Purchasing Wholesale Goods Online and Sell Them for a Huge Profit – Is It Possible?
It’s the Ultimate Business, Right??
Purchasing wholesale goods online and then selling them on eBay for huge profits.
Even better is drop shipping – selling goods you don’t even own yet, and then getting the company you buy them from to handle all the logistics. We’ve all heard the story about the single mother who bought some bags for $5 and then sold them on eBay for $150, making a cool $145 profit with 10 minutes work.
Let’s have a look at your normal 9 to 5 job and all those hassles that come with it:
– Paying for Daycare (cost $150-250 per week)
– Fuel costs that have soared through the roof (cost $100 per week)
– Boss that keeps nagging you (cost – loads!!)
– Takeaway dinners or TV dinners because you don’t have time to cook (cost – $50 per week) Not to mention all the free time that you’re missing because you have to do the day to day stuff (laundry, dishes, cooking, cleaning, bathing, helping the kids with their homework etc…) when you get home from work.
So…. all added up, your hard work is costing you $400 per week (then take tax off your paycheck and where do you end up??).
Looking at this drop shipping and wholesaling looks like a dream – you can do it in your spare time – just whip up a few ads to put on the local auction site, and away you go.
But…. if it all sounds like a dream, it probably is.
You see – yes, it is true – there was the woman who made $145 profit – but it wasn’t with 10 minutes’ worth of work. If you want to become a serious wholesale agent, or be involved in drop shipping goods you need to know a few things:
1.You Need to Do Your Homework
You can’t just go and buy that 20″ LCD television for $150 and make a $200 profit (because the RRP in a shop is $350), because that’s what every other wholesaler is doing. They are buying the big brand name products, and are selling them online as well – nothing wrong with that right? Wrong! What happens is that one retailer doesn’t have a lot of money so needs to sell his TV for $250 – so who is the customer going to buy from – you or him?
One guess – him. But… that’s OK right? You’re still making $100 profit – well that’s OK – until the next guy needs to sell his stock quickly and then the price goes to $200, and then $175 and before you know it you are making $5 or $10 – and if you take the auction fee, and your time into account – it just isn’t worth it.
So… what you need to do is log in to eBay – check out what people are buying, and what’s hot – and then check out exactly how many of the products are selling on eBay. If there are a large number – forget it – the market is flooded. What you need to do is keep looking – find a popular product that people like, but that isn’t so well covered.
So – you see – yes, it is possible to make huge profits (and I do mean huge), but you simply need to do your homework, or pay a company to do the homework for you.
2 .You Need to Trust the Supplier – Period
So… you’ve found a great product and you’ve found it for a great price. You know that it is a hot seller, but it hasn’t yet made its way into the mainstream – this is a goer. What you don’t know, is the quality of the supplier… And… that is really important. You don’t know these people from a bar of soap – they really need to prove to you that their goods are legitimate – I mean – the worst thing is for you to spend $1000, and then you end up with a pile of garbage that you couldn’t sell to a kid. How do you go about doing this?
Well… first of all do a search – in 4 ways:
1) Search the company name on Google
2) Search the company name on the Better Business Bureau
3) Search the company director’s names on Google
4) Search through the scam forums (but don’t take this to heart – many of the people that post haven’t actually dealt with the companies, and some are downright troublemakers – but if you have 1000 people saying “don’t do it, I’ve used them” you’ll be wise to heed the advice).
There are some great wholesalers on my website, and also some great companies. If you want to buy goods from USA and get it deliver at Uruguay then you must choose some reliable services like: buy in amazon or Buy on eBay from gripper.com.uy and get it deliver on Uruguay at your door step.
So… back to my original question:
– is it possible to sell wholesale goods for a huge profit online? Of course
– just know what you are doing and don’t jump in the deep end. And
– do I think you are going to make profit with 10 minutes work – NO
– you need to do your homework, or pay someone to do it for you.