Thinking about getting into the hoverboard business? It is easy to see why so many people are interested in such a proposition. Hoverboards seem to be everywhere these days, and a smart businessperson known to strike when the iron is hot. If you are thinking about getting into the business there are many things you should consider. Let’s look at some of the benefits of becoming hoverboard dealer.
A good opportunity for entrepreneurship
We are living in the age of entrepreneurship. All around us people are talking about and advocating for entrepreneurship. Gone are the days when people hoped they would be able to start a career and retire in the same field. People are no longer expecting to work at the same place for a decade. Until a few decades ago if you were in the same company for more than 10 years people congratulated you on such a stable career. Now people ask why you are stagnating. The culture has changed, thanks to the changing economic realities.
There was a time when a job was all you needed. Having a job meant you will be able to afford payments on a house. It meant you will be able to raise a family. It meant you would have the money to send your kids to college once they are old enough. And It meant having job security and not worrying about how you will support your family.
All that has changed in the past decade or so. The economy is a lot more shaky. You cannot depend on a company to keep you as an employee for 10 years. We have seen ‘downsizing’, also known as firing people regardless of their performance, happen all around us. Having a job now does not mean you will be able to send your kids to college or buy a house. Only really good jobs allow you to do that, normal jobs do not.
That is why we are living in the age of entrepreneurship. People have finally realized that being someone else’s employee your whole life is not a good choice. If you have realized the same thing then we must congratulate you. Starting your own thing is one of the best decisions you will make in your life. You will be your own boss and you will be able to earn much more than you could have ever dreamed of earning from a job. You just have to do it the right way if you want to succeed.
Entrepreneurship is all about opportunity
How does entrepreneurship link with hoverboards? That is very simple. The easiest way to become a successful entrepreneur is to serve a need that is unfulfilled. Successful entrepreneurs are those people who started their business at the right time. The importance of time cannot be overstated when it comes to entrepreneurship. Look at Google. Do you think anyone can create a search engine now and become more popular than Google? It is almost impossible unless Google messes up majorly.
Google is what it is because of when it started. The same is true for most successful companies in the planet. Apple launched the iPhone at the perfect time. Microsoft released DOS, Windows, and Office at the perfect time.
If you start a business too early it fails to get customers and dies out. There were many media streaming companies before YouTube and Netflix. They didn’t succeed because people simply didn’t have the right internet connections. You cannot stream a video over dialup. If you are old enough you are having flashbacks right now to Real Player buffering a video every 5 seconds, and even then the video was so blurry that you could barely make out what was happening in it. YouTube, on the other hand, started just as broadband started to become affordable and benefited greatly from it.
If you launch a business too late you have so much competition that you cannot make any ground. Look at Nokia entering the smartphone market 5 years after everyone else. Look at Microsoft launching Zune 4 years too late. They waited too long and by the time they entered the market the competition was too strong for them to deal with. This is true for anyone entering the app business these days. Launching a social media app now means you will have to battle behemoths like Instagram, Snapchat, Facebook, and Twitter. All these companies started at the right time.
That is what makes hoverboards so important right now.
Are hoverboards a fad?
It is very dangerous to invest in fads. Whenever a trend starts everyone starts selling the trendy item. The problem is that fads only have a life of a few months and then they die out, leaving all the late entrants into the market with a loss. Remember fidget spinners? How they were everywhere? Well, thousands of companies started making fidget spinners, but by then fidget spinners were no longer popular. You can go to any toy store around you and find hundreds of fidget spinners on sale at a discount because no one wants them anymore. That is why you should stay away from fads unless you have an opportunity to get in when the fad is in its beginning stages.
That is why it is important to see whether hoverboards are a fad. If they are a fad then you should not invest in them. One of the first signs of being a fad is that the spread if very fast. People do not start to slowly adapt the thing, it just seems to be everywhere suddenly. This happened with fidget spinners, those rulers that snapped back, pet rocks, Tamagotchi ‘virtual pets’, and many other similar items. If you look at hoverboards they do seem to fit the trend. No one had even heard of hoverboards before 2016 but in 2016 holiday season they were everywhere.
