There are hundreds (if not thousands) of wholesale liquidators vying for your business every day. Though is it easy to find product liquidators, it is not always as easy finding the right one. However, when you do, you will find that the better the wholesaler that you work with, the better your overall experience will be. Many companies choose to work with reputable resellers because they offer prices that are well below market value and are trustworthy.
Unfortunately, there are way too many “fly by night” companies that market themselves as a company with top-notch products, but after you get the shipment, you soon realize that it was all a farce. The goal of any business is to purchase great products at a low cost and sell them for a higher one. This goal can be thwarted if you are purchasing products at retail value and then marking them up more or working with liquidators that give the impression of professionalism but then deliver products that do not reach your expectations.
The right product liquidator will be able to tell you what type of products you are purchasing and what condition you can expect them to be in. Furthermore, the benefit of working with a reputable liquidator is you can purchase name brand products for prices that are well below retail value. You can then sell them for a profit via various retail outlets.
What Are Liquidated Products
Before you purchase liquidated products, it is important that you have a clear understanding of what they are. They are typically the result of another retailer or manufacturer selling their unsold products to a wholesaler. These products could be the result of overstock, returns, or defective/damaged goods. It is important for you to know which category your potential products fall into before you make your purchase. Learn more about each of these categories below.
- Overstock: In some instances, major retailers invest in too much inventory. This could be due to them not meeting sales goals, expecting large purchases during certain seasons, or purchasing based on data. Luckily for you, these bets do not always work in their favor and they need to liquidate their additional stock in order to potentially break even.
- Returns: Retailers will often sale returns to wholesalers in bulk. In most cases, these returns have not been touched and it will be up to you to discern whether or not they are worth the gamble.
- Defective/Damaged Goods: This category speaks for itself. When purchasing damaged or defective items, it is important for you to have a specific demographic that you are targeting when reselling.
The Benefits of Choosing Product Liquidators
If you choose a product liquidator that is well established, has a good reputation and offers fair pricing, you are moving in the right direction. They can help to vet products before they arrive at your doorstep. You can also build a relationship with them and gain information about upcoming liquidated items. Furthermore, this is the easiest way to procure name brand products for a below-market rate. The benefit in this is that name brands have already done half of the marketing for you, you just have to add your unique value proposition and make sales.
Working With The Right Wholesalers
Wholesalers are not all created the same. Before you make the decision to work with a product liquidator, it is imperative that you conduct in-depth research on the company. This can include reviews, word of mouth, policies, shipping costs, etc. Choosing the wholesaler that fits your brand and offers you the best products for a fair price is the most important step in building a strong business of your own.