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Starting a speedcubes shop(fairly small niche).

Discussion in 'Starting Your Startup' started by drc00k3, Aug 29, 2016.

  1. drc00k3

    drc00k3 Entrepreneur

    Me and my friend are planning on starting a shop for speedcubes(Speedcubing - Wikipedia, the free encyclopedia) because there is only one shop for them in the UK(that is used) and it is badly run, orders take a long time to deliver, some don't get delivered, the website is bad, etc. We have contacted wholesalers on alibaba and verified them being legitimate. We also contacted a few us stores to ask how much money was required to start a shop. The average price was roughly 2000 USD. However we don't have much money to invest(~$500), how can we get the money to be able to start the shop and how can we advertise?

  2. Ciaran

    Ciaran Entrepreneur

    Are you looking to start an actual brick and mortar business or an e-commerce store? It's not really clear, so I presume you're looking to make an e-commerce store!

    Firstly, it shouldn't take you 2000 to make it. Realistically, for a decent website , it would cost around 100 and you could have it live within a day! Because you don't have much money to start of with, you should considering drop-shipping from China using AliExpress rather than actually buying the product in bulk and storing it yourself. Although the shipping times are really long (15-30 days), it's probably your best bet!

    I did a quick Google search and from what I can see there are 3 main competitors for the UK market. 2 of the 3 competitors don't have a blog, so you could really take advantage of this and rank for keywords they're not taking advantage of! As well as ranking for keywords, you could post this content on Facebook groups and forums in the hopes that someone might share it and visit your site! Keep in mind that you won't rank for keywords over night and this is a long term strategy.

    I hope this helped!
  3. olgab

    olgab Entrepreneur

    if you want b&m business you'll probably need some money, but for online I agree with Ciaran, you should be good. As per my quick search there is some variations of speedcubes, but not so much so with 500$ you even can create some stock for few initial orders and see how it goes.

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