Earn Extra Money from Home with Liquidation Auctions

Since the dawn of the Digital Age, sales have shifted from brick and mortar shops to online. E-commerce has seen a huge boom in the past few years, as more and more people have begun to move away from the traditional way of shopping, preferring the comfort of their homes, and the ease of their laptops and phones, over going out to visit stores. Not only has this trend greatly advantaged the buyers, but it has also brought along with it a number of tremendous opportunities for anyone looking to set up and own a wholesale buying and selling business. Due to the increasing amounts of imports from the US, internet users in Asian countries specifically in India are predicted to grow from 243 million in 2014 to 730 million by 2018, hence making the present time highly favorable for prospective business owners to familiarize themselves with liquidation.

Making Money from Home with Liquidation Auctions

Liquidation happens when a company or brand is selling its goods as a result of bankruptcy, legal judgment or the products being discontinued, overstocked or being customer returns which, as per law aren’t fit to be sold as ‘new’ again. This means that products end up being sold in liquidation auctions, where buyers have the chance to snap up quality items at steep discounts.

This might sound simple but successful wholesale liquidating requires patience and a little experience on your part. Check out different auctions, inspect and negotiate the items included in liquidation sales, where possible, and always double check manifests before making a purchase. Whatever you’re trying to market, it needs to at top-notch standard and lower in price because not only will that provide you with an edge over your competitors, but get you much-needed popularity and customer demand as well.

Lots of Potential

A career as a wholesale liquidator can be extremely fruitful, and this claim can be backed by the astounding statistics from the US alone, confirming the upward trend in small business activities, of which wholesaling is a part, and how small businesses have increased by 49% since 1942, and have created a staggering 65% of the net new jobs. Add to this the fact that nearly 54% of all US sales happen to be from such businesses; you will be reassured and encouraged to become a part of this now global market. International markets, such as India, are now also importing wholesale products from the US, due to this market.

Solving Problems

A few issues you might encounter when it comes to wholesale pallets and getting the products to their buyers in a period of 30 days after you get them are; overexposure, timely delivery and dealing with returns amongst others.

Rule of thumb, never buy too much from wholesale liquidators but always make sure you have enough in your inventory to cater to your clients. However, since making a place in the marketplace takes time, you’re advised to be patient, and start smaller. As for returned items, you can sell them as you bought them, at even cheaper rates on special sales. An effective way to reduce the 30% return rate of items bought online, would be to start off with items of good quality and establishing a friendly website with good customer service.

Not only would this bring you more traffic as it has been found that 34% of all shoppers prefer to use their smartphone to shop, but it will also ensure that any issues or mishaps involving your customers are sorted out at once.

With an initial investment of a little effort, insight and thorough research, you can be a proud owner of a thriving business from home. Good luck!

Considered Starting Your Own Business?

For a while now you have been considering your options to start your own business. However, you are not sure whether you want to quit your job completely and start from scratch, or if it would be something you’d run in your spare time or on the weekends.

 

Whatever the choices, the first step is to make the decision that you are starting. Have in mind that you are not alone, since, 1995, small businesses have had a significant impact on the U.S. economy contributing to the creating of over 65 percent of new jobs. There are over 28 million small establishments that run their business in the United States currently.

 

It has to be said, that although many starts each year, only half make it past the five-year mark without closing, so when you are making your decision, weigh your options carefully. To help you with your decision, here are a few tips on what to do and how to give yourself the best chance of success.

 

The Start

 

Make sure you know what you want to do because if you are simply following an impulse or a trend, you are likely to fail very fast. Make sure you do some market research, see how the market works, what segments are oversupplied, where are the potential undersupplied niche markets you could exploit, and which of these would you be comfortable to work in.

 

After setting your target on a market you have to complete all the state-mandated regulatory steps to make your business, however small it may be, a legitimate one. Once that step is complete it is time to source the merchandise you’d be dealing with. If for example, you are interested in buying wholesale electronics or any other wholesale products to sell online, you need to find reputable wholesale suppliers that offer ample supply at very low prices.

