I've found a Niche!!!

Poser

Don't forget you'll get customs charges on top of the prices and if you make £10 profit its worth it

nalibz

Poser wrote:

Don't forget you'll get customs charges on top of the prices and if you make £10 profit its worth it

Thats an excellent point, didnt think of that actually so thanks!

how much do you think it would cost on a pallet of goods worth about £200 + p&p?

thanks again

tru

Good for you, Nalibz :T

nalibz wrote:

so my question is, is it worth it, as returns could prove highly costly?

Tell us what it is and we'll be able to help :rotfl:

Moglex

nalibz wrote:

Basically i was walking through a local shopping centre and noticed something someone was selling.. I was really interested in buying it and was quoted £80, obviously i had to research it so i didnt buy and took a business card..

Anyway later on i was researching it on the net and found it for £9! and they are selling for excess of £65 on ebay

so basically my problem is that firstly they have to come from america, secondly i have to probably lay out about £200 and if i have any problems with the items ie returns then there will be serious problems..

so my question is, is it worth it, as returns could prove highly costly?

There are some foreign products that have a tiny, tiny market over here.

If the market exists, someone will generally try and service it, either by shipping from the country in question or importing.

The problem is that importing something with a very small turnover can be extremely expensive.

You'd really need to have a good idea of the market and be sure that you haven't missed another importer who may be selling it much more cheaply than £80, but be known to the marketplace by some means that is not visible on the net.

Sounds a risky prospect unless you can build up a little more gradually than £200 at the first go.

To put it another way:

Most people who want one probably look on the net.

If the price difference is that great, surely a lot of them will try and get the item by direct import. Or get a few and sell some on. Or try and start an ebay business.

Don't want to put a downer on your idea, but take care and ask yourself: If there is a niche, why hasn't anyone else noticed it?

Poser

Well add vat at 17% ,+ you'll get a charge depending on what the product is, but then again you might be lucky and goods might get through without any charges.

Poser

the wife bought some beads from the usa worth £40 and she had to pay a customs fee of £14

Poser

troo wrote:

Good for you, Nalibz :T


Tell us what it is and we'll be able to help :rotfl:

Don't mate keep it to your self

Hintza

Firstly take things slowly. Buy a small quantity first put them up for sale and see how you get on (I would probably risk £200 from a UK seller but maybe half that for an overseas seller).

£18 is the limit before you start paying duty so why not buy two and see how they go. Research past similar sales. You will also want to check reliability etc if you are buying them for £9 and selling for over £50 you will not be bothering sending returns back (unless a high percentage fail). Build a relationship with your supplier if you can and maybe you can get a reduced price to cover any returns to you.

If the item weighs more than 1kg then P+P can become relatively expensive so think about that.

Factor in VAT, duty and charges of about 20% initially and then fine tune it. If possible avoid couriers and use US priority mail to keep those charges down, courier's charges always seem to be very high. Keep records as Customs will get interested when a lot of stuff starts to come through and will start asking questions. Remember Customs and the Inland Revenue are all one agency now!

Get a feel for the market and enjoy whilst it lasts....when I find out what it is I'll join you...;)

nalibz

Thanks to everyone for their excellent advice! Its really given me something to think about...

when i consider that i have to pay £9 for the item plus probably about £5 shipping charge PER item (possibly)

then factor in the customs charges 17% + lets say a total of 20%

then factor in ebay/paypal charges...

it will cost about £25 ish i reckon to bring each item in and list it..

anyone else got a better estimate? i will eventually put all the charges into a spreadsheet but at the moment im trying to get a rough idea..

If i could then sell the item for £50 theres a profit of £25...

it just worries me that no one else has thought of doing this, and there are a few on ebay but not many which makes me slightly anxious:o

aurora_borealis_2

carrie483 wrote:

Please dont use this site to gloat. If you are making money then good for you but dont brag.

What a misery! Booooooooooooooooooooooo

Good for you nailfile :T