Written by SaleHoo.com
© All Rights Reserved
I’ve got my idea - now where do I go?
Not sure where to turn to find your stock? The best idea
is to find a couple of supply sources for your items so that if one dries up
during a busy period, you won’t be left high and dry.
1. Garage Sales
Garage sales can be a great opportunity to pick up
potentially valuable items selling for pennies. However, they do require a
regular time commitment and a lot of patience! You’ll quite likely travel around
5-8 sales before you find anything suitable. Going around garage sales requires
planning and rising early. The best idea is to look through the morning papers
as soon as they arrive. Plan your route to make most efficient use of your time
so that you are not doubling back. Make a list of items you would like to find
and the maximum amount you would pay to make a profit. And finally, don’t forget
to take cash! Take small bills and some change as most garage sale owners only
have a small amount on hand. It’s a waste of everyone’s time if you have to race
down to the ATM machine. Garage sales can be useful sources, but they rely on
luck and have a high time cost per item. Thus, serious sellers don’t rely on
garage sales as their sole provider.
2. Liquidation
sales
Liquidation sales are a fantastic way of finding
brand-name items at enormous discounts. Check your newspapers and look for sales
in your area. Before buying from a liquidator check to see why the goods are
being sold. Most of the time liquidation sales take place for legitimate reasons
such as company bankruptcy, store relocation and so on. However, it always pays
to check as you don’t want to end up with a pile of stock you can’t shift.
Another thing - don’t bother with liquidation stock that is outside the scope of
your business. There is no point buying liquidation bicycle equipment just
because it’s cheap when you only sell jewelry.
Alternatively, you can find liquidation sites on the
Internet - one such site is Liquidation.com
. These sites make it extremely easy to buy liquidation, particularly if you
live in an outlying area. One thing - just make sure that the possibility of
damaged stock and used or returned items included in the lots is small or
non-existent.
Liquidation sales are a great way to supplement your
stock, but they can’t be relied upon to restock the shelves.
3. Estate sales
Estate sales can be a goldmine for anyone selling
jewelry, vintage clothing, books, furniture and so on. Once again, you need to
have an idea of how much you can afford to spend before you go. Don’t forget to
buy items your customers would like, rather simply getting caught up in your own
enthusiasm for what is for sale. Note that estate sales run by an agent are
unlikely to garner the same bargains as one run by the family.
4. Clearance stores
At certain times of the year, most major stores will
have a stock clear-out sale. Some of these sales give you the opportunity to buy
goods 50% or more below the regular retail value. This can be a fantastic
opportunity to find items to sell - or replenish your stocks. Good clearance
sales can be equal to or even below a good wholesale price. Don’t forget to
overlook small hobby shops in your area with clearance sales either. If you know
the store is going to have clearance sales regularly, then this can be one
method of getting stock.
5. Wholesalers
Wholesalers are the most reliable method of sourcing
goods. While the initial process can be time consuming at first, it is effort
that pays off. When you have found a wholesale, you now have certainty of when
you are going to receive stock and how much you will have to pay for it. The
best way to find wholesalers is to use a directory. Directories remove the risk
of dealing with illegitimate wholesalers and give you some peace of mind when
dealing with wholesalers and manufacturers from China. Wholesalers should be the
mainstay behind your product sourcing.
About the Author:
SaleHoo is one of the fastest growing product sourcing portals on the internet.
It contains a database of drop ship, wholesale, closeout and manufacturing
suppliers offering thousands of product suppliers to consumers! Located at http:www.salehoo.com,
visitors are allowed to sign up for unlimited and lifetime access to the
completely searchable database of products and suppliers. The database is
regularly updated, ensuring that the latest retail products are always available
for purchase and SaleHoo carries the BBB Reliability Seal!
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