Any tips to create a successful group buy?

General Discussion
1

hi,

i want start a group buy and i would like to know the most important things to take care and don’t lose money with it.

I think people are grateful about:

  • transparency
  • frequent updates

can you give me some advice?

thanks

2

I would say under promise and over deliver. However long you think something will take, assume 20-30% delay. Expect problems, there will always be problems.

3

As organizer

  • take pictures of each packaging before sending
  • use shipping with tracking
  • do not give any estimates that aren’t depending on you
  • friends & family payments shouldn’t be forced but optional, normal PayPal option with fees included
  • do not even think of logging on to the forum and not checking your GB thread :smiley:
  • check out @Titoxd10001 group buys, I think they are some of the best examples of immaculate ones
5 Likes
4

We are no longer allowing friends and family payments in group buys on the forum, it leaves buyers too vulnerable if the seller is unable to fulfill an order.

@tueboard I think you’ve got the right idea; transparancy and frequent updates are a huge help. In general, members here are happy to wait as long as they know what the status of the order is. If there is a delay, make sure to explain it to put everyone at ease

2 Likes
5

Transparency is key. Alway wanna keep the buyer up-to-date and with all the information. Don’t hide anything, including profit, because if things get nasty, it will all come out.

Agree with basically everything @SilentException said. Also if the items are expensive or have taken so long to make, $2-3 dollar insurance for $500 coverage shouldn’t hurt. I did that for the first motor groupbuy I had. Some people bought $400 worth of motors, and so far no problems.

6

@tueboard you’ll be fine. You been in the community long enough to know the dos and don’ts …

Keep your group buy simple at first. Best advice I can give you.

7

Read the entire Alextech thread top to bottom. And then don’t do anything he did.

3 Likes
8

Thanks I try to keep all info up to date. Don’t make any timelines you can’t keep. Make sure to ship as soon as possible and give the buyers the tracking number.