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May 10, 2023 10:07 am
Being a reseller comes with a lot of benefits, one of them is that you are your own boss. But, in a constantly changing industry, how can you make sure your business stands out? Whether you just launched your reselling business a few months or 3 years ago, there’s never a bad time to refresh your business plan.
Read below to find out the best tips to help you grow your business.
1. Understand your market
With reselling taking place around the world, understanding the market is more important than ever. Customer needs evolve constantly, so staying up to date on inventory demand and what’s “in” is essential to rising above. Find a few trusted sources and do your research constantly.
2. Know your limits
Set a price range and source items within it to help generate a better ROI (Return on Investment). This helps ensure you don’t spend more than you can afford. It also allows you to make a profit—even if it’s just a small one—on the first set of items you purchase to resell.
3. How you present your products matters
When selling online, a picture is worth a thousand words. If your picture doesn’t stand out, shoppers will likely scroll right past your listing. The more your customer can visualize your product, the better. This helps customers make informed purchases, especially for items in used condition. So, take photos that both capture the details of your items and show them in the best light. We also recommend using your own photos for your listings instead of general stock photos.
If you sell your products in a store, make sure they are visible on shelves. You can also unbox a product, so your customers can see it better.
4. Details are important
When selling online, describe your item accurately in the description section of your listing. Make sure you include the condition, size, color, material and brand. Note any possible faults/damage. This way your customer knows exactly what to expect when they’re shopping, and there won’t be any surprises when their order arrives.
5. Market yourself
Market yourself by making your presence known across social media platforms. Social media is a great way to promote your business for free! If you’re just starting out, we recommend creating a business page on Facebook, Linkedin, YouTube, and Instagram. Use your business name on all platforms and be consistent, so your customers can quickly locate you.
6. Give your customers a top experience
When your customers have a great experience purchasing from you, they’re more likely to shop again and spread the word to their friends. Show you care by quickly responding to questions, making sure your product description and actual product match, and even following up with customers. These small yet impactful actions can help keep customers coming back to your store.
7. Stay organized
It’s important to come up with sourcing, selling, and inventory systems that work best for you and your business. When it comes to finding places to source from, make a list of the type of inventory you want to sell. Do you want a few pallets or a truckload? ARLL Group of Companies has a large assortment of inventory across various categories, and you can easily purchase different size job lots directly on our website. So whether you’re a beginner or a pro, you’ll be able to source the inventory you need for your business.
Once you’ve secured your inventory, you’ll want to establish a sorting system so you know what items you have and where you can find them once they sell. This will allow you to ship your orders out quickly, which will improve your customer experience. Also, make sure you’re keeping up with your books, so you can measure your ROI and track the success of specific inventory categories.
We hope these 7 tips to grow your reselling business were helpful! ARLL is here to help you choose the right inventory, navigate your business and increase your profit quickly. Click here to find the products you need!