 

Buying wholesale products has long been a viable option for many online resellers, but over the recent years, prices of single products sold on Amazon or eBay are very close to wholesale prices, making it hard even for the sellers with favorable deals with wholesalers to stay competitive.

 

This means you have to find a way to take the wholesale suppliers out of that supply chain and go directly to the manufacturer. This, however, is easier said than done because manufacturers usually have high minimum purchase requirement, making it almost impossible for a small-business owner to get their hands on high-quality, brand new merchandise.

 

But almost is the key word here, because luckily there is a solution.

 

The Source

 

That solution is to purchase wholesale lots of merchandise through online liquidation auctions. First, find a reputable liquidator and register to their auction website. Then make sure you know the retail and wholesale prices of the products you intend to bid on as this will allow you to calculate your bidding limit, which you should never cross.

 

You will see that the bidding start and usually ends well below the wholesale price. This is achieved through exclusive contracts between liquidators and retailers and manufacturers. Under these contracts, liquidators don’t own the merchandise but it is actually being listed directly by the retailers and manufacturers, eliminating the need for wholesale suppliers and keeping the prices very low.

 

For you, this also means that the quality of the products is very high and that you are working with a healthy profit margin even if you have to list products at almost wholesale prices to stay competitive.

Wholesale Suppliers – 4 Warning Signs That a Wholesale Supplier is Probably Fake

The wholesale business is without doubt a massive source of income for so many companies. Thousands of people have made lots of money selling wholesale products online like silver, jewelry, clothes, bags, shoes, electronic items, and countless other products. By exercising due care and attention, they are able to find reliable and reputable wholesale suppliers. If you want your wholesale business to work, you must practice the same care in finding an appropriate supplier. Here are some signs to be careful of so that you don’t fall prey to fake suppliers.

Warning Sign No. 1 – The supplier has no particular contact information or office address.

If you cannot easily communicate the wholesale supplier and speak to them by phone or in person, this could mean that you are handling with fraudulent operators. A wholesaler who performs a legal business can be contacted very simply, especially because communication is important to their business working. Their website should give their entire office address, telephone number, and email address.

Warning Sign No. 2 – They cannot offer references, feedback, or reviews.

Ask your anticipated suppliers how long they have been in business. They should be able to give examples of previous customers. Legitimate wholesale suppliers can give you feedback and references from countless happy customers. If they cannot give you this, or if you cannot authenticate or verify the feedback and references they give, you should begin have real hesitation about the supplier. If you are not sure whether or not you are dealing with a legitimate business, you can either check their background online or on online forums, or else find another one for your own safety.

Warning Sign No. 3 – The wholesale supplier does not allow incorrect products to be returned.

If a product you ordered is found to be damaged, legitimate wholesale suppliers will readily allow you to give back the items and give you a replacement or refund. Suppliers who do not permit returns are most likely not legitimate. Stay from wholesalers like this.

Warning Sign No. 4 – The wholesaler cannot abide with changes to orders.

Some online retailers claim to be wholesale suppliers, even though they are commonly acting only as middlemen. You cannot get the shortest probable costs from such suppliers. If they cannot handle or allow last-minute changes with orders, there is a big chance that they are not true wholesale suppliers. Do not risk using companies like this.

Finding a reliable and legal wholesale supplier is important to some wholesale business. This is the only approach you can get quality products to sell at the lowest possible prices and benefit at the same time. Give your time to look carefully for a wholesale supplier you can assured of and you will be on your way to great accomplishments.

But that is not the only way to save money—most people who are buying wholesale products are doing their own research from the Internet and when they get a good supplier, they will call them directly and company prices are better compared to prices acquired via retailers.

