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Thread: Newbie

    1. Andy baldwin is offline

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      #1

      Newbie

      HI all,
      Ive decided that after 25 years of making money for someone else im going to try and make myself some so at the moment im reading up and deciding which route to go down ive got a few hobbies and I think as ive knowledge of them that might be the best way to go.

      So as i will be posting regually for advise I thought I'd better introduce myself so her goes Im 40 years young a crane driver by trade and im into motorcycles and sport so there you go short and sweet Oh yeah I live in the north east in the U.K.

      So please feel free to say hello and any advise would be greatly appreshiated (as you can see not very good at spelling).

      Thanks,
      Andy
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      #2
      Hi Andy,

      Welcome to Wholesale Forum

      If raising finance for your business is not an issue, then choosing a market segment that you are passionate about is by far the best strategy.

      The best suggestion is to brainstorm the motorcycles and sportswear sectors, subscribe to industry related magazines, use Google Alerts to keep up to date with the latest news about your chosen industries, and then try to predict and therefore anticipate trends. The better you can anticipate a demand, the more margins you can make, because when a trend is new mark ups tend to be higher (for as long as the trend doesn't become mainstream).

      Having said this, there is also money to be made from being a specialized retailer in your chosen industry, however that will take time, marketing, a constant review of your logistics, and economies of scale that only come with time.
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