If you're like most people, you can not wait for this economy to finally turn around. You lost your job, everything around you is getting more and more expensive because of the falling dollar, houses in your neighborhood are getting foreclosed on and the entire situation is starting to seem hopeless. You just want things to get back to the way you remembered them before the economic crash of 2008.
The fact is, the economy hit everyone hard. Our homes are no longer an endless money tree that we can refinance and tap into every couple years. Employers are no longer struggling to find qualified workers that are not already employed somewhere else. Financing is no longer something that can be obtained by anyone with a pulse. TIMES HAVE CHANGED! But it does not have to be a bad thing.
The truth is bad economics make certain people very rich. Take myself for example. This year I launched a website that has exploded over the past 12 months. I am making more money today than I ever could have in a bad economy. I am one of the few individuals that are making this economy work for me and I am doing it by following a very simple formula.
Now I personally have been selling a wide variety of products to individuals all over the country and making big money doing it. However, for the purposes of this article I am going to focus on wholesale massage products which are some of the most profitable items I currently sell. Keep in mind, this concept could easily be adopted to almost any industry in the world with a little creativity.
When an economy collapses there are certain constants that every business faces.
- Every business is looking to save money on staple items.
- Businesses are not willing to pay big bucks for name brand merchandise that is necessary simply for survival of their business when they can find a comparable offset for cheaper.
- Existing branded companies hate to drastically lower prices because they are worried about bastardizing their brand when the economy rebounds. They would prefer to wait it out as long as possible.
- In a bad economy, businesses are more open to trying a new vendor that could save them money.
By capitalizing on these basic principles, I have made tons of money for me and my customers. So how did I do it with massage products?
- By realizing that every business is looking to save money on staple items, I took a look at what items spas and massage therapists would like to save on. We identified massage lotion, cream and oil as those items most used.
- We took a look at the pricing model of the big brands out there. Most branded massage lotion, cream and oil was selling for $ 50- $ 100 per gallon.
- We realized we needed to offer a comparable product at a price the big brands would never try to compete with out of fear they would bastardize their existing brand.
- We realized that the best way to get to the salons was to sell our wholesale massage products in small quantities direct to individuals for unheard of prices and allow them to go direct to their local spas and massage therapists. Our customers buy off us for incredibly low prices and can resell to those items to spas at prices less than half what they're use to paying.
This is a pretty basic concept that can be adapted to almost any industry.