You have always wanted to be your own boss and start a home-based business that will allow you financial freedom and the ability to work when you want and on your own terms. Purchasing liquidation pallets to resell is a great way to start a small business without spending a small fortune on upfront costs. Here are a few simple tips to help you purchase your first liquidation pallet.
Create a Budget
First and foremost, create a budget based upon the provided MSRP, or manufacturer's suggested retail price, per item on the pallet. Depending upon where you purchase the pallet, you might not be given the number of items on the pallet or a manifest of what is on the pallet. In this case, keep in mind that you are not guaranteed to get back any percentage of your money.
Additionally, if you are purchasing the pallet from an online auction, set a budget and do not exceed this number. It can be exciting to bid in an auction and unfortunately, the thrill of the auction may cause you to pay more for the pallet than it is worth, or more than you can afford.
Purchase From a Reputable Liquidation Company
There are several liquidation companies, and unfortunately, some are not as reputable as others. Do your homework and research the liquidation company before you agree to purchase a pallet. Search on the internet or ask your fellow resellers about the company to ensure you are working with a company with a stellar reputation.
Understand Hidden Fees
The price of the liquidation pallet can seem straightforward. However, you will also need to include some of the other fees that are associated with the purchase price. There is the cost of shipping, which will vary greatly depending on several factors. For example, if the pallet weighs several hundred pounds and you are having the pallet shipped across the country, the cost will be much higher than if you are having a smaller pallet shipped to you from the same state.
Make Sure You Have Enough Space
Finally, one of the biggest mistakes you can potentially make is purchasing a pallet that you cannot accommodate. A pallet can hold a lot of merchandise, and if you do not have the space to store or display these items, you mind wind up damaging some of the pieces or having to spend extra money on storage space.
From making sure you have the space to accommodate the pallet to researching the liquidation company, there are several things you need to keep in mind when purchasing your first liquidation pallet.
For more information on liquidation sales, contact a company near you.
Share2 May 2022
I have loved to shop ever since I was a young girl and have always considered it one of my favorite hobbies. While many people find shopping a chore, I love hunting down great bargains, and I often check out every online and brick-and-mortar store that offers an item before I purchase it. That way, I can stretch my shopping dollars and stick to my relatively tight budget each month. I know that there are many people out there that find hunting for deals a chore or simply don't have time to do it, so I thought I would start a helpful blog where I share some of my most recent new shopping deals and discoveries. I hope you come back often and my posts help you!