Many people are successfully starting their online resale businesses with liquidated merchandise. It has become a quickly growing area of interest and a small business idea that has allowed people to work from home and create their own schedules. You do need some internet knowledge and social media savviness to quickly create a successful resale business, but there’s nothing you can’t learn — there are endless resources and tutorials available. There are also software solutions and consultants who you can employ to get you started or to maintain a high volume of business with ease.
Here are a few ideas to start an online resale business without the stress and overwhelming nature of a traditional business.
Make sure you have the capacity before you get started
The last thing you want to do is buy a truckload of merchandise pallets out of excitement, and then realize you have nowhere to put them. If you have a garage or outbuilding you plan on using, get measurements of total space, storage shelves, and a work area figured out and organized. If you do not have space on your property, consider renting a storage unit or small warehouse space that will allow you to set up your business. Renting space means taking on expenses from the start, which can be minimal, but it is something you need to consider. Before you get started, determine the amount of money you’re able to invest into your new business, create a budget, and stick to it.
Learn more about the product options
Direct Liquidation offers wholesale liquidation pallets from a range of different businesses, including Target, Walmart, and Amazon. The pallets are a mix of products that have been returned by customers. Buying returned products means some may be broken, defective, or have missing pieces. Not everything you buy will be nice enough to resell. However, that is the risk you will need to take to get loads of returned merchandise you can sell and make a profit. Go to the Direct Liquidation website to learn about their buying policies, so you know exactly what you are getting into.
Get organized and stay organized
Once you have several pallets of merchandise in your workspace, it will be easy to get overwhelmed by the sheer amount of stuff. Overwhelming feelings can be paralyzing and mean your business is not getting off on the right foot. Be prepared with help when those first pallets reach your door. Have shelving, scales, a work area, and an organization system prepared before buying pallets, so that when they arrive, you are mentally and physically prepared for the inventory and to store everything until it can be posted and sold. You should also lay out your selling process. Each item will need to be inspected, photographed, and described for the sales ad.
Figure out the tools that will be most effective for you
There is a wide range of online and offline tools you can utilize to make your new business run more efficiently. The tools you choose to use will depend, in part, on how much work you want to take on personally. For example, you may keep your inventory in a simple excel file, but as your business grows, this will no longer be an efficient method for your tracking. Plan for the size of business you want to grow as opposed to the size you are starting. Look into a virtual call center solution, so you can create a company that can run without you needing to answer and respond to every inquiry. Adding a call center will allow you to make multiple sales every day without being glued to your phone. Call center software makes this an easy and effective solution.
