This seems like a great idea however it seems like there’s a lot of barriers to entry. The main one being you need capital to get your initial inventory. There is also a lot of competition.
Posted using Partiko iOS
You are viewing a single comment's thread from:
You can start off small using a platform like eBay and a dropshipping company. Hope that helps. 👍
Do you know what kind of margins these types of business make?
Posted using Partiko iOS
I think it depends on the products you sell, but there are definitely profits to be made. I would advise that you choose products that you are interested in - if you have a passion for something then that helps a lot in business.
That’s a great suggestion. Do you have any suggestions on how to actually acquire product below what other discount sites are selling it for? I’m seeing product at discount prices, but if I’m able to just google it how would my store get a competitive advantage? For me to make money I need to acquire it at a lower cost that what others are offering or for.
Posted using Partiko iOS
Yeah, that is the key. I would suggest researching the best selling items in your category on eBay and Amazon and then seeing if you can source similar items cheaper with your dropshipper.
Finding a good source is in fact key. Reselling has interested me because there are a lot of people doing it and I have been asking around about product sources which is kind of a mystery since there are not many articles written about the nitty gritty details of product sourcing. I also believe that this information is somewhat guarded because finding good sources is really the secret sauce to becoming successful in the business. I really would like to see an article written that goes into full detail from someone who has successfully built a sustainable business in the field.
Posted using Partiko iOS
This is true. I would recommend checking out oberlo.com as a tool to help source products. Hope that helps. 👍