Diversity is the key to success. How many times have you heard that phrase? Most notably used when investing for your future, the old adage, “don’t place all of your eggs in one basket” rings true when reselling wholesale liquidation merchandise.
Buying and reselling wholesale liquidation merchandise can be a daunting task because quantities are so limited; as a reseller, your stock will always fluctuate and re-ordering a particular quantity of any one item is next to impossible. Here today, gone tomorrow.
In addition to limited quantities of any one particular item, you will encounter items which represent a great resell value, but might not fit into your selling venue. For example, eBay is a great place to resell high end brand names, but how does a savvy eBay reseller auction lessor known brands and or items fit for a a flea market setting? Reselling diversification is the answer. You must have several markets to resell merchandise.
You might be scratching your head asking, “What do you mean by several markets?”. By several markets I mean “sales channels” or other opportunities for you, as a small seller, to make additional money.
Let me give you an example and introduce you to a company called Recovery Management Corporation. RMC purchases lost cargo shipments, unclaimed freight, manufacturer and distributor overstocks, and close-out merchandise and then resells through several channels including retail outlets, online and through live auction events.
Take a look at the retail side of RMC, Cargo Largo, which sells on eBay, Amazon and most recently, Craigslist. Spend some time on their website following links to Cargo Largo’s eBay store, Amazon page and Craigslist listings. Now this is reselling diversification!
Does it cost money to create several sales channels, yes and no. You biggest investment will be time researching different markets. If you are selling on eBay currently, take a look at Amazon as another option. Take the time to check out Craigslist, which gives you another exciting way to reach local customers! Maybe holding a silent or live auction in your hometown will prove to be a viable source for revenue you might be leaving on the table, unclaimed?
Move past a single channel for reselling and ask yourself how diversification can create more cash flow for your business?
The Liquidators Guide! - 121 pages of purchasing information & liquidation sources in a fact-filled guide that wholesalers and liquidation brokers do not want you to get your hands on! I have been buying and reselling wholesale liquidation merchandise for ten years...and I am going to share my knowledge with you!
NEW - How to Broker Liquidations – Start making money brokering liquidation merchandise! Our newest guide reveals all the steps needed to start a lucrative business brokering customer returns, shelf pulls, and salvage merchandise! Start this business right from home with our 168 Page Guide filled with industry secrets.