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Old 05-12-2010, 12:37 PM   #1
bradsbabymama
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Info on opening a store?

Hello. Currently I am a stay at home mom of a 2 year old girl and expecting a new baby in Sept. I am a huge fan of cloth diapering as well as promoting canadian made products. For quite a few months now I have been thinking of opening an online store, and much to my chagrin, a few other 'store' owners I have contacted for info, don't seem to want to give out some basic info on how to get started ( I guess they are somewhat afraid of a new competitor, not really sure .. ) anyhow, I am hoping some of you on here would be so kind as to maybe help me out with some info on getting started and basically what I NEED to get started? All advice would be very helpful, thanks!

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Old 05-12-2010, 02:35 PM   #2
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Re: Info on opening a store?

Have you tried the WAHM area, they will most likely have the most information at hand.

Some of the basic starting points to think about:

What do you want to do / sell, how much competition is there, what is the market share you may be able to claim, what’s the mark up on your items

Estimate start up costs – website design and hosting, advertising, business licenses and fees (name registration, incorporation if going that way)

How much can you personal invest, will you be able or do you want to get a loan for the remainder?

How much time can you invest in the business?
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Old 05-12-2010, 04:52 PM   #3
bradsbabymama
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Re: Info on opening a store?

Thanks for your response.. I tried to post in the wahm section, but for some reason, I am restricted.
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Old 05-17-2010, 05:02 PM   #4
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Re: Info on opening a store?

I would also start by contacting some of the companies whose products you want to sell. Find out if they have minimum order amounts, what the markup is, shipping info, etc.

Good luck!
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Old 06-08-2010, 07:28 PM   #5
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Re: Info on opening a store?

To be very honest it's quite a difficult thing to get into. You first have to establish a website before most wholesalers will talk to you so look into the cost of that. I recomend finding a web designer that will help you design something you can maintain on your own. Expect start up costs to be a minimum of $5000-10,000 to get well stocked etc. Also keep in mind when ordering from the states some diapers like BG's are made outside of the US so you have extra customs costs on top of your initial order. You will need an import/export number but not a tax number until you are grossing over 30,000. You most likely will not make a profit in your first year or more, there is a ton of competition out there and it takes a long time to get established online and have people finding you. I actually find I sell more locally doing free in home consultations than I ever do online. It's a very slow business and you need to be able to promote like crazy and dedicate a minmum 1 hour a day to maintaining your website and working your business. If you have any questions feel free to PM me I'm not really afraid of competition but I am honest it's not easy, it is stressful, and it's going to take a long time before you actually start making money with it. Good luck.
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Old 06-17-2010, 07:36 AM   #6
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Re: Info on opening a store?

In order post in WAHM section you have to already be a WAHM and pm the mod. I think the previous post has great info. It is a lot of work selling on-line, and I only have a store on Etsy...Good luck!
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