Quick Tips for Resellers
The Internet is becoming easier to use, the improbable story of profitable companies starting from a garage, or dorm, is now more of a possibility than ever.
As the ease of entry continues to decrease, Internet resellers are springing up across the nation. The ecommerce business model is becoming more competitive every day.
Whether you are new to the game or consider yourself an experienced reseller, here are some tips to consider when operating your eBusiness.
The seasoned vets - Experienced Ecommerce'ers
- With the speed of everything now a days it's hard to put a timeline on when you can consider yourself a true veteran. Ideally you are still learning everyday, but maybe after a couple of short years you really think you are catching the hang of this.
o Explore different sourcing options. Use new and creative ways to gather items for resale. Now that you are aware of BoxFox, make an account and start taking advantage of our network of retailers selling their excess inventory.
o If you sell items on eBay be sure your auction page for each item comes off as professional. Use proper language, colors, and images when designing. One of the main differences between brick and mortar stores and online stores is the real life stores ability to control the customer's five senses.
o Be sure to sell accessories with costly items. The margin on a flat screen or new Smartphone might be slim, but accessories that go with these such as TV mounts, or phone cases, can markup 100 to 1,000%.
New to the web - Ecommerce newbie's
- Don't dive in without first testing the waters.
o You must partake in preliminary research and discover, for yourself, which type of items are going to work best for you. Take into consideration everything you have knowledge on.
o If you have a hobby you're passionate about, or knowledge in a specific area, research that category first. Use a mix of common sense and Internet searches. A powerful tool you can use to
determine if your eBusiness idea is going to generate demand is Google's Keyword Tool.
o Determine how much space you have to store inventory. Factor in this storage area when deciding which items you can make the most money off of, but still have sufficient space to store. The margin of return percentage might be similar between a pair of running shoes and a used car but in actuality where are you going to store all these cars?
o With the last point taken into consideration there are extreme advantages to entrepreneurs with access to more space and finances. Maybe you decide to focus on larger, high cost, products that have an average turnover rate. Always try to start slow, the ease of entry and exit for ecommerce businesses are relatively low, but there is still a strong possibility of failure if you dive into it unprepared.