Newsflash
Sign up for a free account to take advantage of all the new features and to be able to post in the forums. There have been over 33,000 logged entries in the forums since 1998.  Check out the Fun and Magazine Stores.
 
Welcome, 1 kB
FireBoard
Welcome, Guest
Please Login or Register.    Lost Password?
Re:Question on starting a business? (1 viewing) (1) Guest
Go to bottom Post Reply Favoured: 0
TOPIC: Re:Question on starting a business?
#10677
Vdub (User)
Fresh Boarder
Posts: 3
graphgraph
User Offline Click here to see the profile of this user
Question on starting a business? 1 Year ago Karma: 0  

I am really excited about the prospect of raising worms and have had a small stack system. I have been researching and I was wondering if anyone had heard of the Ecology Technology(eco-tech or ecologytek.com) company? It seems like a solid system and a great way to start with all info in one place. I would love some scoop on the program. Thank you inadvance..
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#10745
WistarWorms (User)
Gold Boarder
Posts: 201
graphgraph
User Offline Click here to see the profile of this user
Re:Question on starting a business? 11 Months, 4 Weeks ago Karma: 1  
My first thought after reading the info on the website is BUYER BEWARE!!

A lot of things about this company make the hairs on the back of my neck stand up.

1) No option to pay with a credit card or by Paypal. Buyer has no outside protection if the sale goes wrong.

2) Reproduction rates and feeding rates are grossly misstated. Wigglers take about 4 months not 40 days to double their numbers. I have yet to see worms consume their body weight in food every day. It's more like 3 times their body weight in a week.

3) Buy back at only $10 per pound and having the grower bear the cost of shipping does not leave a lot of money for overhead costs. You would have to develop your own market to make this work.

4) Price of the bin unit is very high. You would be much better off making your own bin(s) out of wood or plastic totes.

5) Sounds as slick as every other "Get Rich Quick" business I have every heard or seen. It's a lot of pumped up claims and they neglect to tell you any of the down sides. Basicly "Smoke & Mirrors".

Anyone interested in this business plan would be well advised to keep their eyes open & do loads of research. May be worth the $25 to order the instructional DVD to get a better sense of how the company works. As long as you keep in mind that their purpose is to seal the deal with you. So please be careful and don't risk any money you can't afford to lose unless you are absolutely sure you have a market for you worms.
 
Report to moderator   Logged Logged  
 
We Are WORM - Resistance Is Futile!
Buddy
Vermadoo Farms
Richmond, VA
  The administrator has disabled public write access.
#10746
digger51 (User)
Senior Boarder
Posts: 69
graphgraph
User Offline Click here to see the profile of this user
Re:Question on starting a business? 11 Months, 4 Weeks ago Karma: 2  
I bought my worms in 2006 and made my investment back in 2007. Thought it would really take off so I invested more money buying wood to expand. Then the economy took a turn and I have not made any money.
This spring I started cutting back on my worms because they are not selling and it is costing me money to go and find feed. Maybe it is just me but I find that the demand is no longer there. If I was you I would just buy enough for myself and hold off on any major investment at this time


Digger
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#10747
mikel (User)
Platinum Boarder
Posts: 372
graphgraph
User Online Now Click here to see the profile of this user
Gender: Male Red Wigglers Composting Location: Georgia Birthdate: 1977-10-21
Re:Question on starting a business? 11 Months, 4 Weeks ago Karma: 4  
I agree with WistarWorms sounds shady. You can get more money than $10 a pound yourself. I'm concerned with anything that is a buy back program.

It sort of reminds me of the catfish ponds where the company or companies would buy your catfish by the pound. Alot of people built catfish ponds and made some decent money in the short run but eventually so many people were selling catfish that the bottom fell out. Very little money was made if any and all the catfish ponds that I know have all been drained.
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#10749
Vdub (User)
Fresh Boarder
Posts: 3
graphgraph
User Offline Click here to see the profile of this user
Re:Question on starting a business? 11 Months, 3 Weeks ago Karma: 0  
thanks for the good advice! Will continue to research!
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#10750
WistarWorms (User)
Gold Boarder
Posts: 201
graphgraph
User Offline Click here to see the profile of this user
Re:Question on starting a business? 11 Months, 3 Weeks ago Karma: 1  
Hey Vdub,

You did not say & no one asked, but have you every raised worms? If not, I would suggest you get your feet wet first before taking the plunge into deep water.

Make you own small bin from a plastic tote, wooden shipping container or one of the pre-fab on-line bins and stock it with 1 - 2 pounds of wigglers and give yourself about a year to work out all the kinks. If your worms are still around after a year, you probably have gathered enough experience to expand your operation if you wish.

Don't be afraid to ask questions if you run into problems. We're all here to help and there is of course lots of info on the internet. YouTube also has lots of good information.

Worm farming really is a "Learn By Doing" operation. Best of luck!
 
Report to moderator   Logged Logged  
 
We Are WORM - Resistance Is Futile!
Buddy
Vermadoo Farms
Richmond, VA
  The administrator has disabled public write access.
Go to top Post Reply
Powered by FireBoardget the latest posts directly to your desktop
Site and contents are © 2008 EarthWormDigest.org. All Rights Reserved.
Earth Worm Digest is a Public Non-Profit 501(c)3 Organization.
1455 East 185th Street, Cleveland, OH 44110
Office telephone and fax 216-531-5374