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  1. #1
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    About to start a new company

    it is all because my love for flashlights working on geting a whole seller now.So far i have been approached buy one .but how do i know if there legit?there will be lots of money invollved how do i protect my self?

  2. #2
    Pentapointed Member ahsposo's Avatar
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    Spellcheck.
    Quote Originally Posted by toddles View Post
    If I gotta look up words, it's not worth my time.

  3. #3
    Pedaled too far. Artkansas's Avatar
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    Don't rush in. Get your business plan straight first. That's more that we can cover here in Foo. Get thee to a library.
    "He who serves all, best serves himself" Jack London

    Quote Originally Posted by Bjforrestal View Post
    I don't care if you are on a unicycle, as long as you're not using a motor to get places you get props from me. We're here to support each other. Share ideas, and motivate one another to actually keep doing it.

  4. #4
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    Quote Originally Posted by ahsposo View Post
    Spellcheck.
    Yeah that is for sure i was just thinking i should hire a secretary. Because spellchecker has no clue what im trying to say.But there is nothing i hate more then being a boss.PLus it will cost at least 15 bucks a hour for agood one

  5. #5
    Senior Member LesterOfPuppets's Avatar
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    Quote Originally Posted by ahsposo View Post
    Spellcheck.
    +1. And...

    2. Don't get high with your accountant.
    3. Budget for rights to rock this in the commercials

    1980ish Free Spirit Sunbird fixed * 1996 Mongoose IBOC Zero-G * 1997 KHS Comp * 1990-ish Scapin * Olde Western Auto Cruiser.

  6. #6
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    Quote Originally Posted by Artkansas View Post
    Don't rush in. Get your business plan straight first. That's more that we can cover here in Foo. Get thee to a library.
    yeah im going slow spent a lot of time finding the best items to sell .Now im just looking for good wholesellers

  7. #7
    Super Moderator no1mad's Avatar
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    What is going to be your business model?

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    Pentapointed Member ahsposo's Avatar
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    Quote Originally Posted by windhchaser View Post
    Yeah that is for sure i was just thinking i should hire a secretary.
    Let's make it an even $20 and I'll start Monday after Thanksgiving.
    Quote Originally Posted by toddles View Post
    If I gotta look up words, it's not worth my time.

  9. #9
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    Quote Originally Posted by no1mad View Post
    What is going to be your business model?
    selling the bestflash lights for cheap so far ive shown thse lights to guys who have 3 hundred dolar flashlights and i blew there mind for instance a 6 d maglights thats right 6 d cells is like 200 lumens i can sella light that fits in ya pocket for around that many lumens .Im also looking at lights that are around 5000 lumens that i can sell for around 75 bucks i hope

  10. #10
    Senior Member pgjackson's Avatar
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    Quote Originally Posted by windhchaser View Post
    it is all because my love for flashlights working on geting a whole seller now.So far i have been approached buy one .but how do i know if there legit?there will be lots of money invollved how do i protect my self?
    You are starting a flashlight company? Really? Just flashlights? I'm not sure there is "lots of money" in the flashlight market.
    "These are questions for wise men with skinny arms." - Khal Drogo
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  11. #11
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    Quote Originally Posted by pgjackson View Post
    You are starting a flashlight company? Really? Just flashlights? I'm not sure there is "lots of money" in the flashlight market.
    u would be surprised there called flashoholics.these aint lights u get at walmart they pretty much make it lok like its daytimes or they can do s.o.s or u can just use them on low to save battery life

  12. #12
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    It has to be better then having the money in the bank as the dollar falls even realestate i think will fail

  13. #13
    Senior Member LesterOfPuppets's Avatar
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    Quote Originally Posted by windhchaser View Post
    It has to be better then having the money in the bank as the dollar falls even realestate i think will fail
    Again? When's the double dip hit, Swami?
    1980ish Free Spirit Sunbird fixed * 1996 Mongoose IBOC Zero-G * 1997 KHS Comp * 1990-ish Scapin * Olde Western Auto Cruiser.

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    Quote Originally Posted by LesterOfPuppets View Post
    Again? When's the double dip hit, Swami?
    i just am guessing around 2013 the market will fail. now i admit im no expert im far from it.If im wrong it wont be the first time lol

  15. #15
    Pedaled too far. Artkansas's Avatar
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    One thing you might want to check out is Shark Tank, if you don't watch it already. Lots of budding entrepreneurs getting ripped up by the pros, and a few make it into partnership. The thing to watch is how the pro's evaluate the entrepreneurs, what are they looking for.
    "He who serves all, best serves himself" Jack London

    Quote Originally Posted by Bjforrestal View Post
    I don't care if you are on a unicycle, as long as you're not using a motor to get places you get props from me. We're here to support each other. Share ideas, and motivate one another to actually keep doing it.

  16. #16
    Pedaled too far. Artkansas's Avatar
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    Quote Originally Posted by windhchaser View Post
    It has to be better then having the money in the bank as the dollar falls even realestate i think will fail
    Yes and no. Business badly done can be one of the fastest ways to lose your shirt. Or, you might be the next Mark Zuckerberg.
    Last edited by Artkansas; 11-16-12 at 11:03 PM.
    "He who serves all, best serves himself" Jack London

    Quote Originally Posted by Bjforrestal View Post
    I don't care if you are on a unicycle, as long as you're not using a motor to get places you get props from me. We're here to support each other. Share ideas, and motivate one another to actually keep doing it.

