Looking for a dealer mentor

[Capone]

Hey everyone,

I'm exploring the idea of becoming a metal detector dealer as a side gig. I see that Garret, Minelab, etc. have dealer applications available.

Is anyone out there willing to give me some tips, suggestions? General comments? I looked for a thread with this topic but didn't find anything.

My first and most obvious question is, what is the typical profit margin per detector sold?

I'd appreciate any guidance.

 

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[Terry Soloman]

First, you need to do some research on existing dealers in your area. Without a solid client list you won't last a year. Advertising, and keeping machines, coils, and related items in stock will cost you thousands of dollars up front, and take you - most likely, a couple of years to pay for. Have you thought about acting as an agent for a current dealer? Selling for a percentage where the dealer drop ships and you train the new hobbiest? This worked vey well for me over the years. Today, it is impossible to compete against the Internet, unless you have an established location and dozens of return customers.

 

[CreakyDigger]

Back in the 1980's I worked for a man who added metal detectors to an already-established business. The metal detectors were a complete sideline - they had nothing to do with his regular business. He bought 5 or 6 Whites machines and advertised in the phone book (this was before the internet). He made more money renting machines than selling new ones. He kept a couple of very simple detectors that were idiot-proof and would rent them out to people looking for property stakes, pipes, lost keys - usually not for coin or relics. He made a few bucks on the side but it was just a hobby business.

 

[Treasure_Hunter]

Also major manufactures restrict how many dealers are in a certain area so they do not compete against each other so you need to check and see if there are any dealers in your area.

 

[crashbandicoot]

Hi man! It's fantastic you want to try a new side job. Like was said, it's crucial to have a firm client list. I see you're looking for a mentor. You definitely should be prudent where you find him. Be sure it's reputable and highly regarded.

Welcome to the site alexisrenjohn!

 

[alloy_II]

Hey everyone,

I'm exploring the idea of becoming a metal detector dealer as a side gig. I see that Garret, Minelab, etc. have dealer applications available.

Is anyone out there willing to give me some tips, suggestions? General comments? I looked for a thread with this topic but didn't find anything.

My first and most obvious question is, what is the typical profit margin per detector sold?

I'd appreciate any guidance.

Go with the manufacture willing to drop ship, this way you're not required to hold inventory.