Risk Evaluation
We received a second box one day after the first box arrived. We have not received the last box yet.
As a business owner, these are risks you need to evaluate to see if they are worth your time or not.
When you purchased goods from outside the US there is a possibility of losing merchandise.
You need to factor in this cost into your cost of goods. You might decide to just purchase from businesses that already got the product from China into the USA territory to minimize your risk, However, you need to know that these businesses factor into their price all the risk they run into to bring their merchandise in the USA and available in their store for sale.
Quality Control
I would open the two boxes and start my quality control of the shirts. We received the hoodies box first and children and women long sleeve polos in the 2nd box.
We got 110 pieces in two boxes out of 205 pieces ordered.
Where to sell your products?
Although our business has been around for some years, in 2020, we combined product-based business and service-based business into one.
In 2020, I created websites for the products to sell while I sold on Etsy, Ebay, and Mercari.
I don’t like to call myself Ebay seller or Etsy seller as these platforms are not mine. I sell on Esty, I sell on Ebay. Therefore, it’s important to open our own websites. There are our stores.
When you have multi partner LLC or an S Corp, your business can survive even after you. However, I am not sure if Etsy store or Ebay store can be passed down. It is then important to create your own online stores and sell on your own websites as well. You could sell on another public platform like Etsy or Amazon but I don’t believe you own these store front. They are like a mall where you lease a space to sell online.
You might want to create your own website and as you sell on public platform built your online store a little by little.
Last year (2020) we created websites for our online stores and this year 2021, I plan to create products, private labels, to list products on these websites as well as sell on public platforms.
We created videos on few of the websites to show how to create your own websites.
How to sell on your own website without a social media presence?
My next steps would be to run Google ads.
I like to sell on our own website without social media presence.
I turned on Google ads in 2020 for a month or so and turned it back off. I intend to focus on it later.
I might create videos on the process.
I like to record a short video of each product and publish on YouTube. The link is put in the product description on our website incase a buyer would like a visual of the product.
16-How can I Buy Goods from China: Video
How can I Buy Goods from China
Depreciation Spreadsheet-DS22821
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