Want to start an online ecommerce business, but not sure how to find great products to sell? The following are five excellent sources for sourcing products for your new ecommerce business!
Garage Sales, Swap Meets, and Thrift Stores
Purchasing products through garage sales, swap meets and thrift stores can take a great deal of time. However the resell value potential for buying goods through these local resources can be tremendous! Often, the owners either don’t know the value of their items or don’t want to go through the effort of selling them online. That is why you can usually get access to amazing deals by buying locally and then reselling online. And the good news is that you will differentiate yourself from the competition by purchasing through garage sales, swap meets and thrift stores because most people don’t want to make the extra effort!
Local Craftsmen
Another local source for great products is local craftsmen, artists and/or artisans! Often, these people prefer to focus on their creations rather than devoting the time to market them as well. Or, perhaps their crafts are a side endeavor and they don’t have time to get their products online. Either way, you can become a middleman and distribute their hand-crafted creations through your online store. You can make a respectable profit while supporting your local community.
Wholesalers
If you have the finances and space to buy in bulk, you can make a great profit by becoming an online distributor! By buying in volume from Manufacturers and Wholesalers, you can make a decent profit while steadily expanding your market reach. While the time involved in reselling, repackaging, and reshipping is considerable (since you’re also selling in volume), at least you have a steady market and a steady stream of income.
Affiliate programs
Here’s one source entirely online: affiliate programs allow you to resell other products or services online and ship directly to your customers while you pocket a commission. Amazon.com may be one of the most well-known examples. Essentially, your website becomes a marketing website and virtual distributor. You never have to touch a product and you receive a quick commission. The downside is everyone else on the web can do the same thing.
Drop Shippers
Drop Shippers combine the best aspects of being an online distributor and an affiliate program participant. You can find other sources of products online which will ship directly to a customer’s door (a.k.a. “drop-ship”). In essence, you become an online distributor but without having to store any inventory. Without the overhead involved in repackaging and by being in control of the markup (something usually fixed as an affiliate), more money stays in your pocket.