Turning Your Hobby into a Businesss : Tortoise Pet Hobby Shop
Lessons learnt from a Tortoise Seller : Part 1, the beginning of a Business Idea
Most people might be thinking of what industries or types of products they could come up as their business idea. One of the ways to get your business idea is to discover how to turn your hobbies into profits.
While watching a Chinese entrepreneur story on TV, I was impressed by how well this young man in China started his business. For this story, I will use the AIDA concept (Awareness, Interest, Desire, Action).
He loved keeping tortoise, and one day, his beloved tortoise died. Then, he started shopping for a replacement pet. At this point, he decided that he wanted to start a pet shop selling tortoise, in a pet selling district in Beijing. When he started, he was the only shop there. However, most people were interested in getting cats or dogs as their pets, therefore, he knew that he needed to create “Awareness”. He then started displaying tortoises outside his shop, and started feeding them. Many passer bys were attracted by how the tortoises were eating vegetables, and therefore started to enter into his shop with the “Interest” to discover more.
Since it was a new type of hobby for many, he had to introduced those prospects to the types of tortoises available, ranging from a few dollars to ten thousands dollars renminbi. He allowed the prospects to feed the tortoise, and after having the interaction, customers then had the Desire to own the new pet. Therefore, customers took Action and made the purchase. At many instances, parents would buy a pair of tortoises for their kids.
After 6 months, he made profits of over RMB40,000 (about US$5,000). By then, competitors started coming up with new tortoise shops and that resulted in a price war.
What new business strategies did this entrepreneur in China launch to turnaround his shop? Look out for upcoming business blog postings tomorrow.
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