Our youngest son came to me with a business idea this past weekend. He wants to sell stickers on eBay. Intrigued by his entrepreneurial spirit, I began asking questions.
He seemed to have a business plan. Buy in bulk. Sell at a significant markup. And he had researched the prices of his competitors thoroughly. Then I said, “I think you need to diversify in case the sticker market has a downturn. See what else your top competitor is selling.”
One quick search revealed that his competitor was selling (in addition to the stickers) lots and lots of lingerie. Most of it at $20 per piece. Based on the coverage of the models and the price point, I’m guessing they didn’t even bother to put washing instructions on the tag. This wasn’t so much lingerie as it was disposable work apparel for leisure professionals.
Stickers and Lingerie. It reminds me of a restaurant in El Cajon California. The sign simply says “Chinese Food and Donuts.” I’ve always wondered what sort of market research went into that combo.
I’m even more curious as to how the eBay person came up with stickers and lingerie as their two main product lines. Come to think of it, it sounds like a fun place to work. Who knows what they will add next?
As for our son, we’ve discouraged the idea of following in his competitor’s footsteps with that second product line. Well, I didn’t so much as discourage it as I nodded my head as my wife discouraged it. It’s important for parents to put up a unified front, you know.
As for me, I’m trying to come up with a totally random product to sell besides books. Stickers and lingerie are out. Any ideas?
Carry on, Citizens!