Many people are selling items that are sold on the Internet auctions by buying wholesale and selling them for retail. This may seem like only the pros could execute this method, but for those hungry to make another income stream, it is feasible.
With some time for research and a small investment, you can get into the wholesale-retail business on the Internet.
Things You'll Need
- Access to eBay
- Pay Pal Account
- Money to invest for stock and supplies
How to Buy Wholesale to Make Money
Search on one of the wholesale vendor search engines like alibaba.com or globalsources.com. These are websites that have thousands of vendors with items they will make custom for you or items that are premade and ready to be shipped to you. If you want to save time and get your on line shop up and going right away, then purchase items that are premade. For example, you can get sunglasses for pennies on the dollar that are premade and sell them for a large profit on a website like Ebay.
Research the product you want to sell on the auction website of your choice. So in our example of the sunglasses, search for similar glasses and note how much they are asking and selling for. Plan to price your glasses similar. You may also want to research what similar glasses would sell retail in a regular store. This will ensure you are pricing correctly.
Start a pay pal account and eBay vendor account. The pay pal account will be used for your purchase transactions and the eBay vendor account will be your on line store you will sell you items on.
Purchase your items from the wholesaler. Expect the shipping to take from ten days to four weeks. Most overseas wholesalers will have minimum quantities you have to buy. If they say 300 is a minimum, ask if for the first time they will ship 100 as a sample quantity before you commit to a larger amount. Most will give you a trial period.
Use your on line auction store, like eBay, to sell your sunglasses.