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In our modern era of communication through online social media and the ever-present smartphone, it has become a relatively simple task for just about anyone to almost instantly set-up and begin operating an online business. And, with the ease the internet has provided in linking wholesale suppliers with distributors, marketers and merchants looking to sell merchandise at mark-up to a retail market, the prospect of starting your own online business has never been more feasible to the average person.
With that being said, however, at least a little know-how is still required. Sure, you might have aspirations for starting a web business — perhaps starting your own online store – but, unless you’re already somewhat web savvy, and/or have done a small amount of research, there’s likely two areas that you may be experiencing confusion over. The first is: How, exactly, do I go about actually getting an online store, or other point of sale eCommerce mechanism set-up and running? To help you in this area, I recommend spending some time browsing all of the free information available at this great online resource: OnLineStoreHowTo.Com — In particular, check out their entirely free, step-by-step instructions detailed in their article: How To Open an Online Store Step by Step.
Once you’ve fully familiarized yourself with what, exactly, is needed in actually getting an online store up and running, and live on the internet, the second question you’re likely to have most probably has to do with actually stocking your online store. Where do you find your stock that you’re going to be selling to customers on your online store?
In fact, finding sources for at-or-below-wholesale goods that you can sell through your online store at a profitable mark-up is one of the most important tasks you’ll need to address in beginning your online business. Absolutely securing your sources is imperative to success. And, it’s an area where a lot of aspiring internet marketers fall short. Earning a respectable profit by selling merchandise online can be fairly easy, but you will absolutely need to have constant access to s reliable means of supply. It’s all dependent on that.
The most common route that most new online store retailers take is to locate reliable wholesale providers. Locating such providers these days is a relatively simple task. In order to source valuable wholesale merchandise from reliable wholesale providers, one might take advantage of professional services like an electronic wholesale sources lister, such as this one. One might try to locate and strike up relationships with individual wholesale suppliers directly, by doing internet searches for supplier’s websites or contact information and then contacting them directly. Or, as an alternative method for people looking to minimize risk and turn profits selling items at very high mark-up, one may turn to the method of sourcing goods through acquiring surplus inventory.
Due to the intermittent nature of the surplus industry, the standard business model for making money from acquiring surplus goods is basically: Buy when you can, and sell when and how you can. And, this traditional method works well for a lot of people. If you’re smart with your acquisitions then you can turn a tidy profit by taking advantage of the surplus industry in this way. But, if that’s not the business model you’re interested in — if, instead, you’re looking to retail items you’ve acquired as surplus with the high mark-ups that reselling surplus acquired items allows, through eCommerce, then you’re going to need a somewhat steady supply of such surplus acquired stock.
Acquiring surplus merchandise in such a way, with such a constancy that you’ve always got stock to move can be extremely challenging — especially if you’re just starting out in business. Your best bet is to take full advantage of a professional locating service. Using such a service will keep you fully informed of all potential stock buys that become available to you — without, of course, having to do any of the footwork yourself. You can investigate a couple of these services by clicking on this link, and another one is available at this link.
But, even if you do employ such services, it’s wise to always have a few wholesalers on your list of contacts as a back-up — as, due to the nature of the industry, you never know when you might hit a lean period with your regular surplus sources and new stock available for acquisition becomes scarce for a while.
One of the most common hurdles that all sales businesses must deal with and address when starting up is the challenge of securing a continually reliable product supply. This is especially true for those looking start a business buying and selling surplus merchandise. The nature of the surplus business is such that supplies of quality goods appropriate for resale are often quite intermittent in nature. Anyone interested in beginning a full or part time business that profits off of procuring surplus goods at low prices and reselling such items at a profit must take steps to reasonably ensure that they can achieve a satisfactory and reliable constant stream of new inventory. If your supply lines happen to run short for any appreciable length in time it could very well cause irreparable damage to your business. You need to make sure that you constantly have enough stock to get you through until your next big acquisition from your primary sources.
For the above mentioned reasons, savvy surplus traders are careful to diversify their supply origins. They’re careful to make sure that they have go-to backups in place. Hoping to achieve regular revenue by only attending government surplus or commercial surplus auctions in order to acquire low priced items for re-sale is fine if you’re just looking to earn extra money on the side. But, if your intention is to turn it into a sustainable part-time business or full-time business, putting all your eggs in that basket alone is likely to end up giving you some real problems. There will be times when supply runs lean, and you might often find yourself in a situation where you don’t have enough inventory to get you through to your next sizable acquisition of new inventory. When this happens, revenue dries up. And, of course, if the dry period lasts long enough, it could cause the business to fail before things once again turn around.
The savvy surplus dealer then is careful to diversify their avenues of inventory acquisition — turning not only to, for instance, surplus sources like government surplus auctions, but instead making sure the option of having connections to wholesalers, overstock or remainder traders, manufacturer direct sources, liquidators or salvage dealers to get them through periods where their mainstay sources might be running lean.
If you’re investigating the possibility of starting your own business in the surplus trade, remember this important advice. It is unwise to go into it thinking that you can be assured of maintaining a viable business in perpetuity just by purchasing surplus merchandise for resale from a single type of source — such as from government surplus auctions. Before committing yourself to starting up your business, you should really consider how and where you’re going to find secondary sources of supply should the need arise. You need to find, for instance, wholesalers who deal in items that your regular customer base is likely to be interested in.
So, if I were thinking about starting a business reselling goods that I had obtained at surplus auctions, I would make sure to fully utilize a service like this one to thoroughly investigate the availability of all potential suppliers that deal in items similar to what my surplus business is working with, in order to get me through lean re-stocking periods should such periods come about. That way, if my primary source of inventory acquisition dries up for a spell, I have secondary sources that I can turn to — secondary sources which may not provide the kind of markup that my primary sources do, but, nevertheless is sufficient to sustain my business through lean periods so that I do still have a business when I finally am able to locate the next fruitful surplus auction or sale to refresh my stock.