Tips on Dealing With Wholesale Suppliers As a Sole Trader

With the modern state of the economy, where more and more people are falling their jobs, and making both ends meet is becoming progressively hard, a reasonable choice to supplement your earnings is to become a sell wholesale products and sole trader. Nevertheless, even though it might seem simply to buy wholesale products and sell them at retail worth and make a cool benefit, it is essential to be knowledgeable of which products to begin, where to sell them, and where to source them. Additionally, dealing with wholesale suppliers as a sole trader is also a complicated suggestion, and it is essential to do thorough research concerning finding wholesale suppliers and beneficial products on various websites before beginning any such business. Nevertheless, the most significant attitude of this business is to know accurately how to deal with these wholesale suppliers.

Website Forums

There are a lot of websites that provide wide awareness into dealing with wholesalers because they also have appropriate forums where specialist and other members express their beliefs, tips, and experiences. These forums can help the sole trader to begin products and locate real suppliers. There is no subscription or registration fee, and the sole trader can get proficient business community support and advice. The forums also act as service platforms for sellers and buyers to form a network to form trading partners, divide trade leads, and recognize profitable business conveniences. A business-to-business community is assembled, which acts as a marketplace for wholesalers, wholesale liquidators, sole traders, trade stock buyers, and product distributors.

In order to deal and find trade stock buyers with wholesale suppliers, it is important to follow the following steps.

Sourcing A Wholesale Supplier

The first step in beginning off as a sole trader is to find a trustworthy wholesale supplier. A supplier should be simply to work with him, and he will honor his obligations. A lot of sole traders have been captured for a ride by immoral wholesalers in various ways. It is, therefore important to practice carefulness and do a complete search before completing who to work with. The Internet and the local phone book are the perfect sources to find an appropriate wholesale supplier. There are lots of wholesale and websites directories that have enough of information regarding finding reliable and good companies. It would be recommended to short-list some of the promising wholesalers and then look at the reviews on Google from former buyers who have finished business with them. It should not be hard to select a suitable wholesaler. It might be more advantageous to deal with an away wholesaler because products are accessible at an inexpensive rate in countries like China, but as a first step in this business, it is best to begin with local wholesalers and regularly build up enough experience to be able to deal with away in any wholesale suppliers.

Testing The Supplier

Many newbies in this field have had bad experiences with wholesale suppliers, like not accepting some goods at all or accepting inferior goods that could not be sold. There have been situations when the goods were provided long after the scheduled delivery period, and the request had abate down by then, so the sole trader was left with a wide inventory that spelt financial calamity. In order to find the correct supplier, it is important for the sole trader to place a few order and develop an impact that she or he is a humorless buyer. Fixed communication by telephone with questions concerning the position of delivery of the order will make the supplier appreciate that the sole trader will not indulge nonconformity of the terms of the order. This will be a better way of checking the supplier.

Bargaining For A Good Deal

The goal of some business is to make money and taking goods at an inexpensive selling and rate them at a much taller rate is the great process of making an ample amount of benefit. As such, it is significant to bargain with a supplier in order to bring down the rate. There is no need to get ashamed for bargaining because the suppliers and other liquidators also look ahead to selling their inventories and may propose a discount, specifically if there is the probability of getting a bulk order. It is also significant for the sole trader to cross-examine the retail amounts of the goods that she or he determine to buy from the wholesaler, because lots of immoral wholesalers request an exaggerated promising retail rate and try to develop the impact that the wholesale cost will allow the trader to make a big benefit. In order to prevent falling prey to such an act, finding out either the wholesaler’s evidence are right will help the trader.

Check out this link for more informations: http://quickbooks.intuit.com/r/business-development/7-tips-for-negotiating-the-best-deal-with-your-suppliers/

5 Most Common Wholesale Supplier Questions Answered

Most people who are new to Ebiz view wholesale suppliers as something scary and somewhat mysterious. Don’t worry; they’re not going to tear. Wholesale Suppliers are just people doing a work. Consistently it’s not the work you want them to do, but it assists to understand the results to the 5 most ordinary questions about them.

