subject: The Dos And Don'ts Of Buying And Reselling For A Profit Online [print this page] Do you want a fairly easy way to make money from home? If so, you should look into the buying and reselling of goods. Goods? Yes goods. It is a phrase used because you can literally buy and resell just about anything - kids toys, movies, clothes, books, homes, cars, antiques, and more! Before you get started though with this fairly easy way to make money from home, keep reading for some helpful dos and don'ts when it comes to buying and reselling to make money.
DO know that choosing a niche has its upsides and its downsides. A niche is when you focus on one item only or a group of certain items. For example, you can sell cell phones and that would be your niche or you could decide to buy and resell antiques. If you intend to run an online store, it might be a great idea to opt for a niche because you can establish yourself as an expert on those products. However, you can expand your earnings by buying and reselling whatever you can get your hands on.
DON'T pay too much for the products you will resell. You will only make money if your resell value is higher than what you originally paid. This requires a little bit of research on your part. Before buying a used computer to resell, research on the average selling price; what is it right now? Ensure you pay less than that selling price; the lesser the better and the higher your profits will be.
DO use tools that make it easier and more profitable to buy and resell to make money. Some resellers hit up yard sales, thrift shops, discount stores, estate sales, and so forth. You can do this too, but you can use the internet. Classified websites are home to many items you can buy and resell to make money. To cut down your internet search time, consider buying a software program that lets you search all of these websites at once. So lets say that you want to resell computers to make money, install one of these programs. Do a search with the phrase "computer" and watch as thousands of results appear on your computer screen. Most programs even let you set a price range or sort your list.
DON'T forget about free things because they do have potential. As mentioned above, focus on cheap products so that you reap a bigger profit when they are sold. In addition to focusing on low or cheap priced items, also focus on free things. Craigslist and other similar websites are jam-packed full of free things; lots of free stuff. Granted some of these free things are junk, but you might find some hidden treasures that need just a quick cleanup before reselling to make money.
DO take the time to repair or clean all products you intend to resell to make money. Speaking of that cleanup, you might be surprised how much more profits a wet soapy washcloth can get you. Before reselling any items (even those that look okay), do a quick cleanup. If you can specialize in the buying and reselling of broken items (like computers, cell phones, or furniture), fix them up and double or even triple your profits!
DON'T forget that the buying and reselling of all goods is a profitable business. This is always important to remember because some individuals just start buying and reselling products, like used furniture, on the side only. Yes, buying and reselling to make money is nice for some extra cash, but it can easily become a full-time job if you play your cards right. In that event, remember the above mentioned internet search tools that make it easy for you to find products to resell. You might even be able to use some of these programs to find clients to resell too!