  17. #17
    Super Moderator no1mad's Avatar
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    Quote Originally Posted by Artkansas View Post
    One thing you might want to check out is Shark Tank, if you don't watch it already. Lots of budding entrepreneurs getting ripped up by the pros, and a few make it into partnership. The thing to watch is how the pro's evaluate the entrepreneurs, what are they looking for.
    He would have to bring something to the table like a new design, improved optics, improved driver circuitry, revolutionary power supply- with a patent or ten in hand- if he even has a chance. From what I can tell, the OP just wants to enter the retail space (be another middle man) and that sector is chock full already- action led and shiningbeam come to mind.

  18. #18
    Pedaled too far. Artkansas's Avatar
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    Quote Originally Posted by no1mad View Post
    He would have to bring something to the table like a new design, improved optics, improved driver circuitry, revolutionary power supply- with a patent or ten in hand- if he even has a chance.
    I said WATCH the show, not be on it. You learn a lot about the business metrics, cost of production, ROI, rates of growth etc., that they (and others in business) are looking for, mistakes that entrepreneurs make, things they do right etc.

    If he needs it I've got a great flashlight concept that uses persistance of vision to increase the useful light from a flashlight without a brighter bulb. I even made a prototype and it works.

    Sadly, with the new LED flash lights and improved batteries, it's now easier and cheaper to just add more LEDs.
    Last edited by Artkansas; 11-16-12 at 11:37 PM.
    "He who serves all, best serves himself" Jack London

    Quote Originally Posted by Bjforrestal View Post
    I don't care if you are on a unicycle, as long as you're not using a motor to get places you get props from me. We're here to support each other. Share ideas, and motivate one another to actually keep doing it.

  19. #19
    Super Moderator no1mad's Avatar
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    He should watch the show and maybe it will help him figure out what direction to take with his ideas. If the seed for this was planted in head by a vendor inquiring if he'd like to be a distributor... yeah, he should not only watch it, but take copious notes.

  20. #20
    Senior Member pgjackson's Avatar
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    Reminds me of the SNL skit about the Scotch Tape store. Just not sure a flashlight store is a great idea. I think people are pretty happy with their cheap Walmart flashlights. Not really a product most people are willing to spend a lot on.
    "These are questions for wise men with skinny arms." - Khal Drogo
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  21. #21
    Pedaled too far. Artkansas's Avatar
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    Yup, it's possible that he could do it. But he'd have to do a lot of research into his business model. Selling stuff for the cheapest is a model that sucks in a lot of people, and a few like Sam Walton make it work. So he'd have to compete with Sam Walton now. What made it work for Sam Walton was not that he sold it cheapest, but rather that he brought low prices to rural areas where other discount stores didn't think there was enough of a market.

    But it's possible that he might come up with an angle that could work if he thinks carefully and could find something like customer service, building a community or other unique strategy. If there is a community of photophiles (light lovers) as he says he might be able to make a market of it selling rare, unique or hard to get stuff.
    "He who serves all, best serves himself" Jack London

    Quote Originally Posted by Bjforrestal View Post
    I don't care if you are on a unicycle, as long as you're not using a motor to get places you get props from me. We're here to support each other. Share ideas, and motivate one another to actually keep doing it.

  22. #22
    Senior Member pgjackson's Avatar
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    Quote Originally Posted by Artkansas View Post
    Yup, it's possible that he could do it. But he'd have to do a lot of research into his business model. Selling stuff for the cheapest is a model that sucks in a lot of people, and a few like Sam Walton make it work. So he'd have to compete with Sam Walton now. What made it work for Sam Walton was not that he sold it cheapest, but rather that he brought low prices to rural areas where other discount stores didn't think there was enough of a market.

    But it's possible that he might come up with an angle that could work if he thinks carefully and could find something like customer service, building a community or other unique strategy. If there is a community of photophiles (light lovers) as he says he might be able to make a market of it selling rare, unique or hard to get stuff.
    We talk a lot here about bike shops struggling to stay open...I can't imagine there are enough flashlight enthusiasts out there to support a business.
    "These are questions for wise men with skinny arms." - Khal Drogo
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  23. #23
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    Quote Originally Posted by Artkansas View Post
    One thing you might want to check out is Shark Tank, if you don't watch it already. Lots of budding entrepreneurs getting ripped up by the pros, and a few make it into partnership. The thing to watch is how the pro's evaluate the entrepreneurs, what are they looking for.
    They shun retailers.

  24. #24
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    Try and sell some on eBay first. Also the best way is to sell directly from the supplier so you have no inventory to speak of.

  25. #25
    The Site Administrator: Currently at home recovering from a couple of strokes,please contact my assistnt admins for forum issues Tom Stormcrowe's Avatar
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    How big a scale are you interested in? Cottaqge industry scale can be done via Ebay and Amazon, all the way up to industrial scale. They are just marketing avenues.

    Protecting yourself? First, incorporate your venture. It isolates your venture from your personal money and compartmentalizes liability. Hire a lawyer and an accountant. If you are going to manufacture overseas, hire an import/export specialist and good freight forwarder.

    Have an operational plan from the get go, and have capitalization in place sufficient to meet your needs. Most businesses fail because they run out of capital in the middle of their climb and hit the wall. Shoestring startups are very prone to failing, because they have no reserves for failures.
    on light duty due to illness; please contact my assistants for forum issues. They are Siu Blue Wind, or CbadRider or the other 3 star folk. I am currently at home recovering from a couple of strokes. I am making good progress, happily.


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