With the economy taking a hit, many people are looking for an alternative means to supplement their income. One of the methods that people consider is to sell wholesale products. Buying a product at wholesale and selling that product for retail value can be very profitable and a viable income solution providing that one knows which products to sell, where to find those products, and where to sell the products.
A common question that people have is, “What products do I sell?" That is a really good question and the answer is different for everyone. There is a never ending supply of products to sell and one must choose what interests them the most.
Some ideas are:
1. A popular, trendy item
This item can be anywhere from home accessories, to clothing, to kids toys. The trendy items may change from decade to decade, but the one common denominator is that young adults and adults will race to the stores or shop online, for a particular item so that they can “fit in" and be a part of the “in crowd".
Every woman loves jewelry and every man that wants to impress his sweetheart has bought her a piece of jewelry at some point during their relationship. Jewelry is also an item that is often passed down from generation to generation. Costume jewelry is another item that has a variety of uses and is very popular.
People who are into collectible items are very loyal and know their market well. They will hunt high and low for an item to add to their collection at a reasonable and fair price. Collectibles covers a wide market. You can choose to sell a very specific item or items from a particular decade, or sell a wide range of items, spanning several decades.
4. Car and Truck Parts and Accessories
Everyone from the guy, who restores vehicles to their original style and the weekend grease monkey, will find themselves looking for a particular part at some point or another. Some people choose to sell hard to find parts and accessories, where others, may choose to sell common parts and accessories.
5. Electronics, Multi-Media, and Accessories
With the increasing popularity of home theater systems, cell phones, car stereo systems, flat screen TVs, computers, and home or car alarm systems, there is a growing market for suppliers. Even more so for those that sell all the accessories for all the latest technology.
6. Cleaning Supplies
These items can cover everything from industrial cleaning supplies to cleaning supplies designed for home use, as well as all the accessories such as cloths, sponges, mops, buckets, canisters and bags, masks, eye wear & eyewash, and clothing.
7. Vitamins, Diet, and Alternative Medicine Products
These are very popular, “hot topics". People are becoming more and more health conscious and educated on what is good for their bodies. There is a never ending supply of products to sell in this market, but one needs to do their research to find which products are beneficial versus which products are simply gimmicks and snake oil.
Once one knows what item they wish to sell, they can then begin to look for a supplier.
You want to find a supplier who can offer you a good price for your wholesale product, but also one who has a good reputation. Take your time finding a supplier, ask questions, and ask for references. This can be done through classifieds, online research, placing an ad, or through speaking with people who buy and sell the items you are interested in.
Now that you know which items you wish to sell and a supplier, the next common question is, “Where do I sell these items?" There are many ways to get your product seen by those who are most likely to buy.
Your target market.
Some ideas are:
1. Open a physical store
Your store can be located in a strip mall, on a busy street, in town, or even in your own home.
2. Build a website
Some people choose to build a website and promote their products online. A website can also be a valuable addition to an existing store.
3. eBay or Amazon
eBay and Amazon are two very popular places online that people search to look for items of interest. With eBay, you can open your own online store or simply list items to be auctioned off.
Advertising can be done through classified ads, sponsoring events, radio spots, and TV commercials, buying ad spots on websites, using free online resources, ads on vehicles, billboards, and most importantly, word of mouth.
5. Flea Markets and Fairs
These are great places to set-up a stand and sell your wholesale products. Remember to hand out business cards.
As you can see, there are a lot of different items that you can choose to sell as well as many different ways to market your product. The most important thing is to take your time and find the product that is right for you. Don't rush into selling an item because someone tells you the money is quick and easy. Take your time and decide for yourself what it is you want to sell. Once you have done your research then you can make informed decisions about your new business.
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