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June 27, 2023 9:25 am
Starting a reselling business of any fast-moving consumer good is a great business idea. Reselling consumer electronics will remain one of the most profitable businesses to start.
In this article, you will find some tips on how to becoming an electronics reseller and how to make profit. But first, why you should consider becoming an electronics reseller?
REASONS FOR BECOMING A CONSUMER ELECTRONICS RESELLER
High demand
Electronics have always been in high demand, and in the past year, there has been a higher surge in this demand. People need electronics more and more in their lives and are looking for bargains when shopping for them, so this market is here to stay.
Vast range
The electronics market offers one of the vastest range of categories. You can opt to resell anything from television sets, smartphones, laptops, home appliances, and many others.
Profitable margins
Electronics offer profitable margins; even more so, you are in charge of setting your margins as a reseller. You can price your products to ensure that your resale business is profitable. However, you should research the industry standards for pricing these products.
TIPS FOR RESELLING CONSUMER ELECTRONICS
So you know this inventory is in-demand, but how do you start reselling? And what are some best practices to follow? Consider the tips below for reselling consumer electronics.
Read carefully the product condition description, so you know what you are getting. It’s ultimately up to you, as a buyer, to read and understand each liquidator’s conditions. Once you know what type of merchandise you are dealing with, you will be prepared to sort and get it ready for sale.
Be aware of any particular reselling rules from the retailer/manufacturer you’re purchasing from. In some cases, retailers or manufacturers will not allow you to resell the inventory in certain geographic locations, online sites etc. You can find these specific restrictions in a liquidator’s Terms & Conditions section (usually located at the bottom of the page).
To be profitable, you have to know what margins you’re looking for. It doesn’t make sense to overpay on an inventory to then have to sell it for far lower than retail value. You want to maintain at least a certain margin of profit to make the effort of sourcing inventory, receiving, photographing, and listing it for resale worth it. Remember to factor in then cost to ship it out to your customers.
To determine what margins you’re after, use the manifest to do current market research so you know what the product is currently selling for. That way you can see how much potential profit there is for you by the time you factor in costs like shipping.
Up the amount of inventory you purchase at once and buy a full truckload of consumer electronics! Some liquidators offer free shipping in Europe when you buy a full truck.
Whether you make the repairs yourself or have a repair technician you work with, consider repairs and refurbishing as an option in order to resell consumer electronics for an even higher profit. Usually, refurbishers tend to buy in bulk.
Sourcing consumer electronics through ARLL is super easy! You can now buy directly from our platform the best consumer electronics.
ARLL is here to help you choose the right inventory and navigate your new business, so you can start making profit quickly. Check out all our offers here.