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Not sure where to turn to find your stock? The best idea is to find a couple of supply sources
for your items so that if one dries up during a busy period, you won't be left high and
1. Garage Sales
Garage sales can be a great opportunity to pick up potentially valuable items selling for pennies.
However, they do require a regular time commitment and a lot of patience! You'll quite
likely travel around 5-8 sales before you find anything suitable. Going around garage sales requires
planning and rising early. The best idea is to look through the morning papers as soon as they
arrive. Plan your route to make most efficient use of your time so that you are not doubling
back. Make a list of items you would like to find and the maximum amount you would pay to make
a profit. And finally, don't forget to take cash! Take small bills and some change as most
garage sale owners only have a small amount on hand. It's a waste of everyone's time
if you have to race down to the ATM machine. Garage sales can be useful sources, but they rely
on luck and have a high time cost per item. Thus, serious sellers don't rely on garage
sales as their sole provider.
2. Liquidation sales
Liquidation sales are a fantastic way of finding brand-name items at enormous discounts. Check
your newspapers and look for sales in your area. Before buying from a liquidator check to see
why the goods are being sold. Most of the time liquidation sales take place for legitimate reasons
such as company bankruptcy, store relocation and so on. However, it always pays to check as you
don't want to end up with a pile of stock you can't shift. Another thing - don't
bother with liquidation stock that is outside the scope of your business. There is no point buying
liquidation bicycle equipment just because it's cheap when you only sell jewelry.
Alternatively, you can find liquidation sites on the Internet - one such site is sourcing items to sell on Ebay.These sites make it extremely easy to buy liquidation, particularly if you live in an outlying
area. One thing - just make sure that the possibility of damaged stock and used or returned
items included in the lots is small or non-existent.
Liquidation sales are a great way to supplement your stock, but they can't be relied upon
to restock the shelves.
3. Estate sales
Estate sales can be a goldmine for anyone selling jewelry, vintage clothing, books, furniture
and so on. Once again, you need to have an idea of how much you can afford to spend before you
go. Don't forget to buy items your customers would like, rather simply getting caught up
in your own enthusiasm for what is for sale. Note that estate sales run by an agent are unlikely
to garner the same bargains as one run by the family.
4. Clearance stores
At certain times of the year, most major stores will have a stock clear-out sale. Some of these
sales give you the opportunity to buy goods 50% or more below the regular retail value. This
can be a fantastic opportunity to find items to sell - or replenish your stocks. Good clearance
sales can be equal to or even below a good wholesale price. Don't forget to overlook small
hobby shops in your area with clearance sales either. If you know the store is going to have
clearance sales regularly, then this can be one method of getting stock.
Wholesalers are the most reliable method of sourcing goods. While the initial process can be
time consuming at first, it is effort that pays off. When you have found a wholesale, you now
have certainty of when you are going to receive stock and how much you will have to pay for it.
The best way to find wholesalers is to use a directory. Directories remove the risk of dealing
with illegitimate wholesalers and give you some peace of mind when dealing with wholesalers and
manufacturers from China. Wholesalers should be the mainstay behind your product sourcing.
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