  1. Will Wholesale Suppliers work with Home-based Online Business Owners?

Any wholesale suppliers are big businesses functioning to find big accounts with large box stores. Wholesalers don’t make a very big benefit margin. So, they need to usually sell many of products in order to remain in business and make money.

Because of this, lots of them would rather not work with narrow home based businesses. That’s not what any home business owners want to hear, but it’s a real that you should be wise of. When you access a Wholesale Supplier, you need to satisfy them that doing business with you is going to be helpful to them. Remember that when they start an account for you, they are going to devote money (mostly administrative time) to directing your account and they want to make guarantee they’re not consuming that time.

  1. What do I need before I approach a Wholesale Supplier?

You certainly must have a legitimate business. Either it’s a Sole Proprietorship (also known as a DBA), a Corporation or an LLC (Limited Liability Company), you have to own a legitimate business before a true Wholesale Supplier will even speak to you. Once you own that legitimate business, you must get a Sales Tax ID inside your State.

This is since a Wholesaler is not going to get a charge you on Sales Tax when they sell you at wholesale. As we all learn, Uncle Sam has to have his unpaid, so someone has to accumulate that sales tax. As the product dealer, that someone is you. The liquidators played a very big role in this matter.

Wholesalers are need to keep up the legitimate Tax IDs of their customers on file at all times, to confirm that they’re only selling to businesses that are authorized to accumulate sales tax. So before you contact a Wholesaler, make guarantee you form that legitimate business and get a Sales Tax ID.

Keep up in mind that a company calling itself a Wholesaler that does not ask you for a Tax ID is not a true wholesaler. There are thousands of swindle operators calling themselves Wholesalers in the search appliance. They get in among you and the true wholesaler, and print up the costs, cutting down your benefit margin. Avoid from these people at all costs; they’ll prohibit you from building a beneficial business.

  1. How do I convince a Wholesale Supplier that my business is worth their time?

Make sure you examine out the Wholesaler’s web site before communicating them. They’ll have the answers to any of your questions on that area. When you keep in touch with them, that development will let them know that you did your homework. The final thing a Wholesale Sales Rep wants is a quantity business customer that sounds like they’re going to be high-sustenance.

When you call a Wholesale Supplier, make sure you utilize your company name. That lets them know you absolutely have a legitimate business, as antagonistic to the calls they get all the time from ‘shopper’ who are not truly in business at all. Tell them you’re a dealer concerned in selling their products. Get as far into the communication as you can before remarking that you’re selling online. Never misrepresent the Supplier, but use the time to let them ask you any questions before volunteering that reality.

Don’t be disturbed if the Wholesaler cannot work with your online business. It’s not the mistake of the Wholesale Rep you’re speaking to…it will be a company procedure. If they can’t work with you, just say thank you to them for their time and move ahead to the next Supplier on your call record.

  1. How do I get pictures and descriptions of a Wholesaler’s products for my web site or auctions?

Wholesalers that are ready to work with online businesses will have product and images descriptions accessible for you in some type of electronic form. Most of the time, they’ll tell you to go to a sure page on their web site and click a connection to download those descriptions and images. Consistently they’ll e-mail you a link to do the same.

Either way, they’ll offer descriptions and images in some form that you can utilize to place on your auctions or site.

  1. How does Drop Shipping work?

Drop Shipping is a short cost way to begin selling products online without having to purchase them from a Wholesaler first. Some Wholesalers propose drop ship programs; most do not.

A Wholesaler that proposes Drop Shipping is eager to ship one product at a time for you, straightly to your customer’s address from their warehouse. You place the product description and image on your auctions or site, make the sale and gather the clients’ money for the shipping and product, and then you tell the Drop Ship Wholesaler to transmit the product to your customer at their address. The Wholesale Drop Shipper then charges your credit card or debit for the wholesale price of the product plus shipping. So, you gather the dealer cost before you pay the wholesale buying amount.