How To Choose The Right Product for the Right Market
A major part of evaluating home business opportunities is determining if the product the entrepreneur wants to sell is marketable, if the market is saturated, and what a competitive asking price might be.
Even if someone wants to start a home business opportunity that is not Internet based but rather marketed in the local area, an online auction vendor or aggregator site is still a great way to determine what is out there in the industry, and what the going price is.
Rule of thumb, according to online merchant experts, is to price the item at about two thirds of what the major online auction sites are asking for the same or similar item, or 65 percent of the top bid over the past sixty days. In evaluating home business opportunities for local sales the buyer must take into consideration that the local cost of living can alter the asking price. Market research for evaluating home business opportunities in this case would weigh most heavily on other local competitors in the industry.
Some of the standard procedures an entrepreneur should do in evaluating home business opportunities are to check both...