retailers. My experience speaking with a lot of the shop owners is that they simply don't have the resources to maintain an online presence. Just keeping the brick and mortar operation running consumes most, if not all of their time, especially if the are also creating and producing their own products. For many that I do see take a shot at e-commerce retailing, they may get Shopify/Squarespace site set-up, then just run out of steam to keep it going. One innovative, in-between approach that I've seen one of my favorite shops take, is to actually focus on using a single social media channel, Instagram, and maintain an e-commerce function through it. (See @peopleof2morrow on Instagram)
-
What are average profit margins in Ice Cream store business?
Hi! I am owner of an ice crean chain with 45 stores in Chile. We have stores in shopping centers, streets and also karts that you can put in events and parks. The average cost margin of ice cream (depends on the amount of materials you use in producing the ice cream) is around 40%. This is italian gelatto where you serve the ice cream without a specific measurement so your costs can vary due to the size of each portion you serve. About the brand you should focus on your unique value proposition and what kind of ice cream you are selling. We import the pastry from Italy and the fruits and milk from our country. Your ROI depends on your sales price and costs. If you focus on high market ice cream you can charge high and keep costs down.
-
What are the demographics for people who shop at Costco and other wholesale clubs?
COSTCO AFFLUENCE: You might be surprised to know that 54% of CostCo's Wholesale Club (CWC) members are considered wealthy, or "affluent", with only 15% just "getting by" or "poor". BUSINESS VS CONSUMER: Approximately 24% businesses, 76% individual consumers. Even though business customers drive about 60% of CostCo's revenue, about half of that is for home use, so it's about 30% business revenue and 70% individual consumer revenue. HOUSEHOLD: 35% of CWC members have 2 person households. 56% have three or more in their home. I have a ton of paid tools at my disposal for market research. For much more detail on other demographic data for CWC, along with info from BJs and other wholesale clubs, set up a call with me on Clarity.
-
I started an all natural dog cupcake business w/ my sis that gained popularity fast, but we don't know what the best business model is for us to grow?
Having 4 dogs and being a former sugar addict, I love the idea of dog cupcakes, kudos! My wife and I are currently solving a very similar issue with her t-shirt business. We don't have a freshness issue to deal with like you do, however we do have a scalability and growth issue that we are tackling. Understand, there isn't really anything that remarkable about dog cupcakes, it's cool concept but it would be very easy for someone to deconstruct and create their own recipe and brand. So you'll need to focus on how you sell your cupcakes. What value you offer your customers? Why your recipe is unique? Is there any portion of your product, formula or service that could be trademarked or patented? Do you have a memorable name, tagline and mascot? Are the health benefits to your product? I know that in some cases pet food can be highly regulated so you may not be able to make specific health claims. Next, I think you should look at a three pronged approach that is scalable: 1. Continue to develop your local market, treating it like a test kitchen. Work on new recipes, concepts, products, ideas and test them locally. Build a unique product line and a unique system for creating those products. 2. Develop a strong network of pet owners, pet shops, boutiques, organizations and so on. 3. Market your dog cupcake system and sell it as a turnkey package. This could be as simple or as fancy as you want to make it. The simple way would be to sell one time "starter package" with upgrades on a subscription model. This would include order forms, marketing plans, marketing materials, new product ideas, training videos, shopping lists, ingredients and so on. The expensive way would be to lawyer up and create an actual franchise but this can be very very expensive. I hope this was helpful and I'd be happy to work with you further on developing your business. Good luck and I look forward to buying Sadie, Charlie, Nixie and Sachi some tasty treats from you in the near future!