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business: fashion jewellery

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
tea4two
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business: fashion jewellery

Postby tea4two » Tue, 07 Nov 2006 9:49 pm

thought of starting a costume jewellery biz using the push cart. Anyone informed about the demand of costume or fashion jewellery in Singapore?

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ksl
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Re: business: fashion jewellery

Postby ksl » Wed, 08 Nov 2006 12:57 am

tea4two wrote:thought of starting a costume jewellery biz using the push cart. Anyone informed about the demand of costume or fashion jewellery in Singapore?


Well to be honest, it depends what you are actually looking for, if its money forget it! If its job satisfaction forget it! if its a hobby, it may keep you awake for an hour or two, Personally i would go back into hibernation until I was hit by a lightning bolt.

Surely you can come up with a better idea, lets seeeeeee!

Push Cart sales how about contacting people that really need, their products exposed and kill two birds with one stone, in a good position you could certainly approach many people, at the same time probably get your push cart fees paid and make money on the products you are selling or go 50/50 with a manufacturer of goods on the pushcart and get consignment status, until you build up a regular customer base.

You must go all out to try and minimise your risk not to lose money, so just because you do not know anyother product, doesn't mean you cannot find a suitable product, that will sell, Fast selling items are the best, because you are not sat on your bottom 11 hrs a day, getting bored.

The first couple of month I would also believe you would be out of pocket, at a minimum 50$ a day, you would have to shift some jewellery to cover your rent, pay yourself a wage, and whatever other costs are involved, have you actually worked it out?

PM me with your email address and i'll give you something to ponder over!

tea4two
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Postby tea4two » Thu, 09 Nov 2006 5:20 pm

hey ksl, have you been in this business before? seemed like you are quite informed!

Do you have any idea of how much it costs to rent a push-cart? I have been calling shopping centres but people ain't helpful! Okay, regarding your suggestions :
"Push Cart sales how about contacting people that really need, their products exposed and kill two birds with one stone, in a good position you could certainly approach many people, at the same time probably get your push cart fees paid and make money on the products you are selling or go 50/50 with a manufacturer of goods on the pushcart and get consignment status, until you build up a regular customer base."

This sounds absolutely brilliant but what are the products that needed be exposed but have not yet been exposed?, why have they not been exposed?

thks for your insightful view!

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ksl
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Postby ksl » Thu, 09 Nov 2006 5:58 pm

tea4two wrote:hey ksl, have you been in this business before? seemed like you are quite informed!

Do you have any idea of how much it costs to rent a push-cart? I have been calling shopping centres but people ain't helpful! Okay, regarding your suggestions :
"Push Cart sales how about contacting people that really need, their products exposed and kill two birds with one stone, in a good position you could certainly approach many people, at the same time probably get your push cart fees paid and make money on the products you are selling or go 50/50 with a manufacturer of goods on the pushcart and get consignment status, until you build up a regular customer base."

This sounds absolutely brilliant but what are the products that needed be exposed but have not yet been exposed?, why have they not been exposed?

thks for your insightful view!


I have lots of experience in survival skills, the main one is not to fall head over heals, with fashion or anyother product, let others do that! Fall head over heals with using your brain, to make money, if you like a new product that comes on the market, it's new untested and needs a great deal of money used on marketing exposure, then you have something to negotiate with, your instincts and feedback from others will give you the confidence you need, to go one step further, to minimise your risk.

Once you have a product test it, on a few friends, maybe 10 or 20 people, if you get some decent feed back, it may well support your own instincts. i would want at least around the 50% positive feedback mark on a small sample of people, before going ahead, and dropping the product with a feedback of 35%, with a 50/50 chance of survival its worth the risk, anything below that, means you are likely to have to work hard on the selling and convincing.

Althougth a small group is not a true response to how the market will react to your product, you have to look at it from your investment point of view, if you are only paying half rent, and nothing for your product, it could mean, that the supplier does have more faith in his product than you do. Normally a large test area of 1000,s of people would be done, or evidence to support a product launch is feasible.

Of course consignment is also a line of credit and is soon stopped, if what agreed on is not implemented and because it is a credit, your profit margin would be lowered, the insentive is to purchase the product at wholsale price, if you want the profit margin, business should be based on integrity, and dual respect.

I do have a business education, and i know my strengths & weaknesses, I'm not a good sales person, because i'm too charitable! Although I can identify problems within a loss making business and I have the creativity and level headedness to act before it's too late.

My suggestion is to pm me, with your email, because I am not allowed to discuss what i do, it is then classified as advertising and the post would be deleted. But I will say, that several locals are now working on their own business venture now, with our product. we are importers, so we have already done our home work on what sells and what doesn't, and we have alot more to lose, than a couple of 1000$.

So you can see the importance of market research to evaluate the market.

tea4two
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Postby tea4two » Sun, 12 Nov 2006 9:23 pm

ksl,

having problem pm-ing you as Im a newbie.... why don't you pm me?

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Postby Plavt » Sun, 12 Nov 2006 9:55 pm

tea4two wrote:ksl,

having problem pm-ing you as Im a newbie.... why don't you pm me?


You need to make at least 5 posts, this is prevent spam.


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