Have you ever thought to yourself, I could use some extra cash but I just don’t know where to begin? Or perhaps you always wanted a money-making side hustle, but want to do it from the comfort of your own home. If so, this article is for you! Whether you are a stay-at-home parent, a college student, or a retiree you can make money by reselling liquidated merchandise. You can start small and grow into a full-time business in a relatively short period of time. You don’t need to make a huge investment to get started either. There are many taking advantage of this lucrative industry today, however, it still remains relatively unknown to the general public.
What kind of merchandise can you expect? You may think these pallets consist of junk, but that is not the case. While there are customer returns, many of these returns are either brand new or in like-new condition. Additionally, there are products pulled from store shelves that are liquidated because they are seasonal or branding changes made to the packaging. You too can benefit from buying this merchandise. It is that merchandise that people want, and you are buying it at prices significantly below retail. This allows you to set your selling price below retail, save your customers money, and still make a profit. You may even keep some products for yourself, instead of buying from a retail store at a much higher price, saving you money. Regardless, it is a win-win situation.
You can focus on selling specific types of items such as toys, health & beauty, electronics, apparel, and more. Some find this appealing because they understand the products better. Most people, however, prefer selling general merchandise because it appeals to wider customer base. By saving your customers money you are likely to gain repeat customers. These repeat customers will be regularly checking to see what other deals you have. This organic growth has the potential to become a full-time business. The best part is you control the pace at which it grows based on how much activity and energy you put into it.
Before you get started, you need to consider if you are planning to sell locally, ship, or both. Based on the strategy that best fits you, this decision will ultimately go a long way in determining what type of products you will focus on selling. For example, if you are going to be primarily shipping products, you would likely want to stay away from buying large liquidation merchandise such as furniture.
Wholesale liquidation can benefit you in many ways and can become a lucrative business. With just a small investment, an internet connection, and an entrepreneurial mindset, you too will find the success others have.
So how do you get started? Our next article will give you some good tips on how you can start your own wholesale liquidation business.