Do One Thing
...and do it mediocre-ly
We live in a particularly weird time economically in the USA.
The financial value of a retail product is so disconnected from either its manufacture location, cost, or any perceived actual benefit that basically simple items can sell for huge markups.
I'd like a small shot at finding out the profit potential from selling a single inexpensive product at a high margin.
My example for this page is a HotWheels brand 1:64 scale toy car. These are mass produced in China Malaysia and can be purchased in bulk for well under $1 US each, in shelf-ready packaging.
Here is my pitch - I will Dress Up like a Race Car Driver with a jumpsuit and an oversized car-racer helmet...the old style with goggles. I will ride my electric bicycle to various events and set up, like a HotDog Cart, but instead a HotWheels Cart.
My proposed price point is $5 (Tax included). This is a 500% markup, but I bet that at an average parade in New England I could easily sell 200 toys.Â
In my book, that works out to exactly 2 things...an $800 day, and a shit ton of kids with a fun new toy that didn't break the bank for the folks.
I think I'd look the other way if I suspected light shoplifting...that'd be kind of cool.