forceflow17
05-14-2007, 01:35 PM
So, I'm 16, and I work with my dad on his construction company,(which is me, him and my brother) and i started thinking, we are in America the land of free enterprise; i should start my own small, partime, online retail buisiness. I would like to try to get accounts so that I can order equipment at cost from all the major golfing equipment companies,(titleist, taylormade, mizuno etc...) and operate my buisiness over eBay, and maybe eventually get my own website were you can view my inventory, and buy from there. Stupid? Or do you guys think that I maybe have a chance?(this isn't in the garden, but i would also appreciate prayer on this matter, since i will be praying about it)

p.s. Any ideas for a name?

terrasin
05-14-2007, 02:40 PM
Cept the business would have to be in your dads name since a minor can't own a business. Other than that, it might work, though ebay is already flooded with people who do that.

The first thing you need to do is know the competition. It's becoming harder to own your own retail website because mega corporations can afford to make next to nothing or take a loss over a certain amount of time before they actually begin to turn a profit. For example, musiciansfriend and sites like it can sell at the lowest possible costs to consumers for several reasons such as agreements with product companies because they hold such a large market share and are able to buy much more than an average market would and store it in their storage facility until the product moves.

More and more mom & pops stores have begun selling on ebay which has pretty well flooded the market there with every type of product imaginable. And what is happening is that, to be able to keep up, a lot of them have had to take a loss on products. Not only that, but if they auction them without a buy it now, there is a chance for major loss on a product if there isn't a high market for it.

Consider and weigh options.

CJ

forceflow17
05-14-2007, 02:44 PM
i have looked, and actually most of the golf clubs sold on ebay are sold used by individual owners. my dad would be cool with the in his name till i turn 18 part. also, i dont have to make any kind of large profit. i already have my job, this would be like a part time, on the side type deal. let's call it an investment. if i can sell 3 or 4 drivers, wedges, putters, irons etc a week at 10, 15 net profit, that just that much mor money i make a week, and it could eventually grow into a full buisiness. thanks for the input

skynes
05-14-2007, 02:49 PM
^ what he said, lol.

As for a name: Putters Paradise?

forceflow17
05-14-2007, 02:51 PM
had a friend suggest this, what do you guys think of goodgolfprices.com? (this ya know if i get the buisiness started)

The Lamma
05-14-2007, 06:34 PM
Not only that, but if they auction them without a buy it now, there is a chance for major loss on a product if there isn't a high market for it.

But there is such a thing as setting a reserve on the bidding. Doing so makes it so that if X amount of dollars aren't placed in the highest bid, it doesn't sell. You can also do buy it now and bidding on the same item.

Have you considered doing a shop in town? I don't know where you live, it may be big or small, but there might not be many golf shops around. You might want to do some research on that.

terrasin
05-14-2007, 06:56 PM
But there is such a thing as setting a reserve on the bidding. Doing so makes it so that if X amount of dollars aren't placed in the highest bid, it doesn't sell. You can also do buy it now and bidding on the same item.
Reserves are not smart if you're running a shop. You end up not selling the majority of your gear because no one ever pays the price you want them to pay. ;)

CJ

The Lamma
05-14-2007, 07:04 PM
Still, you can do it. And most shops I've seen on eBay (i almost got a Wii from a wholesale shop) are buy it now, and have a special stock counter on the item post.

skynes
05-15-2007, 03:47 AM
goodgolfprices.com

sounds like a spam-oriented porn shop, lol.

Too many good---prices.com sites. A lot of them are fake too.

forceflow17
05-15-2007, 08:32 AM
Have you considered doing a shop in town? I don't know where you live, it may be big or small, but there might not be many golf shops around. You might want to do some research on that.

the town i live in has maybe, 250 people. the next closest big town, which is bentonville has plenty of shops. it would need to be online because i still will be working for my dad. i plan on starting very small, selling 5, 6 clubs using the profit to buy more to sell, and use it just as a part time money maker. it might eventually get big, who really knows, but not any time soon. as for profits, lets consider the new titleist 907 driver. it sells for around 400$ in stores, and i think people ordering straight from the company, (which i would be doing) only pay like 180$. i would only be able to under price the shops by so much, because all the companies have what is called a m.a.p.(minimum asking price) and would warn me once then jerk my account if they caught me selling under it. disregard what i said about net profit in erlier post. it would be more than that.

The Lamma
05-15-2007, 11:23 AM
Some people sell wholesale prices, which is the price the manufacturers sell for. You could do a price a bit higher than that, but don't buy too many clubs to start!!

forceflow17
05-15-2007, 01:38 PM
if i sell just over wholesale, which is way under the map(minumum asking price) my account will get jerked if they catch me.

terrasin
05-15-2007, 05:06 PM
the town i live in has maybe, 250 people. the next closest big town, which is bentonville has plenty of shops. it would need to be online because i still will be working for my dad. i plan on starting very small, selling 5, 6 clubs using the profit to buy more to sell, and use it just as a part time money maker. it might eventually get big, who really knows, but not any time soon. as for profits, lets consider the new titleist 907 driver. it sells for around 400$ in stores, and i think people ordering straight from the company, (which i would be doing) only pay like 180$. i would only be able to under price the shops by so much, because all the companies have what is called a m.a.p.(minimum asking price) and would warn me once then jerk my account if they caught me selling under it. disregard what i said about net profit in erlier post. it would be more than that.

The main problem with starting a business like you want to do is with volume and the companies themselves. In order to get the low low prices, you need to be a dealer. In order to become a dealer, you need to show the company that you can move a good amount of volume. But even then, larger companies already outshine you because they buy the product for $180 from the company, and can afford to sell it at $185-$190... or if you're amazon.com, $180. :P It really depends on the company you're dealing with as well. Some have certain requirements that others don't. The best way to find out is to talk to the company first hand.

I don't mean to sound discouraging here, though I'm sure it seems that way. I've owned several businesses since I was 18 and have had to go through the process for several different types of companies. One of the better things you can do is contact your local non-profit economic development organization and discuss putting together a business plan.

Most companies that are created each year fold within one to two years because they don't do their homework. Keep that in mind if you're going to step forward.

CJ

The Lamma
05-16-2007, 11:21 AM
if i sell just over wholesale, which is way under the map(minumum asking price) my account will get jerked if they catch me.

I guess I know nothing about MAP...Haven't heard about it before, either.

forceflow17
05-18-2007, 04:31 PM
I guess I know nothing about MAP...Haven't heard about it before, either.


this is where the companies you buy from require you to sell their product for no less than a certain amount. for example, a titleist vokey sandwedge, you are required to sell for no less than 110$, or they close you account with them.

The Lamma
05-24-2007, 12:14 PM
Why would they care if you already paid them? Or do they a percentage of the profits?

forceflow17
06-01-2007, 09:35 AM
they dont get a share of the profit, yes you have already paid them, but none the less(for some unknown reason) thye will deactivate your account if you sell for less than they say you can

The Lamma
06-01-2007, 10:53 AM
That is really weird...