While they fit the pattern, it is important to note that they became so popular instantly because they were the best gift item for the holiday season. However, becoming popular instantly isn’t the only way to mark something as a fad. Smartphones were also everywhere instantly, yet they did not turn out to be a fad at all.
The biggest way to determine whether something is a fad or not is to look at the how its sales chart looks. If something starts fast, grows huge, and then starts going down hard it is a fad. This is not happening with hoverboards at all. Aside from the brief period where hoverboards were banned they haven’t had a downturn in sales. People are not making fun of hoverboards and there is no negative stereotype attached to it.
The above two points may seem a bit odd, but it is important to remember that these two points ended up killing Segway. Segway was a company with deep pockets and they created a product that was built to last. Everything about the Segway was as high quality as can be. Yet they ended up becoming a joke. People made fun of Segway users, saying that they were too lazy to walk. A big reason is that Segway scooters looked ridiculous. The handle made them look like a walking podium of sorts. It was easy to see why everyone was making jokes about them. Late night TV talk shows, radio shows, sitcoms – everyone was making fun of the Segway. No one is going to spend money on Segway if they think it makes them look like a joke.
Hoverboards have not had the same fate and it is very easy to see why. When people look at hoverboards they do not think it is a Segway without a handle. No, they think of it is a motorized skateboard. Skateboards have always been considered cool. No one has ever thought using a skateboard will make them look dorky. Thus we can easily assume the same is true for hoverboards. When you ride a hoverboard you ride with your hands free, not holding a handle like you would with a Segway. There’s nothing visually ridiculous or hilarious about the sight, thus hoverboards are safe from this danger.
Will there be an age of hoverboards?
Okay, so hoverboards are not a fad, but how big will they be in the future? This is a very important question if you want to commit to selling hoverboards for a long time. If you just want to sell them for a year or two you shouldn’t worry about this, but if you are in this for the long term you need to think about this.
The reason this is important is because it determines how much you invest in it. If you think that in the future the hoverboard industry will grow just slightly then it doesn’t make much sense to invest a lot. On the other hand, if you think it will turn into a billion dollar industry then you need to invest as much as you can in it.
The true answer is that we do not know. We personally believe that hoverboards will become much more popular, and we have our reasons for it. Let’s look into why we think hoverboards will be much more popular in the future:
Unless you live right next to your office or school you need a way to get to it. Now let’s look at the many different ways one can get to their class or work. Public transport is easily the best way in most ways, the problem is that public transport isn’t really available everywhere. Aside from some dense urban environments there aren’t really good public transport options available to people. Often the bus stop is so far from your home and the bus stop you have to get off on is so far from your destination that public transport.
Compare buying a car to buying a hoverboard and you quickly realize that there isn’t even a comparison. You could probably buy 50 hoverboards at the average price of a new car. Hoverboards are also cheaper than bikes. Sure, you can get bicycles that are cheaper but you have to use your own energy to ride them. They are good for your health and are a productive way to get around but they make you tired. If your job requires physical labor you do not want to exhaust yourself on the way to work.
See why hoverboards are the future of commuting? They are so affordable that most people can buy them.
Ease of use
Hoverboards are the easiest personal mobility tool to learn and use. Remember how hard it was to drive a car in the beginning? We need classes and licenses for driving and still so many people drive the wrong way. Learning how to ride a bicycle is hard. It is easy once you get it but it seems impossible in the beginning. The same is true for motorcycles. Skateboards are hard too.
Hoverboards, on the other hand, only need a few minutes of practice. An hour of riding and you are practically a hoverboard expert. It is the easiest mobility device to pick up and learn. If you buy one for your family your whole family will know how to ride the hoverboard by the end of the day. It makes it easier to make it possible for everyone to be independent.
Hoverboards aren’t just easy to use, they are also the safest way to get around. Bicycles are unsafe unless you live in a place with bike lanes and even then someone may hit you. We all know how cars can be dangerous. Motorcycles may be the single most dangerous way to get anywhere. You are sitting completely unprotected on a machine that can run incredibly fast. One bump and you will be in the worst accident of your life.
