Believe it or not, you can easily turn liquidated products into a six-figure income.
Selling items from liquidation pallets can mean big profits for those who know how to do it right. These five tips from the pros will ensure that you do.
Amazon, eBay, and other online platforms are great places to sell your inventory. Understanding which products sell best on each platform is key. Don't be afraid to check out your competitors and experiment with your listings.
Know your Platform
Many new sellers make the mistake of not charging enough for shipping. You'll develop your own system soon enough.
Don't get Stuck with Shipping
But in the meantime, consider packaging your product as if you were shipping it and take it to the post office or UPS for an estimate. It doesn't have to be exact. Just ask how much it would cost to ship it a few states away.
While this might sound weird, your money is made in the purchase. In other words, the less you pay for the merchandise, the bigger your profit margin.
You make your Money When you Buy the Product
Treat your Business like a Business
In order to be successful in selling liquidation pallets, it's important that you treat it like a business and not a hobby. This means keeping excellent records, charging enough for your products, and practicing good customer service.
Do your Research
This applies to both purchasing and selling. Know who you're buying your liquidation pallets from and who your target market is when it's time to sell.
Selling liquidation pallets is one of the best ways to venture out into owning your own business. And it can also be a fun and profitable way to make a living.