New business - a market survey

Poll:New business - a market survey
Choice Stats
Will support irrespective of comparable prices sin 3% (1)
Will support only if prices are similar to other r 66% (19)
Will support only if you are cheaper than others 10% (3)
Not inclined to support 10% (3)
Cheap advertising method - I will not support it 10% (3)


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Poll:New business - a market survey
Choice Stats
Will support irrespective of comparable prices sin 3% (1)
Will support only if prices are similar to other r 66% (19)
Will support only if you are cheaper than others 10% (3)
Not inclined to support 10% (3)
Cheap advertising method - I will not support it 10% (3)

chandresh   
Member since: Mar 03
Posts: 2606
Location: Toronto

Post ID: #PID Posted on: 05-01-05 10:15:40

Many persons on this board have known that I have been looking for a job for quite sometime now. Since it is not coming thru, I have been advised by friends and well wishers that I should start some business, initially may be as a part time one, which allows me to continue with my job search, and if the 'side business' grows, I can take it up as an occupation.

With this idea in mind, I have been able to get in touch with two businesses - both of which want to help me grow, besides help their businesses grow. On the face of it, it might sound to be a simple commission business which are available a dime a dozen, but in my case, they are going to be special because the motive behind the special arrangements is both the owners are my personal well-wishers, one of whom has been my ex-employer and the other my neighbour! THE BIGGEST ADVANTAGE IS THAT THESE BUSINESSES CAN CATER TO BOTH NEW AND OLD IMMIGRANTS.

In early 2003, i used to work for a company which manufactures mattresses of high quality - they are willing to provide me mattresses at prices available to employees only. I myself use their mattresses, and some of my friends do too, only because they are really good mattresses, and if needed, they can be custom designed too at a fraction of the price that normal retailers would charge. Ofcourse, they are not those ordinary foam mattresses which sell for $100 a pop in retail outlets, but are really good quality, which one would expect to sell in retail between $500 to $2,500. I expect to be able to sell the same at about 50-60% of the retail price (since retailers in bedding line usually sell for gross margins of 100-150% of purchase price).

Similarly, I have been offered airline tickets at a price of about $10-15 above cost of the wholeseller - with no minimums for getting such a price. Since this is available with my neighbour and great friend, the service will be available even in the evenings (to start with - atleast to discuss the options and pricing).

Now my question to the board members here is, if I do start either or both of these businesses, can I count for any support from my fellow CD members? Personally, I believe in helping my friend/aqaintance in his business if he offers the same/similar product that any other retailer sells at a price similar or even slightly higher than the unknown retailer. Like one of my friends has a business of long distance telephone services, and though companies like G3 and Reliance provide calls to Delhi etc. at about 14-17 cents, I still use my friend's company at 19 cents since it does not make a big dent in my finances, but helps my friend grow in business.

So guys, treat it as a market survey (not an advertisement) of my web friends, and give me an absolutely honest opinion whether or not can I count on support from CD friends, and if yes, upto what extent?

Chandresh

PS - Just found that the poll cannot take all the words that I have put in. the first two options are:

1. Will support irrespective of prices since I have faith in you.
2. Will support only if prices are similar to other retailers.


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Chandresh

Advice is free – lessons I charge for!!


Canadian Dream   
Member since: Jul 04
Posts: 177
Location: Calgary, AB

Post ID: #PID Posted on: 05-01-05 14:24:17

Chandresh, Hi I would very much support you in your venture - I strongly believe in networking and helping one another. I am currently exploring similar opportunity of incorporating my own company in Canada but am still working out the details.

We are expecting some of our friends to visit us from the US in Summer and we will be looking at setting up our guest room - around that time I will definitely be interested in some quality mattresses for the guest room. In terms of travel, we are not currently planning any travel but our plans are quite fluid right now and will revert if something is likely.

Wish you all the best for a very successful start-up and you can count on me for support.



New Guy   
Member since: Oct 04
Posts: 87
Location: KSA

Post ID: #PID Posted on: 06-01-05 00:50:24

Hi Chandresh:

I will be happy to get some quality mattress from you, I have a plan to move with my family in Feb. end 2005. Let me know your contact no. through my personal mail. good luck to you for the new venture.


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New Guy
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We can always do better!


smartguy   
Member since: Aug 03
Posts: 446
Location: CaNaDa

Post ID: #PID Posted on: 06-01-05 11:06:57

1) If the prices are chipper, for sure i will(if i need 1)!
In this case not CDs but all other canadians will also come so dont worry!
2) If the prices are similier, humm.. i would say i like to but depend on location as well. But again prices are resnable so u will have other canadian customers as well!
3) If the prices are higher, then it will depend on individual's finician situation and big factor will be ur service here. If u provide good customer service including home delivery in cheap, more ppl will come in this case as well!


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Special Requests: Please call me after 5:30 because I am self-employed and my employer does not know I am looking for another job


smartguy   
Member since: Aug 03
Posts: 446
Location: CaNaDa

Post ID: #PID Posted on: 06-01-05 11:08:24

Just one more question!
Do u think new immigrant will but mattress cost $500 to $2500??:(


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Special Requests: Please call me after 5:30 because I am self-employed and my employer does not know I am looking for another job


akshar   
Member since: Jan 05
Posts: 2
Location: Muscat

Post ID: #PID Posted on: 07-01-05 14:07:02


Dear Chandresh,

Your calculated price for the mattress is too high for a new immigrant especially coming from India. Why dont you try to sell it in good guest house/hotels/hostels etc. ? I appreciate your endeveour in this field.



chandresh   
Member since: Mar 03
Posts: 2606
Location: Toronto

Post ID: #PID Posted on: 07-01-05 15:12:00

Thanks to all those who have replied/polled.

Yes I do agree that most new immigrants would not be able to afford mattresses above $500. Having said that, I would like to add:

1. A $500 mattress is a good mattress that I would like to buy for myself - but one which retails for 500, I will be able to sell for a maximum of $300.

2. I am one person who believes in not making a compromise on a few things - mattress, shoes, and underwear. People often do not realise that a lot of fatigue, irritation, and mental disturbances in daily life are results of using improper mattress, shoes or underwear. A simple thing like a slightly tighter shoe, or an underwear which might slightly bite into your chest/arms or inner thigh can ruin a perfectly fine day. Similarly, sleeping on a wrong mattress (according to your body structure, mass and sleeping habit) affects your health, daily energy levels, postures etc. It does not necessarily mean that to be good, a mattress has to be expensive, but cheap mattresses are usually made of light density foam which is not only bad for contact with your skin, but also spoils your posture in the long run and is the root cause of back aches in lot of persons.

3. The company whose mattress I would be selling does manufacture some cheaper versions too (but not the really ordinary ones, because neither does it make business sense for a big company to manufacture run of the mill quality, nor does the owner of this company believe in offering a lousy quality product to its buyers). On looking at the price list, I find that the most inexpensive mattress that this company manufacutres can be bought through me at about $175 - but I would never recommand that to anyone except in case of real financial difficulty. Such a mattress would sell in retail between 225-275.

But the best part is - since this company is basically a foam fabrication company, I can even get a plain foam mattress of any quality - extra soft, soft, medium, medium hard, hard, extra hard.... and also if someone wants a special size or thickness!!! But normally I will not want to even recommend a really cheap (quality) product since I will not want to buy that for my family member - and that is where quality and customer care will take priority over business profits.

Chandresh


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Chandresh

Advice is free – lessons I charge for!!




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