Posted by Alex Jackson on 8th Mar 2019
Ready to start selling liquidation merchandise? If so, great you have come to the right place, and we have the tools and merchandise you need to get your business started on the right foot. In our last blog entry we talked about how you can get answers to those important questions you may have about buying and reselling liquidation merchandise, and today we are going to continue on this theme and this time answer some of the most common questions of the first time reseller.
What should I sell?- Often aspiring entrepreneurs will have a great business idea, the tools, and know how to get their business established but be stumped by one simple question like what should I sell? With a plethora of categories and options, it can sometimes be tough to decide. What I usually advise is if you are uncertain, sell something you are passionate about. The reason being is that it takes time and effort to establish your business and if you are excited about what you are selling it will inspire you to give it that extra effort needed to get your business established. Love handbags? Sell handbags. Shoes more your thing? sell those! You will be amazed just how much useful information you already have about selling your merchandise by just having that passion for the items you sell.
How much inventory do I need?- Now for novice resellers, it’s not uncommon to wonder just how much inventory you will need and while there is no simple answer to this question keep this in mind. Your goal is to rapidly build up a sizable amount of inventory and to have it continually selling generating steady cash flow. What’s a healthy amount for a start as an online retailer? Several hundred units, brick and mortar retailer? Several thousand, anything less than this you will not be able to establish that constant flow of sales your business needs to grow.
Where do I sell?- Anywhere you can! It’s that simple do not rule out any possible sales avenue for your merchandise. Online(eBay, Poshmark, Facebook, Amazon and more), traditional brick and mortar and if you don’t have a physical storefront find someone that does that offers consignment. With spring approaching think about informal channels like flea markets, festivals, and yard sales. Be willing and able to give any options a try; there is nothing better than to have multiple sales channels for your merchandise.
When is the right time to start?- the adage, “there’s no time like the present” is your answer. You are ready, and now is the right time to start, how do I know this? Because you’re here reading this post. Don’t let your doubts paralyze you, the time to act is right now.