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---Opinions needed on small investment---

  • 24-03-2011 8:12pm
    #1
    DarkDusk
    Registered Users, Registered Users 2 Posts: 914 ✭✭✭


    Hi,
    I just want your opinion on my current small investment I have made. Before I start, I'm unfortunately not going to tell you the product I've invested in but I can tell you it's in the fitness/weight loss group.
    Anyway, I buy the product for €1.11 and sell online for €3.50 and €1.00 postage to Ireland. Postage fees varies from €1.50 to €2.50 to overseas. After VAT and other fees the Gross profit amounts to €4.00 for one item. Taking away postage that I have to pay to post it the profit adds to around €3.00 to €3.05 (To Ireland ONLY). So that gives me a Net Profit of around €1.95 per item (To Ireland ONLY). I have sold two of these items in the past two weeks.

    What I am asking is I want to know should I reduce/increase the price of the item. There is very little competition worldwide and I'm the only seller in Ireland as far as I know. There is also only about 2-3 sellers in the UK. I sell worldwide. I can also reduce my shipping costs by using smaller and lighter packages. Advice and opinions would be greatly appreciated.

    Thanks,
    James.


Comments

  • #2
    EIREHotspur
    Registered Users, Registered Users 2 Posts: 769 ✭✭✭EIREHotspur


    I'd round it off to €5 plus postage.

    You have no competition so your not exactly looking over your shoulder.

    Settle at a price you are happy with and then concentrate on marketing, marketing and marketing it as well.


  • #3
    EIREHotspur
    Registered Users, Registered Users 2 Posts: 769 ✭✭✭EIREHotspur


    did you get a paypal/online store?


  • #4
    DarkDusk
    Registered Users, Registered Users 2 Posts: 914 ✭✭✭DarkDusk


    Yes I sell online using paypal. I'm not giving out too many details yet...:)


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