The activity of buying and reselling stuff at a profit has been going on for centuries and it can only get bigger and better if the present techniques being used are anything to go by. The word ‘stuff’ in this context has been used to describe all that you can buy and resell at a profit including items as diverse as antiques, automobiles, books, clothing, art, movies, furniture…the list is almost infinite.
Before you start on this activity as a serious money-making venture it will be vital to establish where you will source your stuff and where you will sell it off profitably. The latter is not so much of an issue because websites like eBay have really revolutionized the concept of auction selling. The former is what needs to be expounded upon and ideas for the same are provided here:
Sourcing Your Stuff from Manufacturers
One of the foremost things you have to do as you get into buying and reselling stuff profitably is to ensure that you get your supplies at the cheapest prices possible. Getting the stuff direct from a manufacturer is a sure way to pay the least and therefore stand a chance of getting profitable returns. There is however a bottleneck in going this way – there is a small chance of you getting through to big manufacturers – here you will have to contend with a complex chain of supply that forms a ladder back to the source.
Buying and reselling stuff made by a small manufacturer is a more feasible idea; it is also a good way to get unique stuff. Such manufacturers (well, some of them) will want to know what your intentions are more so if your target market is the eBay community. In such a case, it would be prudent to create a website to which you can refer them.
Buying and Reselling Stuff from Wholesalers
There are a lot of wholesalers out there and online, genuine and scamming ones, whose business is to buy in bulk from manufacturers and then resell portions of the same to buyers. This is another viable sourcing alternative but the problem is that you are more or less bound to contend with other sellers who buy from the same source. Again, you really have to be careful with scammers who purport to sell books full of possible wholesalers’ and manufacturers’ contacts.
Using Liquidation Sources
Liquidators will prove a useful source for your ‘buy and resell at a profit’ inventory. By definition, liquidators are persons or firms that deal with the reselling of damaged, returned, or failed (thanks to discontinuation or overstocking) items. However, there are some liquidators who will offer you completely new stuff. There are many such establishments online which you can contact including: www.liquidation.com, www.wholesalehub.com, surplus.net, www.wholesalegopher.com and www.greatrep.com.
Buy and Resell Stuff Courtesy of the Classified Ads
One of the best and most practical ways to make purchases and at good rates is by checking the classified ads. You can use offline resources like your local dailies or you can go online to sources like www.thewantad.com or www.craigslist.com. The advantage of using classified ads as you source is that many of the people offering the stuff are basically yearning to finalize a sale – you can therefore make a pretty good negotiated deal for what you are looking for. Chances are that the person/seller could be just a short distance away.
You can be more proactive with this buying and selling option by listing yourself as a prospective buyer for certain types of items. This will also give you extra clout in negotiating the price down.
Sourcing Stuff from Thrift Shops
These two locations have also been the source of many a winning ‘buy and resell at a profit’ item. It is no doubt that they are gaining in popularity and have as such warranted the placement of ads in local dailies. With this notion in mind you will be greatly advantaged if you arrive at such a venue early enough. Experience shows that visiting a sale in an affluent neighborhood holds greater potential for success. The logic behind this observation is simple – it is in such neighborhoods where quality stuff is often discarded to make way for newer alternatives.
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