Ever considered a career in reselling or wholesale? If you’ve heard anything about it, you know that it’s a fast-paced and exciting way to turn profits on popular retail goods. Top resellers run their own businesses, set their own hours, and call the shots. Plus, it’s not all that difficult to break into a career in the industry. Once you find the right distributors, you’re well on your way. Here’s how to purchase returned merchandise pallets to kickstart your career as a reseller.
Finding the right distributor
When it comes to reselling, your industry relationships are incredibly important. Whether you’re working with a sole distributor or you’re trying to build an entire network that your business can rely on, surrounding yourself with the right colleagues is an essential component of your overall success. It’s important to remember that just because what someone’s offering you might seem like a good deal, it doesn’t necessarily mean that it is a good deal. For every quality distributor working these days, plenty more are all too willing to take advantage of newer resellers for their own gain.
Deciding on a distributor requires patience, perseverance, and some solid interpersonal skills. As with any retail business, reselling relies heavily on the relationships you forge. If you’re unsure of how to go about finding a distributor, a good place to start is requesting referrals from industry peers.
Another good tactic is to reach out to the manufacturers of products you intend to stock. If they’re not willing to sell to you directly, they may consider parting with their list of trusted distributors. For example, if you’re interested in purchasing returned Amazon pallets, reaching out to Amazon might yield greater rewards than simply asking around to find the right distributors.
Ask about the auction houses
No one can deny that auctions are fairly intimidating, especially if you’re new to the reselling business. They’re incredibly fast-paced, they require a keen eye, and you have to be able to make snap judgments. To put it bluntly, the auction scene isn’t for every business owner. However, if you have a true sense of what you’re looking for and understand the value of the returned pallets you’re purchasing, you’re one step ahead of many auction attendees.
Although in-person auctions are the most common, especially with the vast number of trade shows that take place every year across the nation, digital auctions are only growing in popularity. Some of them are invite-only, which means you’ll need to establish a relationship with the specific manufacturer before you’re allowed to attend. However, many others are public and are a great starting point for acquiring returned merchandise pallets. Ask around about upcoming public auctions and try to gain a bit of insight as to how they work. After all, you wouldn’t want to waste your valuable time at a venue that won’t help propel your business.
Preferred vendors are essential
When all else fails, see whether your desired manufacturer works exclusively with preferred vendors. These distributors are sometimes the sole resale point of contact for top retailers and might be your only shot at acquiring the returned pallets you’re interested in stocking. A major benefit to using preferred vendors is that many of them extend the same warranties, guarantees, and return policies as their parent manufacturers, which means that you’re able to buy merchandise with a peace of mind that returned products don’t typically afford you.
Whether you’re an industry veteran or a reselling rookie looking to break into the scene, learning more about where your products come from is crucial to your business’ success. Finding the right returned merchandise distributor takes time, but once you’ve crafted a solid business relationship, you’re in a great position to start growing and expanding.