Today’s economy places a lot of question marks above people’s heads. Should I continue to work at the company I work for even though they are reducing the employees and the salaries? Will I be able to set up a home business in these somewhat troubled times?
One of the safest bets you can make if you want to work from home is by establishing yourself in the world of cheap electronics.
During the last decades people have become more dependent on electronics and electronics also play a big role in the western forms of entertainment.
Because new sorts of electronic devices keep appearing on the market, dealing in electronics is a wise choice if you want to set up your own private business.
In Europe alone in example over 100 billion Euro’s were spend by over 100 million Europeans on online retail in 2006 according to the statistics from Forrester.
Between 2003 and 2005 the total amount spent by Europeans on online goods grew by 50%. The forecast from Forrester also says that the amounts will likely continue to grow with a rapid speed through the coming years.
It will probably not come as a surprise that over 10% of the total amount of 100 billion Euro’s spent on retail in 2006 came from purchases of electronics. This means that over 10 billion Euro’s were spent on electronics in Europe alone!
Those figures don’t only sound exciting, they are exciting and thanks to the large volumes of cheap electronics coming out of China these days it is very possible to buy products for a low price and sell for a very very high price.
And, as you are selling products online setup costs are minimal making the actual take home profit even higher.
But how can you find wholesale electronics companies that can supply the cheap electronics that you need.
In previous years you might have had to buy a ticket to China, meet with a whole lot of suppliers and then order a container load of an item.
Recently though things have gotten easier and there are many wholesale dropship companies online that will happily supply you with all the cheap electronics you need in small lots, and even one piece orders. Some will even send items directly to your customers.
To ensure that you’re getting a good deal you need to check out both the wholesale supply company AND the product you are thinking of stocking.
Questions you should ask the supplier include:
*Do you hold your own stock?
*Do you have a QC process?
*Do you provide delivery and/or product warranties?
*Who else has used you, where can I see reviews of your service?
Things you should be wary of with products include:
*Whether or not it will work in your region
*The types of warranties it carries
*Whether or not it is a counterfit of a brand name item
*What the price is compared to similar items on the market (eBay is a great place for price comparisons)
If you have several similar items that you are considering buying it is a good idea to do a price comparison of all of them.
However, it is usually a good idea not to take the cheapest option as that supplier may not be providing you with the best level of service and quality control which will leave you and your customers unsatisfied.
Quality control programs and shipping and manufacture guarantees are so important that it is usually worth paying what looks like a premium for a company that provides them. This way, if there is a problem with their product they will refund you and you can keep your customers happy while not loosing any money in the long run.
So how do you do a price and services comparison?
The best way to do this is with an excel sheet.
Head up columns in the column section:
Each product goes into the rows and gets graded according to the criteria that you have set.
The real cost of buying/listing the item can then be seen and you can make an informed decision.
Once you have found several or even one company that has your interest you could order one piece of electronics to ensure that the quality is up to scratch.
If you are seriously looking for a business opportunity that has high pay outs then you have found your match.
More and more people are making their purchases online and if you can offer quality products at reasonable prices and advertise your products you are just a few steps away from making it big-time.
So what are you waiting for? Get out there now and start looking on Google for the electronics suppliers that are sure to be your next step towards financial freedom.