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If it’s hot, it may be to late

When looking for a product to manufacture, don’t look at what is selling well today; one of the most difficult things to compete against is a successful  product, unless you can change the product to make it better. The first to the market establishes a foot hold which is very hard to break. A good example is the i-pad. Apple introduced it several years ago and now every other manufacturer is playing catch up. It is going to be very hard for any of them to displace the i-pad as number 1.

Let’s talk about things that you can duplicate; as an example, a cookie or cupcake store may do well provided there is not an established one near your target location. Of course start up capital is necessary to open a retail shop. On the less expensive side,  I have a friend that  makes “rocking horses” for small children. He works out of his garage and buys scrap lumber for a lumber yard. His lumber cost is less than $10 and selling price is $95. Labor is intensive and he can have four in the building process at a time. He can complete two a week, working part time. He turns a $170 profit each week and has people waiting to buy. All his marketing is word of mouth.I believe that with a little marketing and perhaps one full time employee, he can have a very profitable business.

Another friend started making religious items, working out of his garage. He has experimented with different types of woods and designs and now has over 30 different items. He sells at craft shows and at local churches. His prices go from $5 to over $300. He has become well knows and respected in his community and his following is constantly growing.

The opportunities are there, the challenge is for you to start!

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If we did all the things we are capable of doing, we would literally astound ourselves.

Thomas Edison

Have a great day!

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