Things have a way of happening, I hope everything came out OK. Another thing I thought of is how to quantify the inherent unknown of "Will anybody even like what I have to sell?"
Worst case scenario, I'm out a couple grand in materials and incorporation fees. Undesirable, but I'm not staking my entire livelihood on it.
N
Things have a way of happening, I hope everything came out OK. Another thing I thought of is how to quantify the inherent unknown of "Will anybody even like what I have to sell?"
My philosophy has been, the Corn-Rocs went like hotcakes, maybe a few other kits will sell as well. I can spend the rest of my life wondering or give it a try and see what happens. Worst case scenario, I'm out a couple grand in materials and incorporation fees. Undesirable, but I'm not staking my entire livelihood on it.
N
I applaud anyone who tries to start a business, especially today. You have an idea or product that might make some money and you may enjoy working with, and you have decided on how much "risk" you are willing to take and can afford, as well as how much effort to give and you are willing to accept the end result. That is great start!
As with most threads to public forums the original topic is now somewhat skewed. If we're going to actually talk operating a buisness, as opposed to simple market sampling on TRF, from a professional stand point, my profession being that of helping people start buisnesses everyday, from original idea or concept to healthy employer and growing business, including financing and servicing, if we're going to talk serious business, then let's talk about athe basics; a mission statement, business plan, marketing plan, market research, capitalization, inventory control, etc.
To date I have not actually worked with anyone wanting to go big time with a hobby shop and in the current business climate I do not recommend it, but regardless of whether you want to start your own mom & pop or Hobby Lobby those same basics and others are needed to start and operate a successful business.
Getting back to my first post about "cottage industry" and a very pin point market sample as in TRF, YORF, RP, and as part of individual enjoyment of the hobby and as a small kit to kit effort from one flyer to another, it might be effective, it might not, that's why I asked if anyone had done it. No one can answer accurately unless they've made a controlled, documented research effort.
If anyone wants to one day grow from your den or garage to a store front or sell to chains and expand greatly, then my advice to all is start from square one and do your home work. For those looking for a great starting point I'll list my company's website and the SBA websites below. From there you can learn about how to start or grow your own business and get tips on what to do and what to avoid.
https://www.alacom.com https://www.sba.gov/ Check out the small business planner.
Verna
www.vernarockets.com