To make more money working from home and attain a work-life balance that is family-focused, many people have started small businesses from home. While there are many options in home-based businesses that provide the flexibility and financial freedom people are looking for, one option growing in popularity is selling customer return products.
Through companies like Direct Liquidation, you can buy pallets of products that have been returned by companies like Amazon, Target, and Walmart. These are recently sold items that may be broken, missing pieces, dented, or are perfectly fine. The products are sold by the pallet, so you aren’t able to examine individual products before buying. What does this mean? It means you may have a pallet full of perfectly good, top-quality products ready to be resold at a sizable profit to you, or you may have a palet with defective products that you’ll practically give away.
Knowing the risks, you may be wondering if buying Amazon liquidation pallets is worth it. The simple answer is a resounding yes. However, there are a few asterisks to that assertion.
- Buying price
The price you pay for the pallet will dictate your potential profit. Even if the products are in like-new conditions, they are not new from the store, so you are not going to be able to sell them at retail prices. When purchasing a pallet, keep in mind the potential profit. You need to be able to sell the products at reasonable prices with room to haggle because buyers will want to negotiate. You also need to take into consideration selling fees if you utilize websites like eBay or Paypal for your sales and transactions. You need to consider the fact that buying a pallet of products sight unseen means you may end up with stuff you are unable to sell. Finally, you need to consider your time and effort. Your time is valuable. The goal of starting a business from home is most often to create a better work-life balance. If you are investing a great deal of time into this venture, but still not making enough money to be financially independent, then you need to relook at your buying and selling prices.
- Quality of products
When you buy products by the pallet or through an auction, you will not be able to inspect individual products. However, the better quality of the products, the more money you will be able to get for them. If themes to the pallets are available, you can choose to buy pallets that have products that are easier to sell. For example, electronic accessories, video game accessories, and phone accessories are going to be reasonably easy to move and ship if you are hoping to sell entirely online. The more experience you get in buying and selling, the easier it will be for you to identify what sells better.
- Ability to resell
Your ability to resell the items is crucial to the success of your new operation. You need to be motivated and ready to start posting when you get your pallets of products. Get your selling sites and accounts set up first, and be prepared with a camera, laptop, and reliable internet access. Each ad you post needs to be detailed and provide clear, quality photos of the products from several angles. More pictures and information is always better when it comes to reselling products online. Communicate quickly and clearly with everyone that contacts you about a product, and be sure to let them know what other products you have available. Utilize the selling sites that make the most sense for the products you have for sale. For example, furniture is going to sell better on the Facebook Marketplace, while cell phone cases are going to sell better on eBay.
