4 Products to Buy on Wholesale and Sell on Retail
There are many advantages to the “buy and sell” business model, like low investment requirements along with a minimal financial risk, flexibility, and the opportunity to work from home. The internet has also made buying and selling so much easier, from sourcing the products to delivering them to the customer.
The only question that remains is, what kind of items are best suited for this kind of enterprise? You’re definitely better off selling non-perishable goods, especially if you’re going to be conducting business at home, but that’s still quite a wide net.
To narrow down the list quite a bit and make it easier for you to decide, here are a few products that work well for the buy wholesale, sell retail format.
Baby and Maternity Products
From cribs to pacifiers, from feeding bottles to wet wipes, from bibs to diapers, the list of baby needs is almost endless. And then there’s the matter of clothes, which babies can outgrow rather quickly — thus the need to buy more. There are also a lot of miscellaneous items, like baby-proofing products for when the little one learns to walk and explore, play yards and rubber mats, walkers, booster seats, strollers, and, of course, toys.
Expectant and nursing mothers, meanwhile, need maternity or nursing clothes, breast pumps, nipple shields, nipple cream, breast milk bags, breast pads, nursing covers, and other tools and equipment to make feeding and caring for their babies a little bit easier.
The items that need more careful monitoring are wet wipes, breast milk bags, creams and ointments, and other similar products that have best before dates. Otherwise, most of the items in your inventory can last for years.
Asian Cosmetics
Asian women, particularly the Koreans and Chinese, are known for their flawless complexions. This is primarily why Asian cosmetics are so popular in the West and why buying Asian beauty products on wholesale and selling them on retail is a profitable venture. Most online marketplaces also have a cosmetics category, which is highly advantageous for smaller players who don’t have their own shopping platform.
It’s also easier to expand your product offerings and cross-sell items, like makeup accessories and organizers, personal care items like shampoos and conditioners, soaps, aromatherapy oils, and nail care products. If you’re a makeup lover yourself, it’s also an affordable way to source high-quality items for your personal use. Make sure to store them properly and be mindful of the expiration dates, which can be as short as one year to as long as five, depending on the kind of product.
Clothing and Other Fashion Items
Tops and bottoms, shoes, and other clothing items like hats, scarves, socks, and even jewelry are all viable items for the buy-and-sell business model. The trick is to find the careful balance between seasonal items like winter wear, and staples like dark-wash jeans and button-up shirts in your inventory so you always have something on-hand to sell.
Another thing to consider is how often you should refresh your inventory. For example, it may be a good idea to sell clothes and accessories related to a popular movie franchise whenever there is a new film showing in theaters. You also need to think about ways to clear your inventory of clothes from previous collections. Remember that while clothes don’t really expire, they may still be damaged by mold and mildew and even insects if they are not stored properly. You can try holding end-of-season sales or even giving old stocks away as prizes in a small raffle to make way for newer, trendier items.
Gadgets and Computer Parts
People love getting their hands on the newest, shiniest thing that the tech world has to offer, making the buying and selling of gadgets a lucrative business. Even older models can still be sold at decent prices, since there are also those who don’t immediately buy the newest products and instead wait for a price drop for last year’s releases — especially since tech giants continue to churn out new products so close to each other.
Computer parts, specifically individual components like graphics cards and motherboards, are also prime candidates for buying wholesale and selling retail. Nowadays, people don’t build their computers from scratch — they tend to upgrade each part whenever they have the opportunity (and the money) to do so. Keeping a few of the latest products on hand can be quite profitable, especially if you can establish yourself as a credible source of these niche products. Just be make sure that you have a sufficient facility to keep these items, as they have a lot of parts that can be damaged by improper handling and storage.
It may be a little challenging, but buying wholesale and selling retail can also be quite fun, apart from being a bankable source of income. You just need to be strategic in thinking of what products to buy and sell. Add some enthusiasm and stellar customer service and you’re well on your way to making a fortune in this endeavor.
