After choosing the product, how do you find a supplier? Next, let’s learn how to get the product you want to sell.
DIY
DIY is a common method used by many craftsmen and handicraft enthusiasts. Whether it is jewelry, fashion products, or natural skin care products, self-production can maximize the control of their quality. However, the cost of such products will also be relatively high, including the cost of purchasing raw materials and inventory management. Not only that, DIY products are also time-consuming because it is difficult to control their quality and it is difficult to mass produce them. The most important point is that not all products can be made by hand. The suitable groups, advantages, disadvantages, profits and risks of DIY products are as follows:
(1) Suitable groups.
DIY products are suitable for both handicraft masters and sellers who have their own unique ideas, have the conditions to produce their own products, and have available resources; they are also suitable for sellers who want to fully control product quality and brand and have relatively low initial investment.
(2) Advantages.
The startup cost is relatively low: homemade/DIY products do not need to be produced or purchased in large quantities like production or wholesale, which will reduce production costs, which is the main cost when e-commerce operations start.
●Brand control: Merchants can create the brand they want for homemade/DIY products, and there are no restrictions on brand creation.
●Price control: The ability to independently control product positioning and price.
●Quality control: Strictly control product quality to ensure that the product meets consumer expectations.
Flexibility: Homemade/DIY products can bring flexibility to sellers’ operations and are less controlled by suppliers. At the same time, merchants can also freely control product quality, details and even the entire operation process.
(3) Disadvantages.
●Time-consuming: Homemade products are a very time-consuming project. If sellers choose to make their own products, the time spent on operations will be greatly reduced.
●Scalability: When the scale gradually expands, the shortcomings of homemade products will follow. Although manufacturers can be found to help with production, the possibility of mass production of handmade products is too small.
● Limited product selection: The choice of potential products is limited by the craftsmanship of the merchant and the resources currently available. (4) Profit.
Compared with products from other supply channels, the profit of homemade/DIY products is relatively the highest, because merchants can control their own costs and prices, but they must carefully consider the output efficiency per unit time.
(5) Risk.
The risk is low and no inventory is required. Sellers can wait until they receive an order before starting production.
Homemade/DIY products are a very popular way of producing products in the United States. Many e-commerce company founders started their businesses in their garages and sold homemade/DIY products.