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    Username Post: How to start a knife business?        (Topic#833744)
    matt_black
    Member
    *
    10-06-08 16:57.17 - Post#1653748    




    I recently lost my job and now I am trying to figure out how I am to pay my bills. I was thinking of starting my own business in something and thought that maybe I could somehow sell knives and cutlery equipment and hunting/camping odds and ends on the side for awhile.

    Recently I was watching a shop at home network on my satellite television and saw a show called Cutlery Corner I believe it was. They were selling huge lots 100+ knifes for $100 or less and that is how I got my idea.

    My biggest concern though is how do I go about doing it? Should I just but like 500 or so pieces load up and drive down to my local Flea Market/Swap meet and set up a table and sell each knife for like $5 a pop? Is that even legal to do? Or do I need to like have permits and such? I mean I know I can’t sell to a minor and I know I can’t sell blackjacks, switchblades, brass knuckles etc. but is it legal to just practically sell knifes out of the back of your car (I live in Virginia by the way if that helps).

    Didn’t that Frost guy start his business by doing just this? And now he is quite rich I hear.

    Any help appreciated!
     
    brianWE
    Member
    *
    10-06-08 17:06.54 - Post#1653754    


        In response to matt_black

    Welcome to KF!!

    I can't help with business advice except to say, unless you have very deep pockets, it is unlikely to work.
    Small dealers go to the wall with monotonous regularity.
    Usually, they start with no inventory and order as they get a potential sale. That way, they are dependent on the reliability of the supplier.
    To get a foothold, they find it necessary to undercut the competition. Often, they find the profit margin isn't enough to survive on with a small turnover.
    Frankly, if you have to ask, you, probably, don't have the skills to make a success of such an enterprise.


    IMO.
    Brian W Edginton
    I do not believe that the law should be used
    to enforce Political Correctness.

    However, I DO approve of the use of mob
    violence to educate rude, ignorant people.








     
    WongKonPow
    Master Member KnifeNut!
    *
    10-06-08 18:01.51 - Post#1653778    


        In response to brianWE

    Unfortunately, Brian is right for the most part. It takes a lot of money to start up a business, and if you aren't successful then it will be money you lose without gain. Doing well when opening a business is to break even the first month, which is making no money, but also not losing any either. So as an actual means to pay the bills, starting a business isn't the best option.
    However.
    It may be something worth pursuing if you actually have a passion and desire to provide cutlery to people. In that case then your best bet is to find another job, something that can keep you afloat while also earning you enough to fund the start of your business.
    But be warned, starting a business is not at all easy.

    www.warriorsandwonders.com


     
    Paolo
    Member
    *
    10-07-08 00:37.19 - Post#1653896    


        In response to matt_black

    It'll be quite a challenge if you don't have an outlay of cash to start with. Drop shipping is an option but you should do both - stocking dealer and drop shipper. When you earn profit, put most of that into more stock and grow. Sure you can do the flea market thing as well to supplement.

    To start online you can try these options:

    You'll need a website...
    You'll need a merchant account...
    Get a good source for suppliers ...

    Do your market research, legal research (permit, licenses, etc.) and when you get your site running, include a blog so you can connect with your customers and give announcements, etc. Good luck!

    [Paolo...if a fellow member is interested, please feel free to PM the links to the providers that you had supplied. Thanks! marcinek]

    Edited by marcinek on 10-07-08 02:36.15. Reason for edit: Links removed
     
    MikeStewart
    Master Member KnifeNut!
    *
    10-07-08 00:48.00 - Post#1653903    


        In response to Paolo

    The most successful Internet sites are ones that actually have inventory.

    They succeed because of two things.

    Service and Selection.

    They have Competitive Prices but not the lowest prices.

    They also have a lot of money tied up in their inventory.

    It takes a very long time to get noticed on the internet and You have to have enough money to get to that stage.

    Those that are successful also advertise.

    You must have a good knowledge of Business--not just an interest in knives.

    You have to look at what sells--Not just what You like or You think will sell.

    Starting an internet business is easy-- Making it successful is not easy.

    Mike
    BRKCA MIKE #01
    NJKCA #041

    "I Am America"

    Bark River Facebook Group - Join Today

    RIP Chris + 1


     
    OKBohn
    Moderator
    *
    10-07-08 14:33.56 - Post#1654743    


        In response to MikeStewart

    • MikeStewart Said:
    The most successful Internet sites are ones that actually have inventory.

