How to choose YOUR home business, doing your research
February 6, 2008 at 2:09 pm | In Starting Out |Tags: candle companies, choosong the right business, Mia Bella, working from home
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When you google in home based business, you get a least 1000 answers. Here are some questions you can ask youself to narrow down your search:
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Do I want to sell a product or service? Do I want to sell anything at all?
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Do I want to do home parties, online sales, EBay sales, Vendor Fairs, etc.?
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What kind of products are you interested in selling? Jewelry, candles, make-up, home decorations, lingerie, the list can go on forever
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Do you know people who would purchase these products from you?
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Is there a large demand for the product you want to sell?
So for the sake of example lets say you narrow it down to candles :).
You find some companies sell candle accessories as well as candles, others sell soaps and lotions as well. Those things may be plus for you.
Look at their prices on their website and ask yourself “Would I pay this price for a candle?” If you wouldn’t then don’t expect someone else to. But, also keep in mind what the candle is made of and see if you may want to test one out. You may find that you enjoy their candles even though the price is a bit high.
If you are interested in the candles they offer, you should buy one to test out.
Test the quality of the candle. Here some things to look for in a great candle.
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Virtually soot-free, there should be very little soot on the jar while burning the candle
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Should burn evenly all the way to the bottom of the jar (getting you mony’s worth)
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If it is 16 oz or more, is it double wicked?
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Does the smell last all the way down to the bottom of the wax?
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Is the packaging appealing to the eye? Does it make the candle stand out?
Compare it to a bargain store candle. Compare scent-throw, the way the wax burns, soot, residue left on side of the jar,everything.
If you do decide to sell a product that can be found anywhere and everywhere, which candles are, people are going to ask you what makes your products different. Why should they spend the extra $5 on your product?
In order to answer that, you have to compare the 2 products and know with a doubt that you would definitely pay the extra $5 or more for your product over a bargain store product and why.
Now, I know many people have boutiques and make handmade clothes and toys etc. but for a product to get the attention of bargain shoppers it needs to have more going for it than, “Its handmade or homemade”. Keep this in mind when looking for a company. Homemade doesn’t mean quality made.
Also, how long did it take for the product to get to you? What was the turn around time? It shouldn’t be longer than 7 days in America and 2 weeks is pushing it. I have heard many women say they were amazed at how fast certain candles got to them when they ususally had to wait 2 weeks or more.
If you are still interested in the company after all this, then look at their compensation plan and wholesale discounts. Make sure you are able actually make a profit off of their product.
Ask around on forums about the companies reputation, see how long they have been around. Usualy 5 years, is a nice amount of time. Make sure there are at least 1,000 distributors, to see if they are stable. I wouldn’t get in on a ground floor opportunity, due to so many companies crashing and taking people’s money.
If all systems are a go, then go for it! Ask for more information and see if that company works for you!
Jarmelia Ladson
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Hey Jarmelia,
Some good solid tips, in your post!
I think one of the strong points of starting your home business is to identify your core passions, and then go from there with the research.
If you have an interest in what you’re doing then you’ll have the extra drive you need to help you move towards success.
We all hit bumps when starting and running a business. So, if you’re doing something you love, and you hit a bump, you’ll focus on solutions if you’re doings something JUST for the money and you hit a bump you’ll look for way’s out!
Acey Gaspard
A Touch of Business
Comment by Acey Gaspard — February 7, 2008 #
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Comment by Anonymous — February 7, 2008 #
Good info. and read. Will be back soon to read more of your information.
Thanks,
Dean
Comment by Dean Calvert — February 10, 2008 #