Buy and Sell Wholesale From Retailers and Manufacturers

If you have made a business out of selling wholesale or liquidation goods, you may think you have it all figured out. You have a set of contacts who are wholesale and liquidation suppliers where you get your merchandise on a regular basis.

What is your markup on those items? It may be a decent markup, but wouldn't it be great if you could get a little more back? At some point you will be at the maximum capacity for what you can sell. At this point, the only way to increase your profit is to be able to increase your markup on the items you are selling.

While charging more for wholesale and liquidation items may not go over well with your customers, you can still achieve a larger markup if you learn how to purchase your wholesale and liquidation items for less.

You can do this by going to the top of the food chain. This will take a lot of work up front, but could well be very profitable for you in the long run.

You probably have a good idea where your wholesale clothing or liquidation jewelry lots are coming from. While you get them from a wholesaler, the items often have store tags, so you know where the wholesale business that sold them to you got them from in the first place. It’s time to call those retailers. 

When you first call, there may be a lot of transfers and repeat phone calls necessary to finally get the person in charge of liquidations on the phone. You should initially ask for the distribution center, then ask for the person in charge of liquidations. As soon as you get that person, make sure to write down their name and number to make them easier to contact in the future.

Important Notes when Buying Liquidation Goods

Be prepared to buy a lot. When it comes to liquidation electronics and other items, many retailers will only sell by the pallet.

Find out the condition of goods. In some cases, the goods being liquidated by the retailer are just overstock or discontinued items. Other times they are damaged or broken pieces of merchandise that you may have a tough time selling.

Have a selling plan in mind. Before you make a purchase, you should know what you are going to do with them. You should have a sales and marketing plan in place to move the liquidation goods. A retail liquidation purchase will mean a lot of items are coming into your business at once. The longer it takes to sell those items, the longer your money is locked into them.