I will setup new business I need advises!!

I’m planning to setup my own business. I came up with this idea few days ago when I was struggling to find a decent electronics components shop to buy parts for my project. The ones I found sell basic components!

Another problem I faced when I started to look for a test equipments company to get my new DMM. I found it but their prices !!!!!!! Unbelievable! So I thought about establishing my own business in this field selling electronics stuff from basic components to reasonable prices test equipments, I won’t sell fluke! lol.

Now, I need help to step my first steps to accomplish this project successfully. I don’t have any experience at all. I defined which kind of stuff I want to sell but the problem will be in contacting suppliers. I don’t know which one to contact! Shall I order from Digikey and Mouser.com? But what about the cost, keep in mind that I will ship it to my country? What about Chinese suppliers?but what about the quality? I’m looking for very good quality with reasonable prices!
I have no knowledge so I really really need your help guys..

thanks in advance

Abeer:twisted:

Start small, learn electronics, start building existing equipment, compare them. Find the components which add significant cost, be creative. It's a long way to go, but if your passionate you'll get there

It is an interesting idea. I have thought for a long time that there is an opportunity to import reasonably priced goods from China or Hong Kong for resale - there are some excellent products to be had for reasonable prices. You need to be very careful about quality and it will cost you money to get samples shipped to you to check that out. Ideally you would visit the suppliers,

I have visited many Hong Kong and China suppliers in the past and they vary enormously in quality. The cost benefits can be huge. For example CR2032 batteries for $0.03. I have also done product tests for companies to ensure that what they are getting is of a suitable standard.

So, yes, I think you could do it. Have a look at Global Sources web site, maybe.

Keith

Darkcrusher said:

Start small, learn electronics, start building existing equipment, compare them. Find the components which add significant cost, be creative. It's a long way to go, but if your passionate you'll get there

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Thanks for your reply. I already started building my own projects but building small projects and testing each component will take forever! . Even if I started to compare between products I won’t cover all brands, right? Therefore I asked for help from experienced people
And yes I agree with you "I need to be more than creative".

Abeer

---------- Post added at 22:45 ---------- Previous post was at 22:33 ----------

keith1200rs said:

It is an interesting idea. I have thought for a long time that there is an opportunity to import reasonably priced goods from China or Hong Kong for resale - there are some excellent products to be had for reasonable prices. You need to be very careful about quality and it will cost you money to get samples shipped to you to check that out. Ideally you would visit the suppliers,

I have visited many Hong Kong and China suppliers in the past and they vary enormously in quality. The cost benefits can be huge. For example CR2032 batteries for $0.03. I have also done product tests for companies to ensure that what they are getting is of a suitable standard.
So, yes, I think you could do it. Have a look at Global Sources web site, maybe.
Keith

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Thanks Keith I Appreciated your help. Yes it is a very interesting opportunity to start such business here. I planned to sell online therefore I won’t pay extra costs. I can’t travel to china or Hong Kong right now so I asked for help from people who had such experience before.

Abeer

I think if you cannot evaluate the goods from China you need to stick to reputable Western suppliers so buying in bulk from people like Digikey & Mouser is probably your best bet (to keep shipping costs down). I am not trying to knock Chinese suppliers (I have a lot of respect for some of the companies I know and trust them to manufacture goods for me and my customers) but you do need to be able to validate the quality of what you are buying.

Keith.

May I make another suggestion for you to consider carefully?
I agree that you have found something which people on this forum will say is a good business plan. But we are biased! We would be interested!
It will be important for you to get an accurate idea of how your customers will find you, how you will find them, how much they will trust you, how much they will spend, how many customers you will have by the end of each of the first few years, how often they will will come back, and how you will pay for the (inevitable) complaints and 'returns', how you will pay for the 'start-up' costs and running costs (business premises, power, insurances, wages, taxes, licences, advertising) and how you will finance the initial stock.
I'm not asking you to post any of that information on here, I'm just offering you a few business matters for you to check, just in case you haven't thought through any of them. We wouldn't want to see anything go wrong for you!
Good luck!

heloo ,
this is kinda good but very conventional business . if you want to take your business online let me knw . i make websites and can provide you my services . u can mail me at mihir007007@gmail.com

I think you should make step by step, if you want to import, try to find a reliable supplier, or you can find a buyer for you, anyway he or she should be reliable and responsible.