Hello! I have an idea for a product that I could make for around 30€. what would be the best price to sell this at? And would it sell at this price? How much would I have to pay the manufacturers for labor and machines? And what else do I have to keep in mind? I need a manufacturer that could 3D print stuff and do things with metal like welding and cutting, could someone recommend me a good and cheap one? I plan on giving it to dropshippers that way I have a tree of customers. I will also drop ship this product myself on TikTok to promote the product and maybe people buy it from me. Also how do I make sure the manufacturer doesn’t give the products directly to peopel but through me? And how much do I need to get started, my plan is to make a website and start a group buy where I can see how many people are interested and I get money to start manufacturing everythin. Here‘s a quick run through of what I plan on doing:
- make website and start group buy
- advertise product on TikTok with link to group buy
- get money from group buy to start manufacturing
- ship products To everyone in the group buy
- make more products with the profit of the group buy
- dropship it and give it to dropshippers
There’s a lot to unpack, here. First, the cost of a product alone has little to do with the ideal sales price. The price should be a function of the demand for the product and the price customers are willing to pay.
Many of your manufacturing questions are going to be answered by the agreement you sign with your manufacturer.
Unless you have the means to manufacture at a small scale without being reliant upon a third-party manufacturer, this seems very risky.