The United States is the best country in the world to hone your entrepreneurial spirit and skills. There are a lot of industrious people who just don’t know what industry is the best fit for them. Many of them just don’t have a business model or know how to develop a business plan. One simple venture that can help you become a successful entrepreneur is selling liquidated goods and products that people return to Amazon.
Every year, dissatisfied customers return truckloads of brand new consumer electronics, apparel, home goods, and other products. You can sell these like-new products at a profit — it just takes persistence and an entrepreneurial mindset. Continue reading to learn how to make money by selling other people’s Amazon returns.
Is it legal to sell returned or liquidated goods?
By now, you may be wondering what you can do with an inventory full of returned stock. Often, when people get a refund for a purchase, it isn’t because the product is defective — sometimes, the customer is dissatisfied for other reasons.
By selling their returned merchandise at a discounted price, Amazon can make sure that they at least make something from it. In other words, their loss — or loss prevention — is your gain. Of course, you won’t be able to market the products as brand new, but you can still sell them for half of their retail price and make a profit doing so.
How do you get Amazon liquidation pallets?
Now that you know how and why you’re able to sell goods from Amazon liquidations, how do you get the merchandise? The answer is Amazon liquidation auctions.
Companies like Direct Liquidation hold auctions online for major retailers. On these websites, you can bid on pallets and whole truckloads of Amazon Liquidations. You can end up paying as little as 10% of the manufacturer’s suggested retail price (MSRP).
The good thing about this business model is that you don’t need years of experience as a retailer to succeed. Purchasing merchandise at such a discounted rate makes it easy for you to get a high return on your investment.
Amazon liquidations include products like consumer electronics, home goods, and luggage, to name a few. Once you start purchasing pallets or truckloads of Amazon returns, you’ll be ready to open up for business.
Getting Your Business Started
Being that you’ll be selling Amazon returns, you should market your store as a thrift store. Marketing your business as a thrift store implies to your customers that you’re a seller of gently used goods. The fact that your merchandise will be products that are nearly brand new Amazon returns will set your business apart from other thrift stores.
Even if you can’t afford a brick-and-mortar store right away, you can start small by selling out of your garage on the weekends. A yard or garage sale where people can get like-new electronics, home improvement products, and other necessities at a discount price will generate a buzz. It won’t be long before you’re able to move your operation from your front yard or garage to your own store.
You can also sell your products online. You’ll have to deal with the hassle of shipping products, but you also open your business up to a much broader consumer base when you sell online.
If you’re not a web designer, then you may struggle to create a website for your business. The best thing you can do is check out the websites of other online retailers to get a feel for how your site should look. Even if you do have a brick-and-mortar store, a website is essential to last in business in the digital age.