Hey guys, I have a nice side hustle idea for you guys today. This side hustle is creating a product and bundling items to create an outdoor light hanging kit.
Recently my girlfriend bought some of these outdoor lights to hang above our patio. These lights don't come with any hardware to hang them so your on your own for that part. After several unsuccessful trips to the hardware store looking for items to hang these lights it occured to me that if someone were to sell a kit and save consumers the hassle of running through the isles of Home Depot trying to find hardware to Jimmy Wrig something together, I think it would probably be a hit.
This product has very little competition. There's really only 2 serious sellers selling anything similar to this and IMHO their product is really low quality. They are also charging $39 and $45 and the cost of materials is probably under $5.
The two main sellers currently selling these kits on Amazon are selling over 100 units per month so I would estimate their profits conservatively at about $3,000 to $4,000 per month.
To me the beauty of this idea is that you really don't even need to order any inventory. If you want to you could buy the hardware in bulk and make even bigger margins, however you could even not buy anything, list your product bundle on Amazon or eBay or a Shopify store for sale, and if a customer buys one you run on over to Home Depot, buy the parts, send to the customer and just buy inventory piece by piece as you make sales.
If the product winds up taking off and you begin to sell consistantly then maybe you think about buying some inventory and pre-assembling these kits.
Now the downside to this idea is it's a very small niche. There's only one use for these kits and it's hanging outdoor lights. It's also a seasonal business for the most part. That said it's still really attractive to me because there's huge margins, low competition, and this is something where you don't need a big outlay of money to get started.
What do you think?