Wednesday, August 30, 2006

Ethnic Band Bracelets

My First Idea.

Everyone knows the Livestrong Lance Armstrong bracelets right? I actually did some research in some producers of these bands and you can buy a bulk of these for pretty cheap.

Now the idea is this. Create these bands to meet specific target markets like the African American community, Irish community, Gay/Lesbian community, the possibilities are almost endless.

There are four keys for the success of this project.

1. Make sure the colors make sense with the fashion and style of your audience and it that has a "catch word". For example a rainbow colored band that says "Proud" for the gay community or a black band that says "Respect" for the African American community.

2. The key is to sell directly to your audience. Try to strike deals with magazines or stores. Offer them exclusive deals to begin with to get your name noticed or until it catches on with others (tipping point theory). For example try to place bracelets in Vibe magazine or other ethnic influenced magazines. Or maybe somewhere like this: This may mean you might need to incur some costs initially.

3. Have your brand name or website on the bracelets for recurring sales opportunities

4. Don't buy too many in bulk until you have deals setup. Use your initial amount as samples to potential vendors and customers.

I would imagine your margin would be pretty small on a venture like this, but at the same time your cost would be pretty low so you have to think about bulk sales.

Another thing that might help sales, but hurt your margins is doing what made Livestrong so popular(besides Lance) donating part of the profits to charity.

Monday, August 28, 2006

First Post

This first post is more or less just a test to see how the system works... More posts to come, I promise.