| Want To Start a Business That Sells Physical Products?

Posted in Small Business at 9:00 AM by Loftis Consulting

Running a business is complex and is never going to be a walk in the park- however some definitely face more challenges than others. If for example your business sells physical products rather than say online services, this throws up lots of different issues which you as a company owner will need to overcome. Here are just a few things to consider when you’re selling products.

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Manufacturing

Will you be buying cheap from a wholesaler and selling for a profit, or creating your own products? If you will be selling your own, you will need to consider the logistics of making them. Will you open your own manufacturing plant to mass produce your products, bearing in mind this will require a lot of money up front to get started. Or will you outsource this to another company, which will be easier in the short term but cost you more in the long run? You will need to consider everything from materials to packaging, for example a business selling artisan coffee would need to decide between custom coffee packaging or jars. Have a think about the products you will be selling, and how you will be creating them.

 

Fulfillment

Once you have your products, you will need to pick, pack and send them out to customers- this is known as fulfillment. Making sure everything is correctly packaged is important, not only will it protect items and prevent them getting damaged in transit but it also makes your company look more professional. Again you have the option to outsource here if you don’t want to do so in-house, if you send items in bulk or they are very large it could be worth doing so since a professional company will have the experience and equipment needed to deal with this.

 

Delivery

The way you have items delivered will depend on the kinds of things you’re selling. Large, bulky items or if you’re sending big crates of items to things like businesses, a courier will be the way to go. You then have the option to add things like parcel tracking, next day delivery or anything else. Smaller, lighter items could be sent via post. Going to the post office with large volumes of parcels every isn’t practical, however you can book business collections with the postal service for a fee, which is something to look into. If you’re offering free shipping, make sure you’re making your money back elsewhere for these kinds of costs. The good thing about using the postal service is you can easily send items across the globe as long as they’re not prohibited.

 

Shipping Globally

Speaking of global shipping, this is an important thing to address in your business. If you’re able to sell and ship your products across the world you massively increase your potential customers. For larger items that can’t be sent via post, you would need to look into things like fleets of ships and airmail. If you regularly do large deliveries overseas, you could consider investing in your own fleet.

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