I have this idea to start selling a high ticket item to consumers but the problem is it’s a very expensive product to sell (looks like $10k-$15k) as well as learn and hold product. I’ve done a few small start ups selling cheap products so I’m not unfamiliar with selling, but this market will be brand new to me and it’s a big risk to take on that much debt just to start up. Any advice on how to minimize financial risk or any other advice would be appreciated!
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If it’s a home appliance like you mentioned work on all the marketing, slick brochure, and if it’s something that doesn’t exist today… go to your nearest rich neighborhood and talk to some people about the product.
Could tell them you’re thinking about “repping” this product but don’t even know if people would buy it, do they have 5 minutes to hear about it, to get their feedback before you decide if you should sign on as a sales …
Get real feedback from your target market first before building or making anything. Maybe during this process you can collect a $1000 deposit for their order :P
But in general, I do high ticket service sales. Usually it helps if people are actively searching for problems this device can solve for them.
If you have to tell them about their problem and that this solves it… it’s probably not a painful enough problem.
You need early adopters who are excited to have the cool thing no one else has yet.