by Budding entrepreneurs who either have a business plan ready or who aren’t yet sure what to do consider what’s involved in buying Direct Liquidation pallets. This gets you an entire pallet of high-quality new or refurbished items at below-wholesale prices, which puts more profit in your pocket. All types of businesses can benefit from the incorporation of liquidated pallet products. Here are just a few ways how.
Low-cost supplies and equipment
Do you have a cleaning or home-repair business? Are you a self-employed landscaper, party planner, or crafter? You can purchase industrial supplies, plumbing fixtures, power tools, party supplies and more by the pallet to save big on your routine supply purchases. If you’re looking to start a restaurant business, you can find discounted assets and commercial kitchen equipment such as food coolers, meat slicers, and mixers for pennies on the dollar.
Items contained in liquidation pallets include brand new items that have been discontinued or overstocked, customer returns where packaging has been damaged or electronics and equipment that have been refurbished back to factory specifications. This merchandise is grouped together by category and sometimes even by brand so that a pallet contains a specific category of materials, which lets you bid on exactly the supplies or equipment you want. If your pallet contains more material than you need or can use, you can turn around and either sell the surplus, or use items as marketing promotions or raffle giveaways.
Retail resale
You can start a business reselling direct liquidation products with little overhead, either by posting your goods online or selling them directly at a flea market booth. You can also combine this method with your other pre-existing service-based business as described above to bring in multiple income streams. This can be the perfect way to even out your income if your service-based business tends to have seasonal lulls. When life happens and you need to move, this completely portable business can easily become your bread-and-butter income while you work to re-establish customers for your service-based business.
Sellers on eBay, Amazon, Etsy, and more save money by incorporating these items into their product lines. The National Retail Federation estimated that customers returned $351 billion in products in 2017. Often these products are undamaged or unopened, returned for simple reasons such as wrong color, wrong size, duplicate gift, etc. This means that liquidated pallet resellers can obtain new or like-new goods for a fraction of the retail or wholesale cost, without having to pay to deal with a distributor.
Marketing on a dime
In addition to providing your business with low-cost supplies or equipment, any leftovers including things such as refurbished electronics, small home appliances, and bags or accessories can make the perfect gifts or giveaways for your next promotional event. You can also pledge these items to a local charity fundraiser event to get name recognition associated with a good cause.
Sports accessories and equipment also make great customer appreciation gifts, which can help you keep your customer satisfaction scores high. Buying a pallet of Easter or Halloween products can be an affordable way to host a family-friendly party that existing customers can enjoy while potentially attracting new business from the community.
Combining all of these approaches can help your new business soar, giving you the ability to diversify your income stream to hedge against annual or market slowdowns. It can also bring you closer to your customers and the community by providing an affordable way to bring people together for fun or a common cause.
To read more on topics like this, check out the business category.
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