Can You Make Money Owning a Reselling Business?
Posted: Apr 26, 2020
Interested in retail reselling but don't want to pay retail price for merchandise? Confused about goal setting, best practices, and your overall strategic plan? Wondering if a retail reselling business can even make money? Luckily, it can, if you go about it the right way. Every reseller small business needs to keep some key concepts in mind, from acquiring merchandise to choosing key results.
Finding General Merchandise
Retail goods without the retail price tag may seem like a pipe dream but, for resellers, there's always the world of liquidation. Liquidation websites sell pallets and truckloads of retail goods in almost every product category at a fraction of what you'd pay at a retail store. Liquidation goods are often high quality though that can depend on both the buyer-seller relationship and the reputation of the vendor.
Depending on which liquidation sales you choose, you may get a lower shipping cost or even free shipping if you're a frequent buyer. Liquidation sales are often spurred on by customer returns, excess inventory, and seasonal products like holiday-themed home decor. Liquidity services want to sell inventory just as much as you want to buy it. The important thing is finding the right seller.
Businesses like Direct Liquidation have built a name in the realm of reseller small businesses. Direct Liquidation is known for top-notch liquidation sales, affordable shipping costs, and being able to sell quality retail goods by the pallet or truckload. Whether home decor or used electronics are on your list, you can also trust the product conditions of merchandise sold by Direct Liquidation. Partnering with sites that sell liquidation goods is the smartest way for your small business to turn a profit on otherwise-expensive retail merchandise. All you need to do is be a discerning buyer.
Strategic Objectives and Key Results
If you need to get your team members in alignment with the key results you're tracking for your online marketplace, you're likely going to want to invest in OKR software. OKR software follows objectives and key results in real-time. An OKR provides you with a goal-setting framework and can even incorporate flexible employee performance management software.
The best OKR software makes it easier to boost employee engagement and set ambitious goals both for your team members and your company as a whole. OKR software can also help you list out some of your quarterly goals and reassess those at the beginning and end of each quarter. From there, you can adjust your OKRs accordingly to make sure that your small business as a reseller is performing smoothly.
Narrowing down your OKR software selections can be simpler, though. First, read all the reviews you can find. The best OKR software will be well-enjoyed amongst members of the reseller industry. Then, see if they offer a free trial. After all, if you're going to make money as a reseller, trying before you buy can be incredibly helpful. Finally, make sure that all the features you want, like help with performance reviews and employee engagement, are present.
Being a reseller can be tough, especially if you're a buyer of retail goods. However, even retail resellers can surely turn a profit if they're willing to follow some
A freelance writer with a BA in English from Sarah Lawrence College.