Are you looking to start reselling but unsure where to begin? This blog post explores ten effective methods to find profitable items, each with pros and cons. We’ll cover everything from time-consuming thrift store searches to upfront investments in retail arbitrage and concerns about item quality and competition. With research and preparation, you can navigate these challenges, build confidence, and maximize your reselling potential. Let’s dive in and discover the best ways to find items to resell!
Thrift Stores and Flea Markets
These places often have hidden gems at low prices, including vintage clothing, furniture, and collectibles. Shopping at thrift stores and flea markets can be educational. You can learn about different eras, styles, and the history behind various items.
- Pros:
- Low-cost items
- Unique and vintage finds
- Frequent new inventory
- Cons:
- Time-consuming to search
- Quality can vary
- Competition from other resellers
Garage Sales and Estate Sales
You can find a variety of items at bargain prices. Arrive early to get the best selection. Estate sales, in particular, can offer unique and rare items, including antiques, vintage clothing, and heirlooms. These sales often include items that have been in a family for generations. Garage sales are often community events where neighbors come together. It’s a great way to meet people and engage with your local community.
- Pros:
- Bargain prices
- A wide variety of items
- Potential for high-profit margins
- Cons:
- Limited to weekends (in most cases)
- Requires early arrival for best items
- Weather-dependent
Online Marketplaces (eBay, Craigslist, Facebook Marketplace)
There are websites and apps where you can find items to flip, compare prices, and make purchases from the comfort of your home. You can browse, compare, and purchase items at any time, from anywhere, without needing to visit physical stores. The process begins with finding discounted or clearance items at retail stores like Walmart, Target, or other big-box retailers. These items are often marked down due to overstock, seasonal changes, or store-specific promotions.
- Pros:
- Convenient and accessible
- Wide range of items
- Easy to compare prices
- Cons:
- Shipping costs and logistics
- Risk of scams
- Competition can drive prices up
Retail Arbitrage
This involves buying discounted items from retail stores like Walmart, Target, or clearance sections and reselling them at a higher price online. Retail arbitrage requires minimal upfront investment compared to other business models. You can start with a small budget and scale up as you gain experience and profits.
- Pros:
- New items in good condition
- Potential for high-profit margins
- Seasonal sales and discounts
- Cons:
- Requires upfront investment
- Time-consuming to find deals
- Possible return policies to navigate
Wholesale Suppliers
Buying in bulk from wholesalers can reduce costs and increase profit margins. Websites like Alibaba and DHgate are popular for sourcing products. Working with wholesalers simplifies your supply chain by consolidating your purchasing process.
- Pros:
- Lower cost per item
- Consistent supply of products
- Potential for bulk discounts
- Cons:
- Requires larger initial investment
- Storage space needed
- Minimum order quantities
Auctions
Both online (e.g., eBay auctions) and local auctions can be good sources for unique items. Auctions often feature antiques, collectibles, electronics, and vehicles. This is a great place if you have specialized knowledge like you work with cars.
- Pros:
- Unique and rare items
- Potential for low prices
- Exciting and competitive
- Cons:
- Unpredictable prices
- Requires quick decision-making
- Possible buyer’s premiums
Note: If you’re trying to figure out what items to sell on a platform like eBay, take a look at this list.
Liquidation Sales
Companies often sell off excess inventory or returned items at a discount. Websites like Liquidation.com offer such opportunities. When local businesses face closures, liquidation sales provide them with an opportunity to recoup some losses. Liquidation sales support local communities.
- Pros:
- Deep discounts
- Variety of items
- Opportunity to buy in bulk
- Cons:
- Items may be damaged or returned
- Requires inspection of goods
- Limited availability
Networking
Join local reselling groups or online communities to get tips and leads on where to find profitable items. Attending local events, meetups, and trade shows can help you build strong, personal connections with other resellers. Engaging in online communities can lead to collaborations, partnerships, and even mentorship opportunities.
- Pros:
- Insider tips and leads
- Support from community
- Potential for partnerships
- Cons:
- Time to build relationships
- Information may not always be reliable
- Competition within the network
Specialty Stores
Depending on your niche, specialty stores can be a goldmine. For example, if you’re into flipping electronics, check out stores that sell refurbished gadgets. Specialty stores focus on a narrow range of products, allowing them to offer a more curated and high-quality selection.
- Pros:
- Niche-specific items
- Higher quality products
- Knowledgeable staff
- Cons:
- Higher prices
- Limited variety
- It may require specialized knowledge
Dumpster Diving
While unconventional, some resellers find valuable items that others have discarded. The primary appeal of dumpster diving is that it’s free. You can find items at no cost, which can significantly increase your profit margins if you plan to resell them. By rescuing items that would otherwise end up in a landfill, dumpster diving helps reduce waste and promotes recycling and reuse.
- Pros:
- Free items
- Potential for valuable finds
- Environmentally friendly
- Cons:
- Legal and safety concerns
- Time-consuming and dirty
- Unpredictable quality
Next Steps
Do any of these methods stand out to you as appealing, or would you like to learn more? How about free coaching. Yes, I’m completely serious. I will coach you on any of ways I shared. All you have to do is fill out the form below.