Many of our customers are commercial resellers buying stock to sell on to their own customers. They do this online through eCommerce websites, via independent retail stores, or from market stalls.
If you’re thinking about doing the same thing, all you need is a little bit of capital, some spare time and a generous helping of entrepreneurial spirit.
In simple terms, the steps are as follows:
We source a wide variety of products that manufacturers and retailers need to get off their hands. This could be, amongst other reasons, end-of-line items, surplus or excess stock, order cancellations, or simply products with damaged boxes. These goods then become Lots in our timed online auctions.
Set up a bidding account, which allows you to register for these auctions. Have a browse through the Lots to see if there are any that you think you could sell on to your customers – then get ready to bid.
Having won your Lots and received the stock (usually at significantly lower prices than the High Street), add a reasonable margin and sell the items on at a profit.
Important things to remember if you are tempted by the reseller route to earn a bit of extra cash:
1) As with all sales, the key is to know your audience first. Spend some time thinking about the sort of people who you can easily make contact with, or who you have credibility with. Maybe they are customers from your existing business, or they are people you have sold to in the past. It could be that you have a popular blog or website that generates a lot of traffic, or maybe you occasionally run a stall at a market. You don’t have to be a tech wizard these days to design and build an engaging website that you can sell from, or you could even set up an Amazon or eBay shop. The real key though is to know the people who you will be selling to – and to know what they want.
2) Having identified your audience and worked out the sort of things they like or already buy, you can start to look out for products which match their requirements. There really is no shortage of great quality, brand new, surplus or excess stock, here at Haddon & James, and new things are coming in all the time. From TVs and tech, to toys, laptops, kitchen appliances, fragrances and toiletries, tools, outdoor furniture, and so much more; the opportunities are endless.
3) Perhaps the most important piece of advice is to always do your product research thoroughly before you buy. Don’t buy anything unless you’re confident that you can sell it on. We are very conscious of quality, so you can be assured we will do our best to accurately describe the details and standard of each auctioned lot. Your job is to work out what price would attract your customers and still make you enough profit to pay for your efforts. As experts in commercial auctions, we have a pretty good idea of what sells and we only accept stock that we are confident will attract an audience. So, you should already be one step ahead by buying through us. Then, if you enjoyed the process, and it was worth your while, you can go and spend your profit on something nice for yourself or invest it in more stock and a whole new business venture…
We usually have sales live every day, so take a look at our Auctions page to see what’s available now.
Let us know how you get on!