I wanted to see their natural reaction. Luckily, all of them seemed to like the product. This gave me a small confidence boost that I could move on. Due to a minimum order quantity of 100 pieces for each color (see screenshot from suppliers pricing below), I had to make a decision which color I wanted to start with. I had no data to rely on, so I went with black. Screenshot showing prices for an item I assumed black would sell better, as black matches with every other color.
Being at the beginning stages of my new ecommerce business, I had to do some math. THE MATH My whole approach on this new business is “keep it simple.” My calculations are no different. At first, I wanted to know how Telemarketing list much money I would need to get started. The price of one backpack is $11.50. I asked for offered $11.30. Not that much, but as I wanted to order 100 backpacks, I’d save $20. Screenshot showing a conversation As you can see I said that I had to ask my boss
About the price. I wanted them to feel like I’m just the guy who communicates, and not the one making the decisions in my company. Back to the calculation: $1,130.00 USD (100 backpacks) + $80.00 USD (100 rubber patches) + $970.00 USD (express air shipping to Germany) + $215.00 USD (approximate, customs) = $2,395.00 USD* *this sum doesn’t include taxes, as I will get them back with my tax return. Of course, there will be more costs later on. But for now, this $2,395.00 is my startup cost.