Buying-and-selling businesses are very popular these days maybe due to the appreciable amount of income businessmen in this field earn. In this kind of business, you need to find a wholesaler or supplier and you need to purchase items from them. In turn, you can resell these items at a slightly higher price, and earn income from there. If you are thinking about starting your own buy-and-sell business, the first thing you have to do is to find a good supplier.
Liquidation suppliers are good examples of suppliers who source their stocks from different avenues and resell them directly to retailers. They usually specialize in buying factory seconds, slow to move retail stocks, or items from stores that are going out of business.
Advantages of Buying from Liquidation Suppliers
Liquidation suppliers are a fantastic source of a variety of items as they rarely stock the same items regularly. You can surely offer unique items to your buyers. Moreover, they offer rock-bottom prices every time. Thus, you can obtain stocks at very low prices and resell them at a much higher price. This is very great especially for those who want to learn large amounts of money.
Disadvantages of Buying from Liquidation Suppliers
The downside of buying from liquidators is that they are not the most reliable source of stocks. There will be times that they will have an abundance of items to offer but there may also be times when they have very little stocks. Aside from this, most liquidation suppliers only sell by the pallet load and they have a “take it or leave it” policy. This means that you could be forced to buy an entire pallet of stocks that is barely sellable due to damages. Some sellers avoid liquidation suppliers because most of them require a large single order which can cost anywhere up to $5000, which is not really possible if you are just starting out.
Buying from liquidation suppliers is really a gamble. You can obtain some items that will sell like hot cakes but you can also get stocks that will barely be noticed by buyers. To get good-quality items, you need to find a good and reliable liquidation supplier. Here are some tips to help you find a liquidation supplier.
Do a Google Search
This is not the most recommended method but it can produce many options that you can choose from. There will be an overwhelming amount of results that will come up after you have conducted the search but you can narrow it down by searching for liquidation suppliers of a specific product. You can type ‘liquidation suppliers + computer monitor’ in the Google search box to filter the results.
While Google search is free, fast, and easy to use, it is not recommended for sellers who are inexperienced in dealing with suppliers because you can be led into a site that is owned by a scammer who can easily take your money and run off into cyberspace.
Use a Supplier Directory
This is probably one of the best and safest ways to find a liquidation supplier. The great thing about supplier directories is that the good ones actually verify the background information of all the suppliers in their directories, so you can be sure that they are all legitimate. However, be warned against using free directories. They are not very keen on checking the information of the suppliers in their list. In all my years of product sourcing, I have never encountered even a single free directory that lists legitimate suppliers. Be careful when a supplier site asks for any kind of payment because, chances are, they are scammers.
Look for Local Suppliers
Large cities often have a good number of liquidation suppliers. The good thing about this is that you can personally visit their warehouse and see that they are a real operating business. Their stocks are readily available so you can check whether they have the items you need. You can also check their legitimacy and business registration documents from your local government. Another benefit of obtaining stocks from local liquidation suppliers is that there will be low or no shipping costs at all. You can hire a U-Haul or even fit your stocks in your own vehicle, which is an advantage over your competitors. The only down side is that you probably will not be able to find a huge selection of liquidation suppliers locally even if you live in a large city.
Here are some other Wholesale Sourcing sites that I have found for you to browse. Thanks for visiting Sourcing-3.com.