    They succeed because of two things.

    Service and Selection.

    They have Competitive Prices but not the lowest prices.

    They also have a lot of money tied up in their inventory.

    It takes a very long time to get noticed on the internet and You have to have enough money to get to that stage.

    Those that are successful also advertise.

    You must have a good knowledge of Business--not just an interest in knives.

    You have to look at what sells--Not just what You like or You think will sell.

    Starting an internet business is easy-- Making it successful is not easy.

    Mike



    Amen to all of that. As someone who has started such a business in the last 2 years I have something to say.



    "Pass the Ramin Noodle soup, please."
    Derrick
    KnivesShipFree


     
    jetsrb32
    Master Member KnifeNut!
    *
    10-07-08 15:02.44 - Post#1654792    


        In response to matt_black

    • matt_black Said:

    I recently lost my job and now I am trying to figure out how I am to pay my bills. I was thinking of starting my own business in something and thought that maybe I could somehow sell knives and cutlery equipment and hunting/camping odds and ends on the side for awhile.

    Recently I was watching a shop at home network on my satellite television and saw a show called Cutlery Corner I believe it was. They were selling huge lots 100+ knifes for $100 or less and that is how I got my idea.

    My biggest concern though is how do I go about doing it? Should I just but like 500 or so pieces load up and drive down to my local Flea Market/Swap meet and set up a table and sell each knife for like $5 a pop? Is that even legal to do? Or do I need to like have permits and such? I mean I know I can’t sell to a minor and I know I can’t sell blackjacks, switchblades, brass knuckles etc. but is it legal to just practically sell knifes out of the back of your car (I live in Virginia by the way if that helps).

    Didn’t that Frost guy start his business by doing just this? And now he is quite rich I hear.

    Any help appreciated!





    THOSE KNIVES ARE TOTAL CRAP
    My Dealers

    www.Knivesshipfree.com

    www.the-knife-connection.com ...Quality Knives, Real Savings, FREE Shipping!


     
    Yossarian208
    Master Member KnifeNut!
    *
    10-07-08 15:17.59 - Post#1654804    


        In response to jetsrb32

    Matt,
    While some of the knives seen on Cutlery Corner are good quality (the slip joints), the big sets are geared toward the flea market/swap meet sellers. While there might be a little money to be made doing it as a hobby, I would guess there isn't enough there to make it a living. I see quite a few people trying to unload their knife sets on e-Bay all the time with very little, if any, bidding on them at all. Always, if it looks to good to be true, Run Away......

    Bruce
    Mike #208
     
    knifetinkerer
    Master Member KnifeNut!
    *
    10-07-08 18:51.16 - Post#1654915    


        In response to matt_black

    Market penetration vs. Wally World and the internet would be a nightmare.

    Still, at a busy event, the cheap knife booth is often the most crowded thing.

    It would be a lot of work, some cash outlay, and some long days with a lot of dumbos pawing at the merchandise constantly. Think how many cheap knives you'd have to sell to cover costs and still give yourself an income.

    And to use that as a springboard to owning a knife shop would be really tricky.

    Have a look at the prices at Wally World, Target, REI, Bass Pro, and so on, not to mention the net. Imagine competing with that, every day, and selling enough pieces per month and clearing enough on each piece to pay the lease and feed yourself.

    Not that I've given it any thought.

     
    Chico Buller
    Master Member KnifeNut!
    *
    10-08-08 10:09.31 - Post#1655567    


        In response to brianWE

    • brian w edginton Said:
    I can't help with business advice except to say, unless you have very deep pockets.



    Yikes, that's theeee most important part!

    I don't think my business would even exist if it wasn't for my wife's income and Social Security.

    Of course, I straddled both horses. I sharpen, and early on I'd go anywhere to sharpen anything.

    Ah, but washing manure off hoof-knives is not as much fun as it would seem.

    But then, sharpening clients wanted better knives. I became a rep for JWW and Blue Ridge. I needed a resellers permit, however, that also gave me the credentials to sell automatices to police, firefighters and EMTs.

    During the last 18 months I have enjoyed enough success to limit my business to selling and servicing high-end kitchen knives.

    But here's the scope of time. Five years part-time. Ten years open to the "world" and occasionally earning gas money, and two years actually living without gut wrenching fear.

    That's what it takes to become an "over night success."


     
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