A popular way to make money these days is to purchase products from wholesale vendors for a cheap price and reselling them for a profit. Sometimes it’s difficult to find websites that ship wholesale good for an affordable price. This article will show you where to buy bargain goods wholesale prices, as well as what the buy and how to sell it.
Possibly the most reliable way of finding good deals on wholesale goods is at trade shows. The vendors at trade shows generally have honest and competitive prices, whereas the popular online bulk sellers often ask for the highest price. Use a search engine to find trade shows selling your products. Don’t forget to verify that they are a legitimate business, as frauds are common in the world of wholesale.
If you’re still looking where to buy wholesale tools, warehouse clubs, such as BJ’s or Costco, are another great option. They often offer a wide variety of products, have wide business hours, and rarely run out of stock. This is especially a good choice for those who already have a warehouse club membership, as well as those who are just getting started in the business of reselling. Many of these clubs have items in stock that items that are difficult to find elsewhere, which means less competition when selling the products back for a higher price.
As for the product itself: that’s completely up to you. The most popular products are usually saturated with many competitors – jewelry, watches, clothes, etc. You may be able to compete with the larger sellers if you choose to sell one of these products, though it won’t be easy. It’s recommended you start with something more obscure, yet profitable – construction materials and equipment, chemicals, electrical equipment, minerals, industrial equipment and supplies, plastics and rubbers, safety or security equipment, textiles, and office supplies are all good options.
Start with a specific item, and branch out from there.
Once you’re up and running with your item, and it starts selling, move on to another similar item, and so on. Slow but steady diversification is key.
Getting merchandise to resell is the easy part. I use Discount Store Returns for all my wholesale pallet tool needs. Now you have to sell them. The easiest way to do this is through eBay. The only downside with eBay is that the listing fees will cut into your margins (not to mention the PayPal fees). Unless you can afford to sell at high margins and still attract customers, it’s recommended you find another retailer, such as Amazon, to sell your goods. The best option is to sell your products locally using websites such as craigslist. Eventually, however, you will want to create your own website to sell your products on, and focus on advertising for that.
All in all, reselling wholesale products is a steady, reliable way of earning money on your own. And remember – the money’s in the margins!