This is all the money I have on my account and I'm willing to go all in. My plan is simple: create a single product e-commerce store, with a product which has low production costs (not more than $5) which I can preferably make at home.
I buy a domain name ($10), reserve money for half a year of Shopify ($174), start an LLC in my country ($60), which is in total $244. I will buy/produce 20 units of my product, which cost like I said preferably about $5 per unit, which puts me at $100 + $224 = $334.
About $50 will be spend on nice custom packaging, $100 to take nice pictures of my products, which puts me at $150 + $334 = $484. I will spend the rest of the money on FB ads, SEM and guerilla marketing.
What do you guys think (of my plan)? Is it possible to start a profitable e-commerce store with about $1k? Do you guys have any tips, tricks and/or suggestions for me?
Thanks for your help!
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