Published on
October 20, 2020

How To Get Started On Your Reselling Business

<span>Photo by <a href=";utm_medium=referral&amp;utm_content=creditCopyText">Austin Distel</a> on <a href=";utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a></span>

What is Reselling?

A reseller is a business owner or entrepreneur that buys products from various sources like a manufacturer, vendor, or wholesaler at a lower cost and resells that product for a higher cost, either through online or offline channels.

As a reseller, you do not need to create your own product. Whether you want to sell clothes, shoes, or electronics, you will quickly learn that you have a wide variety of products to choose from.

Reselling is great option for first-time entrepreneur with many paths to success. Whether you want to start a small, part-time hustle or are ready to resell full-time, there is a way to scale your business and ambitions.

Why to start a reselling business?

Starting a reselling business online has never been easier. You decide how much time and money you are willing to invest. You grow accordingly to how much work you put in! It also gives you the flexibility to scale as big or small as you want it to be.

Marketplaces like eBay or Amazon and creating your own online store fronts like Shopify make it easier for you to list your products to sell online.

Where do you begin with reselling?

1. Sourcing

To get started with your reselling business, you will need to find products to resell. Sourcing is the process of find and purchasing inventory. You can source products from a variety of sources listed below:

  • Flea Markets
  • Antique Malls
  • Consignment Auctions
  • Garage Sales
  • Estate Sales
  • Thrift Stores
  • Retail Clearance Stores like TJ Maxx Or Ross
  • Goodwill Outlet Stores
  • Pawn Shops
  • Craiglist
  • Local Selling Applications like OfferUp
  • Facebook Selling Groups
  • eBay
  • Wholesale Liquidation Companies like B-Stock or Direct Liquidation

2. Selling

There are a multitude of channels that you can start your reselling business on. eBay and Amazon are great marketplaces to begin! Product niches vary across the board in terms of where the best marketplace is to sell. For example, Poshmark is more known for fashion and clothes while eBay is more known for electronics reselling. We suggest doing research on each individual marketplace to narrow down which item sells the best. Below is a list of online marketplaces that you are to start your reselling business:

In addition to these online marketplaces, you can create your own reseller website using the following platforms:

How Do You Scale Your Reselling Business?

Eventually as your reselling business starts to scale, having a dedicated system in place comes highly recommended. It helps you better manage your products, online sales channels, and to ensure that you are making profits. Check out this blog about the benefits of having an inventory management system.

Patturn is an inventory management system that is built for people that buy second-hand or product products to resell online. Whether you need to process inventory, manage multiple marketplaces, or fulfill orders, Patturn is built as a mission control for your reselling business.

Schedule a demo here to see how Patturn can help you make better business decisions.

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