Tips for Growing Your Reseller Business Using Wholesale Products

Do you have a small reseller business, or are you thinking about starting one? It can be a good option, and it has the potential to provide you with great profits, so long as you are running it like a proper business. The following are some easy to follow, but very important, tips that can help you grow your business and become more successful.

Find a Specialty

Unless you are going to be a general reseller, you will find that you can have the best success when you find a certain niche and specialize. There is no “right” niche when it comes to reselling. Many people find success financially and professionally when they choose a field that interests them and that they know already.

For example, if you love to work on cars in your spare time, you might want to start reselling automotive parts. If you enjoy fashion, then you might want to buy and resell wholesale clothing and accessories. Those who have an interest in consumer electronics can follow that niche. Just about everyone will find something that interests them and that they could do a good job with when it comes to reselling. 

You Need a Website

Even though you might be selling through many different channels, it is usually a good idea to have a website set up, as well. You can then sell directly to your customers, and it gives potential buyers yet another avenue of finding your business. Of course, you need to make sure the site is set up properly for it to be effective.

This means it should be easy to navigate, you should have quality photos and descriptions of the items you are selling, and the buying process through your site should be straightforward. Of course, if you do not want to sell directly through your site, you could link the products to the other channels where you sell. Just make it clear to the customers that if they buy, they will be leaving your site and going to the other channel.

Consider just how many people are now shopping through their phones and tablets when they are on the go. You need to have a mobile website that will allow them to have access to the same great information and products that are on your regular website.

Having a fast load time, a good layout and color scheme, and easy navigation are essential elements you cannot forget. A good website will build trust with your customers, and that can translate to more sales.

In addition to the items that you have for sale on the site and information about your company, you should also consider adding a blog. The blog can cover new products that you are adding to the inventory, as well as more information on the products you offer and your niche in general. This will help to increase your SEO, and make it easier for people to find your site. It can also help you to be seen by others as an authority in your niche, whatever it might be.

Sell on Multiple Channels

Never confine yourself to just a single selling channel. You can find quite a few opportunities out there including Amazon, eBay, Shopify, Alibaba, and more, as well as your own website. Take the time to look up all the different potential channels through which you can sell, learn about their policies, what types of products you can sell, and how much of the sale will go to those companies when your products do sell. Find several, and be willing to experiment with some of the smaller options to see how they work for you. The more places you sell the more potential customers you will have.

Buy from Quality Wholesale Suppliers and Auctions

When you are buying your wholesale products to fill out your inventory, you want to be sure you are working with companies that are legitimate and that can provide you with the quality goods that you need. Research a lot of these suppliers and liquidation auctions to find out more about them, the types of products they can offer, and the typical prices for different lots of items. When you are looking up auctions, you can always look at past winning bids. This will give you a better idea of what you can expect when it comes to future auctions.

Consider Getting More Space for Inventory

Once you start selling products, and you can see your momentum increasing, it is natural to want to sell even more. One of the things that could hold you back is the amount of space you have available to store your goods while they are waiting to be sold. When just starting out, many people begin in their home and they store the goods in a garage. Eventually, you might need to rent a storage space, and when your company gets even larger, you can consider warehouse space.

However, do not overestimate your power to sell and start renting a large space and filling it up with inventory. Grow slowly and expand as needed.

Offer Good Prices on the Products You Sell

While this might seem like common sense, some of the new resellers out there are not pricing their items right. They are pricing the goods too close to retail price for brand new items. Most customers will see this and decide that they would rather spend a little extra and buy new. Other resellers are pricing their goods too low, and they are not making a profit, which means it will be very difficult for their business to grow.

You need to research the items you are selling and determine what prices they tend to sell for in their condition. Then, you can set your prices accordingly. Customers want to have good deals and you want to make money. Find the happy middle ground and price items there.

The reseller business has a lot of potential, and buying wholesale products is a perfect way to get started and to continue to grow your business. Just make sure you have a solid business plan that will help guide you along the way to success.

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Henley Johnson

Henley currently works as a sales representative for Direct Liquidation, assisting businesses with product sourcing of liquidated merchandise from the largest retailers in the world. Whether you are looking for a pallet or a truckload Henley is here to help you grow your business.

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