I'm Thinking On Opening a Website (Electronic Parts Flea Market)

Discussion in 'Off-Topic' started by ajm113, Jun 11, 2011.

  1. ajm113

    Thread Starter Member

    Feb 19, 2011
    176
    5
    Hello all, I'm thinking on creating a new website as a side project that is directly for electronics engineers that wish to trade/sell their parts in a dynamic and safer and free environment then ebay.

    Here is a business model I had for the website:

    * Free listing of parts/items (Including able to upload images).

    * Invite ONLY (Users will have to receive a invite to be a user if they wish to invite them selfs they will have to ask me or another "trusted" user)

    * Online transaction support. (Paypal, etc...)

    * Website would only take %2 of the profit you make when you sold a item.

    * Sell/trade anything from wires, cable, electronic parts (Microcontrollers, LEDs, Resisters, etc...), electronics, testing equipment, books.

    * User security system (IP Logger, User Reporting, User Information would be stored encrypted)

    The domain name I want to choose for the website would be called:
    circuitbay.net

    I haven't really started any design or real process of the website except the business model and seeing feedback on it. I'm hopping if I do get enough users is to be able to add coupon codes from affiliates such as maybe jameco.com you can get by going on the website and selling/trading stuff.

    So what would you guys think if a website such as this went up and what would you change about the business model?

    Encase if your wondering whats the difference between this and the Flea market on the forum. I want to add a dynamic and more secure feel to it. So you have a better idea of who your buying from and know what your getting. (Such as required fields such as condition, how long was it used, datasheet source, and faster/easier searching of what you are looking for.)
     
    Last edited: Jun 11, 2011
  2. magnet18

    Senior Member

    Dec 22, 2010
    1,232
    124
    Sounds like a good idea, go for it.
     
  3. Lightfire

    Well-Known Member

    Oct 5, 2010
    690
    21
    I guess I can give you a brief lessons on how to do that properly and professionaly. :) Yay!!!
     
  4. ajm113

    Thread Starter Member

    Feb 19, 2011
    176
    5
    @Lightfire Oh? Sounds good! Go ahead I'm all eyes! :)
     
  5. loosewire

    AAC Fanatic!

    Apr 25, 2008
    1,584
    435
    Is . net not a problem and Is there a market out there worth sitting up paypal
    account and all the security you need for people to buy on line. You don't see
    alot of part sales on the internet,it is talked about alot but no sales.
    Do you have facts to back up your plan.
     
  6. someonesdad

    Senior Member

    Jul 7, 2009
    1,585
    141
    I think it's a great idea and would be a nice service. If the thing takes off, you're going to want to deal with more stuff besides components and you may change your allowed users, business models, and policies. Those changes can really torque some users off, so you've got to think things through well ahead of time.

    You'll also want to spend a goodly amount of time on your policies and make people adhere to them. I predict the biggest headache will be where two people don't have a successful transaction and one of them puts up a stink. It will take energy (perhaps lots) to resolve such things. Grown people can often be so childish...

    Also get how you're going to charge people money completely ironed out and state it up front. And don't be changing the thing all the time -- that also torques people off because they think you're trying for more profit (charges ALWAYS go up, never down). Oh, and since you said you'll just take 2% of profit, then I'll let you know that anything I sell always cost me $0.01 less than I sold it for. So I'm gonna have to sell lots of things before I ever owe you a penny. :p (In other words, you better make sure you understand what you said...)

    I'd suggest another name; you don't want to get in a fight with ebay over a name, even if you're right (they can afford the fight; you can't).
     
  7. ajm113

    Thread Starter Member

    Feb 19, 2011
    176
    5
    @loosewire, well my backup plane is to expand the allowed list of items you can trade or sell to people, such as materials(Plastic boxes, pipes, metals, etc) Thats all I have for right now.

    I may remove the invite only (not as a backup plan). I wanted that too keep out spammers or anything that would assault the website, but keeping it so everyone can sign up will make it have more profit, because of easier registration and friendlier access. The only problem is the website is more vulnerable to spam attacks.

    I will add a few feature to cut it back. (Type what you see, limit so the user can't post something within 3 minutes(No human that I know of can add a post that fast) )


    @someonesdad Thanks, well I believe like I said up in this post I'll add more flexibility to the users and guest's who wish to register.

    Well I'll add more planning to the business model and add case situations of user error or code error if something happens that canceled the transaction or messed it up. I'll post policies of the website when I get a chance here so I can get a good review and have a better understand whats missing or whats wrong or what inflicts one thing to another. I may change it so if your product is more then $2.00 and less then $100.00 I take out 2% of profit of it. If it's more then $200.00 I can take out 5% of profit you made. And if the product is lower then or equal $2.00 there is a $0.02 cent fee.

    I'm still going to work out a system for products you want to sell lower then $2.00 so you still make a profit. So don't mind the 0.02 cent fee for right now I'm going to work that in somewhere so you can maybe still gain 100% profit off it, but I also still make money from the really cheap items your selling.

    Idea I came up with: I may add a option for buyers to easily find local/closer traders for faster and cheaper shipping costs. So lets say you live in Australia you can still use the website to find Australia traders only for faster service and cheaper shipping or if price is not a issue you can see who's trader everywhere.

    I'm open to any other domain name ideas too and I'm all eyes on opinions on the domain names. :)
     
    Last edited: Jun 12, 2011
  8. JoeJester

    AAC Fanatic!

    Apr 26, 2005
    3,373
    1,159
    You should rephrase that. 2% of the profit will require the user to give you the cost or basis of the item they are selling.

    Most agents, like paypal, have a set dollar amount plus a percentage of the sale.

    Working out the money details will be challenging.
     
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