I’m currently getting some product samples order for a new idea that I’m validating – nothing revolutionary but my goal is to build a brand around a singular product.
Plan is to get samples, take product photos and build a shopify store to send fb ad traffic to. Looks like I’ll have about $30 of adspend per sale to play with so fingers crossed I get some traction.
Anyway, what have other peoples strategies been once you’ve validated your product? My supplier has a MOQ of 300 units, which is a significant investment lost if I can’t move the product. Have you been able to negotiate down with the compromise that you’ll pay a higher price per unit initially? Ideally I’d only want 100 units initially, and the orders would then increase once I have cash flow. Would appreciate any tips you may have. Thanks!