If you’re thinking of reselling products but have no idea where to begin then check out these three simple steps which will see you on your way to becoming a lucrative wholesale buyer!
Decide Your Stock
Thinking of reselling products to make a profit? Well the first thing you will need to do is assess what kind of products you want to sell. If you want to start a business and work on it full time then it’s probably worth stocking a variety of products as having a number of products in your portfolio should lead to steady sales throughout the year. Search for popular seasonal products and stock up according to the time of year. For example umbrellas and boots will sell well in the winter and swimwear and designer sunglasses will probably sell well during the summer. But if you are thinking of buying wholesale as a hobby and as a way of making some extra cash then it may just be worth focusing on buying job lots of popular products. We’ve seen some wholesalers offering great deals on bulk buys of tablet computers and games consoles and as these items are constantly sought after by consumers, it could be worth concentrating on selling one particular item at a time if you’re doing this on the side.
Once you have decided what products you want to sell you now need to find them at wholesale prices. The easiest way to do this is to contact wholesale suppliers, as these offer most products at well below the RRP. Use our wholesale directory to find wholesalers. Some stock can be found at over 50% off the RRP – to gain the best prices you usually have to buy in bulk so if you want the best deals be prepared to invest.
Once you have secured stock at wholesale prices you now need to resell it! Most wholesale buyers will use sites like eBay, Gumtree and Amazon to resell stock as it’s one of the easiest and cost effective ways to resell products. There are minimal listing fees required and you can upload your product pictures and details almost immediately. If you want to make a full-time business out of wholesale buying it may be worth investing in your own eCommerce website eventually. There are other ways you can resell your products too including at markets and at car boot sales.