As a wholesaler, you’re always on the lookout for new places to source great products for your customers. Regardless of whether you’re just starting out or have years in the business, you always want the best deals.
Here are 10 places you might have overlooked as places to find incredible bargains.
1. Start a Part-Time Cleaning Company to Remove Junk
One man’s trash is another man’s treasure, and the saying is especially true here. Many people and businesses don’t understand the potential of what they want to get rid of, or they simply don’t want to go through the hassle of trying to sell it. They’d rather pay a flat fee and have it done with, once and for all.
By starting a junk removal company, you’ll have plenty of opportunities to not only find some great items - you’ll even get paid to take them away!
2. Unclaimed Lay-Away
Most of the big box retailers stopped their lay-away programs a few years ago because everyone had credit cards and stopped needing lay-away - but after the Great Recession; a lot of companies have brought them back.
Some things don’t change, though - people are still beginning a lay-away and then never return to finish paying for it. Retailers are often stuck with the merchandise. As a surplus goods wholesaler, you can take it off their hands for very low prices.
3. Department Store Returns
Many department stores have liberal return policies. Like retailers’ layaway stock, department stores often have a large amount of merchandise they won’t put back on their stores’ shelves. As you’re making your route picking up unclaimed layaway, make sure you inquire about their returns.
4. Appliance/General Repair Shops
You would surprised how many people drop their appliances or other items off at repair shops and never return. The technicians, having no idea the customer won’t return, repair the item to working condition. The result is a great inventory of perfectly working appliances and items sitting in the back of the shop, just waiting for you to make an offer.
5. Dry Cleaners
People are even worse about dropping clothes off to be dry cleaned and never coming back for them. Most dry cleaners have an advertised policy of a set number of days the customer must claim their clothes. You may be able to start a brisk business simply reselling all the unclaimed clothes from your area’s dry cleaning stores.
6. Stolen Property
Police confiscate a lot of stolen property from criminals but have no way of finding the rightful owners. They usually store it all in warehouses and then sell it at auction. You never know what the police will come across, so frequent the auctions as much as you can.
7. Shipping and Freight Companies
We’ve all had packages lost in the mail at some point and weren’t able to trace them down. Rest assured they do wind up somewhere. The opportunity for you is to contract shipping and freight companies to take all those packages off their hands, especially the damaged ones. Since the packages are all closed, you usually have to contract by weight. You may also approach insurance adjusters and appraisers with the same arrangement.
8. Farms
As you drive through rural areas, stop at farms along the way and ask if they have anything they’d like to sell or get rid of. You’ll find some great antiques and other items for your wholesale store.
9. Lost and Found
Contact lost and found departments of bus stations, airports, train stations, public buildings, and park departments. Like retailers, these places are often stuck with merchandise they can’t do anything with and are usually happy to sell it to surplus goods dealers. Watches, cameras, coats - even purses and briefcases - lay around unclaimed at these places.
10. Moving Companies
If you’ve ever moved, you know the feeling of having packed for days and then realizing you still have yet more stuff left. Many people get to this point and just want to get rid of whatever’s left. Contact local moving companies and ask them to keep you in mind when these opportunities come up. By moving quickly, you can secure a lot of great deals from tired individuals who feel it’s worth it to almost give away the rest of their belongings just so they’ll be finished.
Any one of these 10 ideas may keep your store well-stocked and your business quite profitable. Happy hunting!