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The basic idea of a reselling business is that you buy a product and then sell it on to a third party. That’s literally all there is to it. It could be a new product or a used one.
It’s as simple as it sounds, and there are millions of reseller businesses worldwide using this very simple business model to great success.
Here are some top tips on how to make the most of the very best reselling opportunties and ideas in 2021. Consider it your very own unfair advantage 😉
Tip number one on how to choose the ideal reseller business oppportunity is to think logically and be realistic. There might be a great profit margin on sofas, but where are you going to store sofas in your one bedroom apartment?
That’s why it’s recommended choosing smaller objects to resell at first.
Another top tip is to choose an area that you actually have an interest in. If you love cars and anything mechanical, but hate fashion, then there is no point choosing to start a clothes reselling business!
There are two main types of reselling. The first type of a reseller business can also be called flipping, this term is often used for people who like to go thrifting.
They look for vintage finds or clothes at garage sales and thrift stores, find a bargain and then sell it on for a profit online via eBay, Depop or their online ecommerce site. Or if you really wanted to make this into a fully-fledged business, you could look for vintage items, restore them to their former glory and sell them on. Loomlight is a perfect example of this, the husband and wife team sell reclaimed vintage industrial lighting from their UK workshop and store.
Related: Best Things To Sell On Depop
The second type of reseller business is called dropshipping. You can find white label products, which are plain unmarked/unbranded products, and then put your brand on it before selling it on via remote warehouses.
E.g. I find plain exercise resistance bands from a manufacturer in China, they put my brand on the bands and then send them directly to the warehouse to be sold and shipped to the customer.
Dropshipping is a good option for people who want to work remotely, as you don’t need to physically touch any of your products or require any storage space.
Your main role as a dropshipper is to market your branded products via your online ecommerce platform. The manufacturer sends your product straight to a dropshipper warehouse, like Amazon, which will then be sent on straight to your customer.
There are thousands of whitelabel products out there that you can sell, t-shirts and fitness equipments are both popular reseller business ideas.
Shopify is a great online platform for setting up an online dropshipping store. They offer a 14 day free trial if you want to check it out.
To succeed as a dropshipper, you will need a strong brand and an professional image. Shopify makes building a website super easy and they always look very sleek and professional.
Once your site is looking good, you will need to focus on marketing, logistics and excellent customer service.
Shopify offer a fourteen day trial for free, no credit card needed! So there’s really no reason not to give them a go if you’re interested in starting a side hustle.
As mentioned above, it’s a good idea to start with smaller items that you can easily store in your home while waiting for them to be sold.
You can source jewelry from a variety of different places like thrift stores, lost & found websites, lost deliveries and garage sales.
Try and stick to a specific look to help your reselling business build a recognisable brand.
Lost Deliveries & Liquidation Pallets
This little known sub-industry is a major money maker for reselling business ideas. Head to a liquidation website right now and you can buy a pallet full of stuff that people have returned to Amazon or lost deliveries. You choose your pallets via category, so it could be ‘Home Decor’ or ‘Sporting Goods’.
You enter the auction and bid on pallets worth up to $3000 but are valued at only 15% of their retail value, so you get huge savings which can turn into your profits!
Thrifting and reselling your clothing gems is always going to be a stable reseller business idea because it’s sustainable and has a very low entry cost.
Anyone can go to their local thrift store and find some cool, vintage finds to sell on eBay.
Once you build up a following, you can move that platform away from eBay onto your very own eCommerce website using the likes of Shopify.
Shopify makes it so easy to build a website and set up a clothing ecommerce store these days. What’s more they offer a 14 day free trial!
Kitchen utensils are a great idea to resell. The trick is to check out your local grocery stores and homeware stores for when they have sales and offers on. Buy up the products on offer and resell them online for a profit.
You can get yourself into a good routine, get yourself signed up to the stores email lists to stay up to date on when their next sale is.
Kid’s toys and games are always popular with online shoppers, especially when it’s running up to the holidays! They also never have an expiry date which means as long as you don’t buy monster size teddy bears, you can easily store them in a spare room in your home.
The Kindle and ebooks may have destroyed the traditional publishing industry, but one sub-section of publishing that will never go out of business is children books.
Aim for children books aged at 1-10 years old as this the age range that doesn’t have access to ebook readers, tablets and smartphones.
You could even turn reselling into a creative business, you could start a side hustle as an artist, turn your original pieces into prints that you can sell online so you can sell multiple copies.
This is a great option as a reselling business idea since you can do it both via flipping and dropshipping. If you love digital marketing and have a small instagram following (1k plus) then you can build a brand to sell your fitness products to.
All you’ll need to get started is a Shopify website to sell it through and away you go. Don’t expect it to be your sole income straight away, but it can be a nice little side-hustle and who knows it might grow into a major brand one day!
T-Shirt Dropshipping Store
T-shirts are a popular choice for dropshippers as you can choose a print on demand service. This way you never have to buy the stock before hand, meaning it’s a great option for people who don’t have much capital to start with.
Think about it. There are expats living all over the world who are missing their favourite candy and chocolate from back home, you can literally walk into the store buy local candy and sell it online to expats for three times the price!
It’s an easy, low-cost reseller business idea that has major room for growth.
As you can see, there really is an idea or opportunity for anyone who wants to start a reselling business in 2021. You don’t need thousands of dollars behind you, you can get started flipping with only a few dollars in your pocket!
Why not give it a go and see what happens?