Trading Wholesale Closeouts Through an online Store
Trading Wholesale Closeouts Through an online Store
Wholesale products: This can be a great way to make money if done correctly. The first thing you want to do is take a look at what type of store you would like to have. Surf around on the Internet and see how many people are selling the same things you want to sell. If there are a lot of stores selling the same thing, you must offer something more than they are in order to have success. Provide phone number, fax, email and postal address for customer support. If you want to keep your address confidential, at least you should tell the City and State where you are located.
Make sure purchasing can be done on a secure server(no one wants his or her credit card information to be in danger) if you plan on setting up your own web server. There are several website hosting companies that offer shopping cart systems if needed. List items with sufficient information. The more description, the better chances of a sale. Pictures are must. If at all possible, create a link directly to the manufacturer's website. Make sure your server has a high bandwidth. If pages take too long to load, the customer will be discouraged and leave your site.
Buy your own domain name. You should have a short domain name that people will remember and can always come back to. If you choose a long name, no one will remember what it was. You would have to rely on search engines to direct customers to your store. Choose pleasing colors for your website. Create easy to navigate menus and try to make changes periodically to keep their interest. You could have weekly specials, and change your artwork every so often. You can also add a frequently asked questions (FAQ) page. Provide competitive pricing and warranties and make sure the items are shipped in 24 to 48 hours.
If you really want to succeed in this type of business, you should do some hard research on what you're trying to trade. Make sure the product is current and not outdated. Check pricing to see what other websites are charging. Check resources for purchasing then compare to the pricing you want to charge. This way, you'll be able to tell if you can make a profit or not. Remember to keep the same theme. If you have a website that sells stereo equipment, you won't be selling clothes or other unrelated items. You might want to consider a specialty store. This way you only have to keep a few different items and offer unique things that no one else has to offer. The more items you sell, the more room you will have to make to store them.
Another way to sell product would be to produce things yourself. In lieu of buying things to sell, you could make them. Examples of this type of product would be crafts, ebooks, music CDs, home made movies, etc. These items could have a better chance of selling because they are unique and won't be available anywhere else but through you. There are a lot of ways you can promote your original products. See the marketing section on this site.
You must always start small when carrying an inventory. Live your site and monitor the bites you are getting before buying anything more. There may be companies which are willing to ship directly to your customers instead of requiring you to have inventory. More than likely, you will not receive the type of pricing from them as you would if you bought from sources that sell in large quantities. You should submit your site on as many search engines as possible. Remember it takes time for people to recognize you. Your best bet is to promote your site on other websites with the same theme if at all possible. You could also announce some commissions like a finders fee to speed up your traffic.
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