I don’t understand how people can make money reselling returns/used merchandise. I’m not much of a gambler. When I sell to my customers, I like to tell them what the merchandise is worth – not take a stab in the dark.
How do people get around that?
There is no doubt that purchasing customer return liquidations is not for everyone. While it can be a profitable endeavor, it does come with some risks and you do need to go into it knowing what to expect.
Occasionally products in this industry do come with manifests detailing the original retail or wholesale value of the load, effectively allowing you to know exactly what percentage of value you are paying for each item in a given load. This can help you resell to your customers with an exact value in mind.
A lot of the time items will come with original price stickers from the original store. A pair of shoes for instance. You may pay $12.50 for it. It might have a retail tag on it of $88. You can sell it to your customer for anything you want above the $12.50 you paid for it, and still allow them to get it at a significant savings from what they paid in the store. You absolutely do have the ability to tell your customer what something is worth. If it doesn’t have a price tag on it, you can do some research and figure out what it sold for in the store.
More often than not, loads in the liquidation industry are unmanifested and as such, customers do gamble when purchasing. It is safe to assume that you pay a small percentage of what the merchandise is actually worth, but exact profits are up to you, how much work you are willing to put into maximizing your profits, how many resale channels you will use to move the goods and what kinds of promotions you will come up with to increase your sales.
It does require some creativity and some time. This is not a get rich quick scheme or a “take it out of the box and resell it for 300% profit” kind of scheme. This is a business that requires you to get in there, work the product (repair items if necessary, clean items that are potentially dusty/dirty from warehousing and transportation, remove sales or previous retail stickers from the items), and then determine the best way to sell it for maximum profit.
You can feel free to read this section of our website that explains more information about what to expect in this business. http://www.viatrading.com/faq.jhtm#20
Purchasing returns is not for everyone. If you are not willing to put in some work, do not purchase.
We do have products that are NEW OVERSTOCK – meaning not used and not damaged. A lot of our customers who sell on eBay or other online avenues and don’t want to deal with any potential damages purchase these kinds of products.
Our team is available to answer any questions and coach you through the process 6 days a week. Feel free to email us at [email protected] or call us at 877-202-3616 and we can discuss the best options for you.