So you want to start a resale business?
If youve been considering striking out on your own in this realm, youre not alone.
The bad news is that the market is pretty saturated.
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Its not a lazy persons game.
Weve got the scoop on all that and more right here.
Mainly, youll want to figure out what you want to sell and where you want to sell it.
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Maybe its books, clothes, antiques, decor you name it.
Ive had many weeks where 30-plus hours were spent only on shipping.
Decide this early on and it will in large part determine how you spend your time growing your business.
Given these limitations, many successful resellers suggest sticking to an online-only business model.
Another bit of logistical detail to work out?
Figuring out how and where you plan on storing your inventory of goods.
For this, Alsbrooks recommends taking stock of whats locally available to you.
Then theres my favorite estate sales.
When it comes to sourcing online, Alsbrooks cautions against it.
Pick a Platform
With your supply chain figured out, nows the time to get your business established.
All you really need to do ispick a platform.
Etsy has been the only one Ive stuck with, Durm said.
I also prefer Etsys overall look and user interface over eBay and other platforms.
If I post something on eBay, it might take all of three minutes, she said.
A single listing on Etsy takes hours.
Not to mention buying time, and the pressure to get good reviews.
Understand the process and fully address each job skill required, suggests Alsbrooks.
Its not that easy.
Its very competitive out there, especially post pandemic when the number of online shops more than doubled.
If youre not near the top of the game, it will be difficult to be found online.
No matter what you end up selling, starting a business will take time and work.
Looking for more tips on starting a small business?Weve got loads of them here.
Contributor Larissa Runkle frequently writes on finance, real estate, and lifestyle topics for The Penny Hoarder.
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