Estimated reading time: 4 minutes
Whether it’s covering bills or saving for your kid’s education, having a side hustle is always a plus. Let’s dive into the basics of reselling, perfect for beginners or those looking to upgrade their game.
So, what exactly is reselling? It’s the simple process of buying something – new or used – at a bargain, then you flip the item for a profit. In today’s world, reselling is easier than ever! With minimal upfront costs and even some opportunities to start for free, it’s a hustle anyone can get into.
Your start into reselling
When getting into reselling, stick with items you’re familiar with and have a passion for. Knowing your products gives you a leg up in the game. Start by looking through your own home – there’s bound to be something you haven’t used in ages that’s just waiting to find a new owner. I find decluttering and reselling items around my house incredibly satisfying. It not only clears up space but also fills up my wallet. Remember, there’s no need to go overboard or follow trends blindly. Trust your instincts and go with what feels right for you. While it’s helpful to seek advice and suggestions, don’t overwhelm yourself right from the start.
Sourcing items to resell
When you’re just starting, sourcing items to resell can seem daunting. I have listed some great options below to start!
Wholesale boxes
Perfect if you’re juggling a busy home life. You can order boxes filled with all sorts of items – from sweaters to shoes – and have them delivered right to your doorstep. It’s a hassle-free way to get your hands on quality items without having to leave home.
Thrifting
If you enjoy the thrill of the hunt, thrifting is for you! Head to your local thrift store and browse through their inventory. Look out for discount days to snag even better deals. Despite what some say about rising prices, thrift stores still offer hidden treasures at affordable prices.
Freebies from friends and family
This one’s a no-brainer. Take advantage of any free items offered to you. If they don’t sell, you can always donate them and get a tax write-off. It’s pure profit with no initial investment required!
With these simple sourcing methods, you’ll be on your way to building a profitable reselling business in no time.
Where to list items
The last part of reselling is where to sell items. First, I’d like to provide a list below of potential marketplaces online.
eBay: With millions of users worldwide, eBay offers a vast audience for your listings. While it’s relatively easy to list items, competition can be high.
Etsy: Known for handmade and unique goods, Etsy boasts millions of active buyers. Listing on Etsy is straightforward, but it may take time to build your brand and stand out.
Facebook Marketplace: With billions of users, Facebook Marketplace is a convenient platform for selling locally. Listing items is simple, but negotiation and arranging meetups can add complexity.
Poshmark: Popular for fashion and accessories, Poshmark has a large community of buyers. Listing items is user-friendly, but staying active and engaging with buyers is key to success.
Shopify: While Shopify requires more setup than other platforms, it offers complete control over your online store. With the right marketing, you can reach a global audience.
Kidizen: Specializing in kids’ clothing, Kidizen has a dedicated user base. Listing items is easy, but pricing competitively is essential due to the niche market.
Mercari: Mercari’s user-friendly interface attracts millions of users. Listing items is simple, but fees and shipping costs should be considered when pricing.
Vestiaire Collective: Catering to luxury fashion, Vestiaire Collective has a select user base. Listing items requires authentication and may take longer to sell due to higher price points.
Grailed: Targeting the streetwear men’s and women’s market, Grailed has a niche but dedicated user base. Listings require detailed descriptions to attract buyers.
Depop: Popular among Gen Z, Depop has a trendy user base. Listing items is easy, but maintaining a visually appealing shop and engaging with buyers is crucial.
Whatnot: Focused on collectibles and pop culture, Whatnot has a growing user base. Listing items is straightforward, but success depends on finding the right niche audience.
List Perfectly can help!
What’s awesome about many of these platforms is that you can use List Perfectly to manage your listings to cross-list and manage inventory. As you grow, you can easily list your items on multiple platforms simultaneously. Starting with just one or two platforms like Mercari or Poshmark is a smart move for beginners. They’re user-friendly and can help you start earning money quickly. Once you’re more comfortable, you can try eBay, where creating detailed listings is key. Mastering eBay is what I tell users is the key to the success of reselling. If you can master eBay you can use any of the platforms.
Don’t be afraid to start reselling. The good thing about this industry is there is always room to learn and grow at any level. The List Perfectly Facebook Group and Listing Party are great places to meet and network with like-minded people interested in reselling. The power of community alone can motivate you to get started!
