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With the state of the economy currently being what it is, a large number of people have already gone into, or are looking toward going into, business for themselves. Due to the current difficulty many are experiencing in finding jobs, and with all of the layoffs that have become so common, the idea of self-employment is becoming exceedingly more attractive to many than it has been in the past. And, a route to such self-employment through the field of wholesale liquidation and the purchasing of general merchandise liquidation goods seems to have found favor with a good many people.
There are quite a number of reasons for this. One of the most prominent is the accessibility of the trade to the average person. Just about anyone can do it and earn money. You don’t need any sort of specialized training, nor any sort of degree. The average person can just get out there and start doing it, and start earning money. So open is it to the average person, that many start out in the field simply by selling general merchandise liquidation goods on places like eBay, or Craigslist, or perhaps at local flea-markets. Before long, after seeing that they are actually earning an attractive amount of extra cash via this method, and while actually finding enjoyment in doing so, such people often set their sites toward expanding their operations — that is, to acquiring a larger quantity of goods at wholesale liquidation prices, in more regular supply, and selling them off in greater capacity. They might begin to be interested in buying truckloads or entire pallets of general merchandise liquidation goods in order to increase the profits they’re earning for themselves, and turning their efforts into a viable and lucrative full-time business.
Anyone can purchase overstock items, retail goods that are known as “shelf-pulls”, or customer returned products from major retailers. Retailers will often sell-off these items at liquidation prices, and this should not be overlooked. Obtaining these types of items in this manner can present re-sale opportunities. High value, name-brand merchandise can often be acquired at below wholesale prices via such means, and can be re-sold at below-retail while still producing a profit. Merchandise that is obtained in such a manner can be sold on eBay or through other online means, through your own online store website, at flea-markets, local swap-meets, or any number of other methods. And, a good number of people are currently earning a comfortable living doing just this.
The general merchandise liquidation items offered through wholesale liquidation becomes available for sale for a number of different reasons. In some cases, for whatever reason, certain items don’t sell at retail. As such, retail traders wish to clear out inventory in order to make room for new inventory which they believe will move more quickly. So, they will liquidate such merchandise — allowing you to obtain it, often, at below wholesale prices. Quite regularly, however, goods that are no longer selling well through retail means will still sell well to end-customers at wholesale, or even at above wholesale but below retail prices. Since you obtained the merchandise below wholesale — at a wholesale liquidation cost — a profit is still there to be made.
Along with this, there is also the fact that a portion of inventory that many retail traders stock is seasonal in nature. The volume of sales for such items at retail fluctuates with the season. Any items the retailer was unable to move by the time the season is ending may be offered up at liquidation prices in order to clear room for off-season inventory. In such cases, this seasonal merchandise may be able to be snatched up at incredible, below wholesale discounts.
Other reasons for general merchandise being offered at wholesale liquidation prices include: Discontinuation of product lines, customs or shipping delays that result in the cancellation of retailer’s purchase orders, superficially damaged goods that can’t be sold retail-new, and many more. In all, however, the underlying reason for making items available at liquidation is to recoup money that would otherwise be tied up in stored inventory that the retailer is unable to move quickly enough for their liking through their established retail sales methods. Instead of absorbing a total loss for such items, they’ll sell off the goods at a fraction of the item’s market value in order to regain some level of return on their purchase of the goods.
All that is required on the part of one looking to get into the business of re-selling wholesale liquidation general merchandise is to locate such purchasing opportunities, and then move the items acquired at below-retail discounts to end-customers.
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.