There is a basic economic principle that underpins the whole process of buying items in bulk and then reselling them. And this principle is simply that, when bought in large quantities, the price of each individual item can be significantly slashed. Then, when reselling those same items individually, a price much closer to the actual individual value can be charged. Sell them all, and you have made a profit. So much is obvious.
But, of course, this then begs the question, “why isn’t everybody doing it?” There is a basic reason for this too. Of course, the difference between a wholesale purchase and reselling is that, while both are working with the exact same products or goods, the wholesaler sells a lot to one person in a single transaction. In order to sell on the goods, a reseller must reach many more buyers – and it is herein that the challenges arise.
For those resellers who own a physical outlet, such as a store or some other physical location, their necessary market reach takes the form of the customers coming and going. For those who wish to resell online, that market reach needs to be grown.
And, like all things in business, doing so can take a little time and money. The first step, undoubtedly, is to increase customer traffic to your e-commerce site. However, even at the very beginning, it is necessary to be selling something. Otherwise, customers will simply be approaching a website with nothing to sell – and they will be unlikely to come back.
But when your online business is still small and growing – and you perhaps do not have the funds to be reselling an inventory as large as you would like – it is best to begin with the cheapest products available for wholesale. This is the place to start.
The Best Wholesale Products to Resell
So what products fit that bill? Well, there are far too many potential products that are good for reselling on a small scale for any list to be exhaustive. And, of course, it all depends very much on what type of business you hope to grow and where your expertise lies. Nevertheless, here are some of the most popular choices for beginners.
Books, Magazines and Other Print Media
Print media is an excellent choice for beginners. The wide appeal of things like books, comics, and magazines means that you are straightaway going after a large customer base. They are not too expensive either, but you may have to keep an eye on resellers’ rights.
One of the most popular “impulse buy” additions to ordinary newsdealers, grocery stores, and 7/11s is a rack or stand selling inexpensive eyewear. Despite what many people think, these glasses are typically of quite high quality and are usually very popular. The potential for online reselling is significant too. Companies like Salt Lake City’s Olympic Eyewear offer wholesale sunglasses which come in a great variety. This would allow you to offer your customers a broad choice from only a single wholesale order.
Clothing and Jewelry
And if choice, when you perhaps do not have enough capital for many orders, is a priority for you (as it should be) another great option is to resell clothing and jewelry. There are very low startup costs here and a massive market to tap into.
Reselling is ultimately a great option if production of an original product or good is not an option for you. And as things grow, there is always the opportunity to expand your inventory. E-commerce is not booming for nothing.