Pros:
– Purses are a timeless product, meaning there will always be customers looking for new bags.
– You can make money in the short term as well as the long term by selling both new items and vintage or secondhand pieces.
– There is a wide variety of purses and bags available, so you can cater to many different styles, tastes and budgets.
– It’s relatively easy to find wholesale suppliers who will provide good quality products at competitive prices.
– You can create unique product lines by adding your own personal touch to the designs or manufacturing materials.
Cons:
– There is plenty of competition in the purse industry, so it can be difficult to stand out from other sellers.
– It’s important to keep up with the latest trends and designs, which can require a lot of research.
– You may need to invest in marketing or advertising if you want to reach more customers.
– Purses can be expensive items, so you may have to offer discounts or financing options to attract buyers.
– Depending on the type of purses you’re selling, you may need to ensure they meet certain quality standards and safety regulations.
– Finding reliable suppliers can be a challenge and shipping costs can quickly add up.
– It’s necessary to keep track of inventory, pricing and other customer service tasks.
– There are costs associated with setting up your store, such as website hosting fees, credit card processing fees, etc.
– You may need to hire additional staff or outsource certain tasks in order to keep up with demand.