As some of you may know I am trying to start my own woodworking business, and I was hoping to keep my 9 to 5 while building it up. Unfortunately life has a way of throwing a curve ball at you at the worst time, and you have to change up your plans. I could just go with my normal plan of selling signs and other crafts, but right now that's not enough.
So I've decided to jump into wholesale retail. I have done some research, and looked over several methods. All have pros and con, so I decided to go with the two with the least risk at the moment.
Luckily we have a liquidation warehouse near our home, and you can pick up a load of stuff for about $3 an item and flip it online for a profit. There is some risk, especially with electronics, but I have had good luck so far and everything's worked as it should. You will need storage and do research on pricing, and there's no guarantee it will sell. But I believe that if there's no risk there's no reward.
The other method is the goodwill, flea markets, and buying at a discounted rate. The good thing is you can check the product before you buy. This isn't perfect tho, you never know what you will find, and you have to go regularly to keep a decent stock. I got very excited the other day at the goodwill, because I found a nice nightstand for $6, but after checking it out I found that it was particle board and not real wood. So if you do try this be sure to check the product well before buying it.
I'm not sure how well this plan will go, but I'm enjoying it more than any job I've ever had. It's not an easy way to make cash and there's a lot of leg work and research involved, but I'm enjoying it so far
Hi timbot606,
Good start....where do you sell these wholesale finds on Ebay or swap meet?
What kind of wood business were going to start?
On social media, flea markets, yardsales. I may try ebay and amazon once I've grown some. Signs and wall art right now, but I plan on moving up to furniture in the future.
You should not wait til later to sell your stuff on Ebay since it is where u can sell to all 50 states and around the world. Sell seasonal stuff on Ebay so, you can sell year around.
Yea, I've thought about that. I just don't like the idea of having to give up a portion of my profits
Or you can just advertise your products on Amazon if you think they have costly selling fees or sign-up for an Individual Seller Account, which is cheaper. No monthly subscription fee and $0.99 per item + referral fees and variable closing fees, from $2 to $3 per sold item.
I plan on using Amazon and ebay. I just want to do more research, because some say Amazon works best for brand new, or like new products, and others say different. I may just have to learn from personal experience.
I hope this can help you with your research Amazon Services
I'm not a pro but I manage an E-commerce business and we list our items on Amazon. And that's where we're getting 90% of sales revenue :)
That way of thinking is not a smart business thinking....imo.
Do you know how big Ebay market is?
If you sell at local swap meet or craft fairs, they are going to charge you rent too. Ebay take certain small percentage for basically advertising for you all over the U.S.
Yea, I know. I've sold on ebay before and I know you can move a lot of merchandise.