One of the easiest ways to earn extra cash on the side is by starting a reselling business.
Now, there are lots of low-cost reselling business opportunities for anyone interested in starting one. You are probably reading this because you want to find out more about such opportunities.
Relax and read to the end. We are confident you’ll find a viable and profitable opportunity with limited startup capital requirements.
8 LOW-COST RESELLING BUSINESSES TO START
Stock Up On Deals
Exciting shopping deals are always available if you take the time to search. Such deals cover a wide range of items like cosmetics, electronics, baby toys and so on. These products don’t cost a fortune, plus, the deals or discounts on such products can be quite considerable.
We recommend you take advantage of stocking up on available deals.
There’s a catch though! You’ll need to check to find out if such discounts or rebates are restricted to one per customer or household. Stocking up on deals won’t be possible when restrictions are placed. There are lots of other deals with no restrictions.
Find these and stock up on them. You can later make an extra buck by reselling to others.
Become An Affiliate
Businesses, manufacturers and sellers offer opportunities for people to become affiliates. Most affiliate problems won’t require any form of monetary investment. Nevertheless, returns from such activities can be quite substantial when done properly.
First, you’ll need a website where you share product links and banners.
You get paid whenever shared links are clicked on resulting in a sale. You might want to align your preferences with the type of product links you share on your site. To have a more positive outcome, consider the needs of your audience.
That is a more logical way to begin. Open an affiliate account with any online shopping store and begin to enjoy the benefits.
Retailers play an important role in the distribution of products to end-users. As a retailer, you’ll be involved in purchasing products from wholesalers and resell to end-users for a profit. To make a profit, you’ll have to increase the selling price (retail price). There’s always a suggested retail price.
Here, the product manufacturer recommends that you sell a product at a set amount.
So, won’t this affect profits? Already, the manufacturer considers this. Such a manufacturer sets a profit margin that allows the retailer to still earn a profit when they sell as the recommended or suggested price.
To become a retailer, you’ll need to have a reliable wholesaler or supplier. This is your source for products.
Not taking the time to find such a supplier will adversely affect the business.
One of the first questions people might ask is if higher prices won’t affect sales. Customers prefer to buy cheaper goods right? Well, not always true. Sometimes, the reverse is the case. Now, let’s explain. Any business known for higher prices yet keeps adding to its client base does one thing right. And that is it has built a reputation over time.
A trusted and well-recommended business never lacks for clients. So, you might want to begin by building a reputation. Now, this doesn’t happen in a day. Deliberate effort is made over time (sometimes years) to get to this point. Such a business can be started with limited capital and yet grow to become a major success story.
Dropshipping is one of the low cost reselling business opportunity anyone with an interest can start. This type of business gives you the advantages of an online store, yet making it possible not to keep a physical inventory of products. Your business is to take or receive purchase orders, forward the same to the supplier or manufacturer.
The shipping arrangements are taken care of by the shipper. The reseller gets his cut of the share. There are so many examples of success stories that started with little or nothing and became millionaires. The same can happen to you if you take this seriously.
This is an internet marketing opportunity similar to an affiliate. It is another form of affiliate marketing. As a referral partner, you are involved in sending prospective leads to a primary website through your blog, or social media account. This method helps expand access to new markets for a product.
Sales made from such links or referrals fetches you a percentage of the purchase. This reseller business continues to be a great way to earn through digital promotion. So, how does the product supplier or owner keep track? It’s easy. There’s a built-in tracking algorithm that allows the product supplier to know how a link performs.
Designing And Selling Print-On-Demand Clothing
If you’ve got some design skills, you might want to turn such creativity into income-earning opportunities. Designing print-on-demand clothing is a reseller business opportunity that doesn’t take up much cash. Here, you won’t have to worry about shipping and inventory costs as these are taken care of by a third party supplier.
Meanwhile, you earn whenever an item bearing your design sells.
Distributors work with product manufacturers to move products in bulk to consumers. However, a distributor has no business with the end consumer. They only sell to other businesses (it’s a B2B transaction). Distributors can either be individuals or businesses. You agree with the supplier or product manufacturer to distribute such products to the market.
This is a profitable business opportunity. A distributor might have an exclusive territory where they supply products to. Such helps protect their business from the competition. Not all distributorship opportunities require significant capital investment.
There are low-cost opportunities as well. It depends on the type of product and scale at which you wish to operate.
These are low cost reselling business opportunities you can start today. You only need to purchase and resell a particular product or service. The potential for profits is quite good too. However, it isn’t all rosy as you’ll need to put in the work required.