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Eureka Biz #1: Opportunity

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Blog entry by Nevins posted 02-09-2014 07:05 PM 717 reads 0 times favorited 2 comments Add to Favorites Watch
no previous part Part 1 of Eureka Biz series no next part

I’ve seen some pretty old posts so I decided to start a new one on Eureka biz opportunity. Mainly because I’m also interested in the opportunity and would like to here from anyone who has experience with this company. i enjoy working with my hands so even if you know of other opportunities please reply. i would like to explore all my options.

Thank you



2 comments so far

View scruboak51's profile

scruboak51

34 posts in 375 days


#1 posted 02-09-2014 11:26 PM

Well, you could give me $5,000. I’ll give you some crappy DIY/Craft plans I probably web-scraped for free. Next, I’ll outsource the telemarketing/robo-calls to India (for pennies) and use them to spam every business in a 100 mile radium. If I am lucky to get one to agree to re-sell your product, I’ll charge you 30% of full retail for every unit they tentatively agree to buy as my commission and pocket even more of your change.

The only person getting rich at Eureka is the owner and he is doing it by taking advantage of people who don’t know any better.

You want to make money wood-working, first figure out what you want to make, then calculate your cost of lumber and associate materials, also include general wear and tear. Next, calculate the time to make each piece at a reasonable wage (at least $10 hr). That’s your break even point… Can you easily sell it at double the cost? Would you purchase it at double the cost? If yes, then you’ve got a potentially successful product.

Take for example a simple owl box. Two can be made out of 1 sheet of plywood. So doing the math…

  • $40 – Material Cost (3/4 ext ply)
  • $5 – Gas and time to pick up at home store
  • $20 – Assembly cost Assume 1 hour per box for all cuts and assembly (this is very aggressive)
  • $6 – Material cost, hinges and screws)
  • $4 – Equipment wear and tear (drill bits, saw blades, sand paper, etc)

That leaves with with $75 dollars invested into two unfinished owl boxes.. If you spent the time to paint them, your cost goes up substantially. That mean’s you have to sell each box at a minimum of $40 to ‘break even’ Really you’ve got to sell them $60 to $80 for your business to make money, or you have to find a way to lower cost of materials; (or conversely build a higher end box and sell it for more).

That mindset is how your are going to be successful, not through some external party or company promising riches. You’ve got to cut out the middle man, find your niche and promote the heck out of yourself. That’s not for every-one (myself included)...

View doninvegas's profile

doninvegas

332 posts in 1545 days


#2 posted 02-10-2014 01:08 AM

I have been a Eureka producer since 2007. I started this to make a little extra money when my wife had to retire. I thought that since there are so many eastern transplants here in Vegas that there would sell really well. I was wrong. I battle all the time about wood being hard and not holding up to the elements. They do and they are comfortable to boot. It depends on your area and how you promote it. I did the best at home and garden shows until the economy tanked. You need to promote, promote. Put in the time and be willing to fight for every sale. Some producers make a good living at this. Also, find a different WRC supplier then Sunshine. I get my WRC from Reliance Products in Washington State.

-- "Courage is being scared to death -- but saddling up anyway."

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