this post was submitted on 13 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Great question and good job getting your business concept envisioned.
There are basically two types of business.
High volume/low margin (think Smuckers Jam) or high margin/low volume ($20/jar artisan preserves from a farmer's market).
Assuming you're no going to be able to compete on price because you'll not have the manufacturing capacity or sales volume, then you have to compete on quality and sell at a higher price.
Do your products make car detailers more money or save them a significant amount of time?
If so, you MAY have a business.
If not, you do not.
You'll never beat McGuire's or Armor All at their own game.