Many are driven to sell, whether it’s to start a business or to just make some cash on the side. With the help of E-commerce it is easy to get started and begin making some side cash! Becoming a successful reseller doesn’t happen overnight, but with the right mentality and some time, patience and dedication, anyone can make it work. Here are some initial steps and processes you need to take in order to become a successful reseller.
Set Your Goals
Before you dive headfirst into the world of reselling, you need to decide where you want to take your small business. Will it remain a small side gig or do you plan to grow it into a functioning business? This decision will drastically alter how you plan to resell. Regardless of what goals you have in mind, it is essential for every reseller to ensure the products they are sourcing are profitable and in demand. All of your goals and strategies should be built around products with these characteristics. Resellers have no guarantee of making money, and even those who do must continuously find new products to sell. If your goal is to learn and grow as a business person, becoming a reseller is a great way to do it. Many resellers set up their operation as a side business to help pay the bills and give them extra income. However, There is plenty of opportunity for individuals to eventually make reselling a full time career.
Acquire Products To Sell
Once you’re set on the idea of reselling, it’s time to start acquiring products. You can always start small, and even begin by getting items through friends, family, community events, or even stored items of your own! Another option is to take advantage of discounts and purchase wholesale through sites such as Alibaba. Returned sellers like Boxed Returns are also a great way to acquire the cheapest items to resell. Return retailers like Boxed Returns quality check each of their products and price them based upon their condition. Not only does this give you cheap items but it also gives you a variety of price options to choose from based upon your budget. Large retailers like Amazon also sell returned items, due to their size their returned items are usually not checked as extensively and may not actually reflect the given condition.
Where To Sell
After you’ve acquired products to sell, the next step is to decide where to sell them. There are many options available, from personal resale platforms like eBay and Facebook Marketplace to retail sites such as Amazon and Walmart. Amazon FBA is certainly the most popular platform to resell amongst resellers with a larger operation and daily amount of sales. With this service Amazon provides your items will be sold on their site and they will handle the storage and transportation of your product! For smaller sellers and those just beginning platforms like eBay are perfect for you. There is no need for consistent selling and they have 0 requirements regarding the value or quantity of what you sell. With eBay you are in total control of your selling and can do so when convenient for you. Determine your selling frequency and sell on a platform best suited for that.
- Amazon FBA handles all shipping, this makes it a great platform for busy folks that want side income.
- Be sure to research each product you plan to resell before purchasing. Understanding product demand and price history is essential to making a profit.
- Take advantage of returned item resellers like boxed returns to get brand name items at a discounted price.
- Focus on selling products faster with social media and product research to scale your business.
Becoming a successful reseller takes time, patience and dedication. But if you're ready to be your own boss, start selling online. You'll need a thought out strategy, a way to list products, and a way to sell them. With the information we have provided, you are just about ready to become a reseller, it’s time to get started. Set a goal for how much you want to make, and what you want to achieve by the end of the year. The best way to become a successful reseller is to get started today, before you know it you’ll be shipping your first sale!