Thread by @ThePsychofLifes

Unsexy Business Idea That Can Make You Damn Rich

(Not An Online Business, But A Real Physical Business)

=THREAD=

• Initial Capital Required: $7k-$10k (also depends on product)

• Time Investment: At least 3 years

• Profit Margins: Minimum 25% (Maximum 300%)

• Skills Required: Negotiation & Network Building.

What’s the idea?

Importing stuff from China.

I know many of you’re anti-china but listen to me, your country’s govt itself is highly reliant on China. In fact every big business is directly or indirectly involved with China.

The choice is yours.

How to start?

First of all select an item that you want to sell.

There are a few fundamentals for selecting a perfect item. These are:

• The product should be widely used.
• It should sell easily.
• There shouldn’t be much hassles about customer service.

Some examples of good products are:

• Clothes
• Shoes
• Watches

Now all of these are pretty common products.

Some uncommon products that sell good are:

• Machine Tools
• Hardware Stuff
• Household Products
• Door Handles

Choose your desired product & make sure you have good knowledge of the product.

Also it is advisable to perform a market survey before starting.

Analyse the market conditions, competition & problems.

Now for the sake of this thread, we’ll select a product from power tools.

Let’s choose a standard drilling machine. Here’s how it looks.

Firstly start with proper research for this product in your market.

Find out the specifications of the machine that sells in your market.

Find out the price at which it sells.

Find out the models which sell.

Find out the retailers & wholesalers for this.

Now you have all the information you need.

Start browsing on Alibaba(dot)com & find a couple of sellers for the product there.

Get price quotes from them for the model you need.

90% of the times, the price you’ll be quoted will be much more than the selling price near you.

Worry not.

Alibaba is full of fraudsters & scamsters now.

We need a reliable sourcing agent in China.

Just a google search will list you multiple sourcing agents with office in your city or nearby city.

Contact them & go through them.

Order a few samples first & package them in a separate box with your own branding.

Reach out to the retailers & wholesalers with your product & catalog (you can easily get one made).

If the product passes their requirement, take orders from them & place orders ahead.

In a few years time, your brand will be well established & you’ll earn good money.

A friend of my father started with this power tool business 10-12 years ago with very little money.

Today only the real estate he owns is worth more than $5-$7 Million.

This can be done with any product.

The only limit is you yourself.

Comment below if you have any further questions.