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I haven't heard of YTB so I cannot comment on if it is a pyramid scheme or not.
What kind of success, if any, have you had? Are you making any sales at all or are you spending lots of money marketing and advertising and not seeing any profits?
If you aren't making any money theres no way I would consider moving into a building and adding another expense. Let us know a little more about these two businesses and how you are supposed to make money from them.
I will provide the website for you to look at www.ytb.com/panamaniangodess So far I have been spending money on marketing and advertising and haven't had the luck of anyone purchasing from the travel store www.ytbtravel.com/panamaniangodess my travel store is called Euphoric Travels.
Small Delights is a gift/novelty and home accessories store. I basically do home parties and sell products at our local flea market and of course to friends and family. I would like to target more people by leasing an office. I have a website under construction and I will be able to sell merchandise online as well. I am trying to venture into the wholesale market to also generate income.
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Do you make a commission off selling from both of these companies?
I took a look at the YTB page, it looks good. I assume its an affiliate link that you send people to and make money off of the sales. If thats the case, I think the marketing end becomes very difficult.
With affiliate programs or Amway/Avon type programs I always ask myself "would I buy from someone or some site if I stumbled upon it somehow". Most of the time the answer is no. Why would someone go to your site as opposed to calling their local travel agent or booking themselves a trip with traveolcity, expeida, orbitz, etc.
There has to be a clear cut answer to that question or else the business won't succeed. You can spend countless dollars adveritising a site with Adwords or similar programs but if you don't get any response you are just wasting your money.
The other business always has potential as long as you can advertise yourself. You have to have plenty of contacts and make sure everyone that you know is aware of what you sell and why they should purchase it.
Thanks for the replies.
I do (would) make commission off the travel business. I was sold on the idea that my travel store offers more than just travel, i.e. flowers, honeymoon registry, home accessories etc.. the idea of word of mouth refering because I would assume my family and friends would support me vs. expedia, travelocity etc.. because now people to people sales has seemed to be lost with technology available no one really goes to a travel agency anymore in my community there are no travel agencies!
I agree with your thoughts. The travel industry is really hard because of all of the big websites.
The other business you have going will be successful if you work hard at it and advertise locally. Starting a website and selling items that thousands of other people are selling as well doesn't seem like it would work good. Thats why I would advertise on Craigslist, in your local newspaper, etc. I'm not sure exactly the type of items you are selling, but if they are good items they should be easy to sell. What type of items do you have access to?
I have garden accessories (fountains, windchimes, stepping stones etc), jewelry, niche items (golfers, obama fans, frogs etc) personal items (massagers etc) mother's day items (mugs, plaques, photo frames etc), candles, gift cards BBQ items healthy and beauty, make up, brand name items like Nascar, Harley Davidson i have a little bit of everything.
Sounds like a broad range of items.
If it were me, I would figure out what products I would enjoy selling the most. It's always easy to sell things that you use and have prior knowledge of. Then I would figure out who my target market is for those products. If you have some cool golf related things and know someone who owns or works at a golf store, see if you can take one of the products in and set it on their counter with your business card in front of it. Or simply take a picture of the product, hang it on a bulletin board at the course with your name and contact information.
That way the products can sell themselves while you are busy fulfilling orders. The more ideas you can come up with like this one, the more products you can sell.
I assume this company allows you to purchase brochures or pamphlets with these products in them much like Avon. I would suggest not handing these out or even using them. If someone I know were to hand me a book like that I would be instantly turned off. Kind of like when someone you work for gives you one of those candy fundraising magazines because their kid is trying to earn money for a class trip or something. You may order once to make them happy but you probably won't ever order again.
I would rather have someone say to me, "Hey Mike, I know you like golf, I came across this item and it looks cool, would you ever use something like that?"
I think thats a much better way to sell. Too many people hand out magazines with their products in it and expect sales rather than working for them.
Did not think of advertising in that manner because I do the home parties I normally have products as samples and catalogs for consumers to take home, didn't think of the candy fundraising aspect (I have a 1st grader and everytime i turn around there's a catalog, LOL) very good insight. So you would recommend holding off on leasing a store?
Unfortunately for my travel store I don't feel i will have the success that others have had, I purchased on impulse and I can not of course receive a refund from that so I am going to try to work it as much as possible because that was a $500.00 investment.
I would focus more on the items you can sell rathe than the travel store. If you feel you made a mistake purchasing the rights to it, simply don't spend any more time on it. Unless of course you really think that you can make money off of it.
I would hold off on a storefront. Think of some stores in your area and what they sell. I bet you have a grocery store, hardware store, sporting goods store, etc. All of those stores sell a wide variety of items dealing with their niche. If you were to open a store, not only would you have to order things ahead of time for stock and hope they will sell, but your store would have a wide variety of items that had nothing to do with themselves.
Where does that leave you?
- It's awfully hard to come up with a descriptive business name to put on the front of your store when you have so many different style of products.
- It leaves you with a store full of inventory that you hope you can sell.
- It's hard to market a store with such a wide variety of product.
There is also no way you would be able to stock everything in your catalog, so you would still have to special order items.
Hope I'm not bringing your hopes down too much, but I've seen a lot of people start businesses like this and then fail because they try the traditional approach.
People want to feel connected to a product, like they have to have it. If they have someone like yourself telling them the benefits of the product (how it will save them time, money, effort, etc) they will buy it. Then they will tell people who they got it from. Take the road less traveled and you will be successful.
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I started with a company a month ago called YTB and purchased a home based travel store. I wanted to know if anyone else has been/is with the company because I keep hearing that it is a pyramid scheme? Haven't had much success, Any advice? I also have a gifts and accessories business and have had a little more success with that however, I am thinking of possibly leasing a booth or office to sell more products, any advice as to whether I should keep it home based or move to a building? Are the tax benefits better being home based vs. business? Thanks in advance for your advice.