How to Make Money Online? Sell Liquidated Goods
If you are looking to create an extra income stream that you can manage during your spare time after work or over the weekend, you could buy in bulk for resale on various e-commerce websites. With the increasing number of internet users and online shoppers, the potential customer base is growing each day.
The number of internet users in India alone is expected to grow from 243 million in 2014 to over 730 million in 2020, and more and more Asian countries are looking to buy online and import US products.
Your goal is to set up a small business, create an account on Amazon or eBay and start listing merchandise. Online sales don’t require you to have a physical store or a storage space, you can run the business from the comfort of your home. And after you list the merchandise online and set up an advertising campaign, a part of the job that follows mostly gets done without you having to watch it all the time.
But before you jump into a new online sales business, there are some steps you need to follow, to give yourself the best chance of success.
Business Plan, Market Research, Products To Sell
When setting up your business, besides doing the state mandated regulatory work, you have to create your own plan of action. This will greatly be helped if you do thorough market research. The focus of the research should be to understand the market dynamics and to uncover any undersupplied niche segments.
Finding such niche markets will make it easier for you to narrow down the number or the type of products you will be selling. Although books and electronics are the most sought after products by the American shoppers, these markets are on the oversupplied side. This means that the competition is fierce and you are less likely to make it against more experienced sellers who have already built a reputation.
This is why finding products that are in demand but lacking supply are the way to go. Once you pinpoint such products it is time to start the search for the merchandise. The logic and maybe the experience will tell you that wholesale merchandise is something you should be looking at. You could buy pallets of all sorts of merchandise from a wholesaler, and in truth, you will be getting a discount on the number of products you buy. However, once you take to the internet to sell your products, you will find that the prices are less retail and a lot closer to wholesale. This presents a specific challenge to a newcomer or anyone trying to make money online by buying through wholesale suppliers. It is because your profit margin, no matter how good your deal with the wholesaler was, is probably not that great, even if it is just a hobby.
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The products you should be looking at are liquidated products. Bare with us here because liquidations used to get a bad rep due to the poor quality of merchandise on offer. And deservedly so, even now the majority of merchandise sold through liquidation websites is used, or scrap. But things have changed as businesses evolve and the market demands quality in every aspect. Liquidators have upped their game and retailers have joined the party. This all bodes well for you as the ultimate buyer because, you get to buy merchandise at prices below typical wholesale, securing a healthy profit margin once you put the merchandise up for sale.
So, wholesale suppliers are not the sources you are looking for, you should rather look to buy liquidated merchandise through the online platforms.
Sourcing Merchandise for Your Online Business
Liquidation auction sites are set up a bit differently from the wholesalers since, unlike wholesalers, liquidators don’t buy or own all the merchandise listed at their websites. These are offered directly by retailers or manufacturers that sell their overstock pallets, shelf pulls or refurbished merchandise under exclusive contracts with liquidators.
The likes of Walmart and Amazon have been among the first to take advantage of this platform. With the throughput these retailers have, a significant portion of merchandise gets returned. Now, Amazon return items can vary in quality but this does not have to mean that you are never able to buy brand new merchandise. On the contrary, there is plenty of brand new product out there being returned, and you may even get your hands on Amazon overstock merchandise that was never sold in the first place.
And even if you are looking for Walmart auctions and are looking to buy wholesale pallets Walmart has on offer, you are in the right place at a platform such as Direct Liquidation. Why? Because it is one of the most reputable platforms out there respected by the likes of Amazon, Walmart, Target and many more. If you ever wondered how to buy Amazon return pallets, just go visit Direct Liquidation.
With these names in play you are not really having to worry about the quality of merchandise. In essence, shelf pulls, overstock pallets are brand new products that never left the stores. but even if you are buying Amazon return pallets, you can find plenty of quality merchandise. This is because nowadays retailers have dedicated liquidation departments that go over the returned merchandise, refurbish a lot of it, repack it and get it ready for liquidation. The confidence in the quality of the merchandise is reflected in the extended warranty you are getting as well as a full money-back guarantee on refurbished items. If you are looking to buy in bulk for resale this is a great option to use as leverage for gaining a bigger market share.
Additionally, you can always look for a manifest which shows you exactly the type, the quantity and the condition of the merchandise within each pallet so you know what you are buying. And all this at a price well below wholesale.
How does this affect you? Well, it puts you in the pole position.
You have already found an undersupplied market and now you have secured a source of cheap, high-quality merchandise to cover the demand. This means you will have less competition and don’t have to set too low of a price which would eat away at your profit margin.
Direct Liquidation is a goTRG company.
Jordan currently works as a sales representative for Direct Liquidation, assisting businesses with product sourcing of liquidated merchandise from the largest retailers in the world. Whether you are looking for a pallet or a truckload Jordan is here to help you grow your business.
View Jordan’s Bio on YouTube.
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