Liquidations pallets and liquidation businesses are growing infamous all over the world. Whether it be a garage sale of liquidated items or a liquidation shop or eBay or Etsy, there is a ton of scope for profit in this growing industry. Hence if you are thinking of getting into the industry, then you are at the right place.
The first and foremost thing you need to figure out is where you wish to buy your liquidation pallets from. Are you planning to buy liquidation pallets in Neywork? Or do you live in Texas and want to buy locally? Purchasing pallets online from overseas is also an option but it can be a tad pricier than local options. But before getting into the question of ‘Where to buy from’, lets delve into the question of the ‘Why’.
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Liquidated goods are CHEAP cheap
The title is pretty self explanatory, but let me tell you why. Liquidation pallets are pallets which contain the extra inventory, returns and refurbished items from various brands and companies. These items are thrown into pallets and are auctioned off. Liquidation companies or even resellers often bid on these auctions or buy pallets directly for a very nominal price.
And the reason for these nominal prices is the condition of the palletized items. After being returned and refurbished, the product is not in a brand new condition. Some of these products are sometimes not fully functional and are in less than perfect condition. Sometimes certain products are damaged as well. Hence, the price is incredibly cheap but it has some risk as well.
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Variety of brands
The liquidation pallets from wholesale liquidation companies contain bouts of different brands and names. Liquidated pallets contain products from a plethora of companies, both high end and low-end. From Amazon, Walmart, Target etc to Lenovo, 7/11, and other such big names also liquidate their products which you can buy from many different wholesale liquidation companies.
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Branded products at fraction of their price
Another one of the biggest advantages of the liquidation business is the fact that you can buy all these non-branded and branded products for a small fraction of their original price!
Sure, some pallets can look intimidating when their price ranges in the hundreds or thousands. But each pallets has tons and tons of liquidated products, out of which usually the majority are in a decent condition. Hence by selling these products, you can earn a higher price as well.
Even if a pallet costs you $500 and it has total 50 items in it, then the average cost of each item would end up being 410, and usually you can up-sell these products by a decent margin.
This works especially for clothes and technology. Fashion is a mindset, and even if one person doesn’t like it, another will. And if you know how to market your products accordingly, you will have a goldmine in your hands.
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Great way to start a business
Reselling liquidation pallets can be one of the easiest ways to start a business. It does not require huge capital, nor does it necessarily require an outlet or store.
You can sell your products online, through eBay or etsy or similar shops. Or you have hold weekly garage sales or take your products to a flea market. It is indeed fantastic because you can start earning with minimum risk.
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High Profit margin
Remember points 1 and 3? Yea those points are exactly what will help you to earn more. Usually stores need to charge a good chunk of money in order to be able to:
- Maintain their establishment
- Pay their workers
- Earn profit
This applies to all stores, brands and companies, whether it be a commercial garment store or a food stop.
But this is where liquidation businesses give you the upper hand. The first two of those above mentioned points are inapplicable to you. You can base your shop out of your house, or a garage. And if you are solely managing the business, there is no question of paying wage-workers either.
Hence you only need to focus on earning profits, And since your initial purchasing price is low, you can earn decent profits even with a low retail price.
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Sell online
As mentioned above, another advantage of buying liquidated pallets is that you can sell through an online store. This cuts down on your intermediate costs and allows you to earn more.
7.Buy whenever you want
And last but not the least, you do not have any shackles of having to buy continuously like commercial stores. You can post on your online store or hold garage sales whenever your heart wishes.
Hence you can be financially more secure as you have full reign on your business. These are the 7 advantages of buying pallets of wholesale liquidated goods. And although buying pallets does have some risk with it, but the percentage of getting damaged products is actually not that high.
Additionally, many products work just fine after some basic repairing.Now, if you are unsure of where to buy pallets from, then you can definitely check out these outlets and articles at learnliquidation.com