How to start a business reselling liquidation goods

December 19, 2022 10:27 am

Do you want to start your own business and make a profit quickly, but you lack a big capital to start with? There is a solution to fulfilling your dream and it doesn’t require a big bank loan to begin. You can start reselling liquidation merchandise.

What is liquidation merchandise?

In the world of business, liquidation is the process that a business uses to pay their debts by selling their goods and assets. A liquidation company buys the goods at a discount and then resells them to the public. Many of these products are brand name goods from companies whose names are very familiar with consumers.

Liquidation reselling really works, but it’s not a get-rich-quick scheme. It is easier than you think to become your own boss, and you don’t need to quit your current job to get started. If you have some space for storage, and some free time, you can get started for a few hundred dollars as an initial investment, and work from home.

Read below, as we will walk you through the steps of starting your business and give you helpful tools to help manage it.

  • First step is to think about the money you can commit to your new liquidation business. You won’t need a huge amount of money to get started, but you will need to have at least some amount of funds available to purchase your first inventory.
  • Make a business plan so that you know the cost of doing business. Make sure you consider the inventory, shipping expenses, help, equipment, etc.
  • Conduct market research. Through this you will learn who your customers are and adjust your marketing tactics to them.
  • Research the business. Understand the options you have for selling so that you know the processes, rules, fees, etc.
  • Find a reputable liquidator. This is crucial when you enter the world of liquidation, as a reliable liquidator can offer you support and tools to get your business going.
  • Research your competition. It is a must to be competitive to keep your inventory moving.
  • Provide great customer service in order to establish a good reputation. If you are consistent, responsive, and engaging, you will get good reviews and people will want to buy from you.
  • Know what you are buying before you do it. Research the pricing, conditions, colors, models, etc. for each lot before placing an order.
  • Learn condition codes. Each company will label the conditions of their products differently, so be sure you know that those are before bidding.
  • Have a plan for shipping goods. You need to consider transportation and know whether you will be responsible for shipping the items you purchase to you or if your supplier will be. Add the cost of shipping into the final price.

Eventually, after you did all the above and acquired your inventory, you are finally ready to resell. By now you should have already scoped and researched where you can sell your goods You can choose to sell on an online marketplace – online is a great place to begin reselling. If you want to eliminate shipping costs and keep your business local, you could sell your goods in a brick-and-mortar store, thrift shop, or flea market.

ARLL Group of Companies offers the best quality services in Europe and you can be assured of consistent inventory and fast shipping. We can handle large quantities of liquidated merchandise and we have the best client service. Click here to find out who we are and what are the advantages of working with us!

If you want to work with us, contact us, and we will be happy to help!

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