Hoverboards, on the other hand, are very safe. Their top speed is 15mph. Do you know how much it hurts when you hit something at 15mph? It doesn’t hurt at all. The only thing you have to worry about is running into something and falling down, because falling down is the worst thing that can happen to you when you are on a hoverboard. You don’t have to worry about the cars around you. Hoverboards are used on the sidewalk, they aren’t on the road at all, so all the dangers of the roads are away from you.
This is a big one. It is much more responsible to travel on a hoverboard than it is to take a car. It is easy to see why. Just look at your car. It is a huge machine. Most of us travel to work alone. One whole car, with its powerful gas guzzling engine, and its incredible weight is just overkill to transport just one person. Think about how inefficient you are being if you take your car to work and if you go alone. If you have four other people sitting with you then it isn’t inefficient, but a whole car just for one person? It is definitely a bad use of the limited resources we have here on our planet. Motorbikes are much better but even they run on gas.
Hoverboards, on the other hand, are incredibly efficient. They move one person at a safe speed and that is it. They use the minimum amount of energy possible to make their battery last. You cannot find a better way to get around if you count environmental impact. Bicycles are better but that is simply because they don’t require power at all. There are no powered mobility solutions available that are more efficient than hoverboards. The amount of energy you use to go to the office one day in a car will easily be able to power more than a month of using a hoverboard to do the same. There isn’t even a comparison, there’s that much of a difference between the two.
What you need in order to be a successful Hoverboard Dealer
So we have covered why it is a good idea to become hoverboard dealer, let’s get into the how of it now. Becoming a dealer is very easy. You just have to open an offline or online store and get in touch with suppliers and hoverboard manufacturers to get some stock. However, becoming a successful hoverboard dealer may be a bit different.
The first thing you have to look at is branding. If you are simply a hoverboard dealer you are just selling hoverboards made by other companies. The problem is that this does not give you a unique selling point. Anyone else who starts selling hoverboards will also have the same stock as you do, so why will anyone pick you over the competitions? If you are the same as your competitors then the only way you can compete is on price.
You should never be competing on price alone. Sure, great pricing can be one of your selling points, but not your only selling point. The problem is that it is a race to the bottom, a war of attrition. You cut down your profit margin a bit, your competitor cuts it down a bit more, you again cut it down and so on. This continues until it is downright unprofitable to sell hoverboards and both you and your competition are incurring losses.
This is why you need to focus on branding. Branding is the act of giving your brand character, a certain personality. You need to set yourself apart and the best way to do it is to become a voice of authority for hoverboards. Most people do not know about hoverboards. They think hoverboards look cool but they have questions they would like to know the answer to before they purchase one. These people are looking for someone who can help them out.
If you become that person, if your brand becomes that company, then you will be able to sell a lot of hoverboards very quickly. Becoming an expert isn’t hard – it will hardly take a day or two of research on hoverboards. Just after a few hours of research you will know more about hoverboards than most people. If you dedicate a day or two you will know everything you need to know. These aren’t terribly complicated devices.
Digital Marketing is your best friend
Marketing is usually one of the biggest expenses of a company and it is unavoidable. Unless you go with digital marketing. Digital marketing is dirt cheap. Don’t believe us? Go to Facebook and start creating an ad. You will be able to reach thousands of people in just a few dollars. If you have the right branding all you have to do is bring it online. Maybe a Facebook page that is all about hoverboards and answers people’s questions about hoverboards? It will make you seem like the biggest expert about hoverboards, which will make people buy hoverboards from you instead of the competition.
Capitalize on this opportunity
This is the perfect time to become hoverboard dealer. You can choose what type of dealer you want to be. You can make a name for yourself before someone else does it. Think about it, if we ask you what the best place is for buying hoverboards, what answer do you have? Most people do not have an answer to this question. This means that there is no company right now which has been able to associate itself with hoverboard business properly. The opportunity exists for you to become that company, for your brand to become that brand. Entering the market right now gives you a shot at the top of the market – do not let this opportunity go. Just make sure that you are opening your store in an area where there is a lot of potential. Any urban place will do.