Hi Everyone

[TimE]

Hi All,

I am a new starter on ukbusiness forum. I am going to start as I mean to continue with a cry for help!

I am looking to set a new business - an online cycle parts business. I have some wholesale accounts already but they are not the cheapest which doesn't leave a huge margin when prices are compared to sellers on ebay etc. I am therefore looking to source new suppliers maybe in the far east. Can anyone help me please as this is a very daunting prospect and obviously quite high risk!

I am planning to stay away from ebay as their fees are high and am in the process of getting a web site up and running which I intend to use adwords to attract customers.

The plan is to start small and build up in time.

Thanks in advance for any help and advise.
Tim

 

[benjamin_c]

sounds like a good plan, and cycling fits in well with the current economical climate as people may be choosing to bike instead of drive due to rising fuel/living costs. saying that i'll always choose my car due to lazyness lol but hey,

i'd recomend going ahead with your website like said but also create a ebay business account and on each listing link to your website and create an 'about me' section on ebay, will be a good way to gain customers, also get some nice flyers printed up (i'm sure somone on this forum could help with that) and send one out with each ebay order and put a voucher code in the flyer something like (£10 off first order over £50 from your website) this will encourage people to come visit your webisite and create an account may be a bit of a loss leader at first but it could build a solid customer base

good luck

 

[TimE]

Hi Benjamin C,

Thanks for the response and so quick!!

Like the idea of vouchures, I was also thinking on the web of discounting for higher value purchases. As I say I want to build up over time and creating a loyal customer base will be important. I also plan to email market to all cycling and triathlon clubs.

Hurry for any more good advice .........

 

[benjamin_c]

well i'm no expert, i just read a lot of business books ect

as you'er going to be starting small and only dealing with a small number of customers in the early days you will have to try to give top notch service and try to get a good business relationsip with your customers as the big places like halfords are going to be hard to undercut in pricing so you will have to offer value added service as a unique selling point, maybe giving customers who buy a bike a phone call a week or so later asking if their happy ect just to make them feel valued and ask if there's anything else you are able to do to assist ect, this could encourage them to tell friends+family about (how great and professional your service is )

another option could be offering rewards to customers for refering new customers, ie simler to the *tesco club card system* for every £1 a refered customer spends the person who refered them gets a point to spend in your online shop

send some advertisment material to colleges and universities also as many students who can't afford to drive cycle and by offering x% student discount could again get you many customers,

obviously these are just ideas and may not be suited to how you want your business to work but i'm sure you could adapt some of the ideas into ideas that work for you and your comapany

 

[Connexions]

hi, welcome to UKBF

 

[red-source]

Hi Tim, welcome to UKBF. Its a very help and friendly resource.

If your serious about importing from the far east and have an idea of products and numbers, drop me a PM and I will be able to give you an idea of prices etc.

 

[Wavecrest Ltd]

Hi there - welcome to the forum. If you do find any suppliers in the Far East and need help with shipping, customs clearance etc please keep us in mind. If you need any advice please feel free to send me a PM.

Best regards,
Glen

 

[BusinessIdeas]

Hiya Tim - Gina

 

[Chris Kaday]

The plan is to start small and build up in time.

Is that a written plan then?

Chris Kaday
Business Coach

 

[TimE]

Hi Chris,

The plan is in its infancy at the moment and not as yet been committed to paper!! Still working on the principal with lots of helpful of advise from UKBF already.

Tim