How Price Per Item Plays a Vital Role

You have likely noticed some details like the total price, the number of items the box contains, or the category while looking at a BULQ lot. However, have you wondered how bottom line could be potentially affected by a Lot’s price per item?

Price per item is the average cost you incur while paying for each item of the pallet. You only have to divide a Lot’s total price (how much you have to pay for it + shipping costs – NOT original retail value) by the number of items it includes for the price per item. Therefore, the price per item of a Lot containing 100 items whose total price is say $ 400 would be $4.00 each.

How the Price per Item Matters

While it’s easy to understand the price per item, it still involves complex calculating to gauge the Lot’s potential return on investment. If you were to buy a lot with a price per item that’s too high, you would end up spending more on the inventory than what you would be able to charge for it. Again, you’ll end up earning less than what you pay for shipping and fees if the price per item for a pallet is too low.

How do you avoid such a situation? You should pose a few questions before yourself when you invest in an inventory and avoid liquidation-

There might be instances when a pallet has a high price per item as it may contain high selling popular products. You might be tempted to go for the Lot if you can afford it but we still suggest that you do some research on the average price at which you can sell the items on the platforms you plan to sell them.

Calculating the Price per Item Threshold

Ensuring a profit therefore involves research. It’s easier if you’re familiar with the value of the products you want to sell. Judging a Lot’s potential value based on its price per item involves easy steps:

Arrive at a rough estimate of what you can sell each item in the Lot for after checking the Lot’s manifest. The best way to do so is to check the price at which the items are being sold on eBay, Amazon, and other platforms
Try to estimate the costs you’ll have to incur for shipping pallets, fulfillment, and other platform costs. This is decided by the item’s weight and dimensions and the buyer’s location.
Here’s the formula to calculate your likely profit- Potential revenue - shipping and selling fees - total lot price = total potential profits
The average profit per item is derived by dividing the potential profit by the number of items the Lot has. If it’s more than the Lot’s price per item, it’s a profit, a loss if it’s not so.

If you use price per item calculations wisely, you make higher profits and avoid liquidation. It helps you form an effective selling strategy by deciding the pricing and selling platform.

Buy Liquidation Pallets That Will Give You Most Profit

Buy Liquidation Pallets That Will Give You Most Profit:
Here’s How You Can Pick The Right Ones

You want to buy liquidation pallets, sell the products and make a profit. This is a straightforward process that doesn’t need any explanation. The main part of this process is how to find pallets that contain the best products hence you have the best odds for making the most profit. The answer awaits you below. We will give you the most important points you should follow. These may look simple, but they can make a massive difference!

Do a Proper Research And Then Buy Liquidation Pallets

The first thing you will need to do is the most obvious and also the most important. You need to do research and understand the market. The goal here is to purchase products that are easy to sell and offer a high margin so you can actually make a profit. For that, time-consuming research is needed.

You need to check massive sites such as Amazon, Walmart and etc., and see which products are best-selling right now. In other words, you will see which products most buyers want and need. In addition, using Facebook Marketplace and Instagram among other platforms can give you additional information. Now when you know which products are most desirable, you can start looking for liquidation pallets containing these items.

We must add one fact. Products that come with massive discounts or are available in massive amounts on the market should be avoided. These are generally things that you will have a hard time selling due to competition and you will need to offer discounts, lowering the profit.

Keep Your Eye On Seasonal Merchandize

Amazon, Walmart, and all the rest will acquire seasonal merchandise before the season starts. You should do the opposite. You should acquire the merchandise after the season ends. Although we are referring to seasons, you can use this method for holidays as well. For instance, you can see massive pallets with Halloween costumes after the holiday. If you can, buy these pallets in massive numbers and keep them for the next Halloween. When it comes, you will have a lot to sell.

The situation is the same with Christmas, Independence Day, or any other holiday. It is the same when it comes to seasons as well. You should get mechanize that will sell well in summer during the winter and another way around. Like all other sellers, you need to get swimsuits in the winter or spring and sell these during the summer.

Seasonal wholesale liquidation pallets come in many sizes, shapes, and with all kinds of merchandise. Because many buyers don’t like to wait and keep the products and many don’t have where to keep mechanize, this point can essential for all of you looking to make a long-term profit. You always have merchandise available at a low price and you can buy almost anything you need. When the time comes, you can resell that and make a healthy profit.

Find Niche That You Like

Although it may sound like a well-known fact, most people will try to buy and sell almost anything. It is possible and appealing for some due to the thrill, but for most, it is a mistake. Instead, you should find a niche that you like and stay focused. When you buy and sell all kinds of pallets and items, you will never know all the things needed for those products. You will make many mistakes and lose money.

When you are interested in one niche, you will know all about the products and related merchandise. As such, you can use various tips and tricks to increase your profit even more. The best example is a seller who sells video games only. He knows that pairing a cheap video game with headphones, keyboard, mouse or etc. will give him more profit.

Due to the massive popularity of consumer electronics and the low price of damaged units, people who know how to repair gadgets definitely should stay focused on this niche. You can get Amazon liquidation pallets with non-working electronics, repair most of the units and sell them. These pallets are extremely cheap. The rest can be used for spares or sold as such.

Engage Buyers As Much As You Can

This section is more focused on what you should do after you have found the perfect pallet with ideal products. The next thing is to engage the buyers. This is done via the internet these days. You need to use ads and use social media among other platforms to get as many engagements as possible. This translates to more buyers and obviously a higher profit. If you don’t like using the internet or spending time on this part, hire a professional who will do this instead of you.

Always stay connected with your buyers. They will have positive and bad feedback and you should listen for both. If there is an issue respond as quickly as you can and solve it. This means that a consumer will buy from you once again. Yes, it is time-consuming and not pleasant, but it is something you need to do, period.

As you can see, finding liquidation pallets for sale is easy. Buying them is simple as well but engaging the buyers isn’t. Stay focused and always invest as much time as you can. This will help you drastically in the end and make you a massive profit.

There is no need to add that honesty is much-needed these days. Keep in mind that an honest seller will sell more than the one who isn’t. Buyers are tired of seeing one thing and getting another. Always advertise precisely what you are selling and specify as much data and details as possible.

The Final Word

Now you know which and how to buy liquidation pallets that will give you the most profit. This should be a wonderful experience for all of you and the one that is loaded with thrill. Just keep in mind all the facts we have shared above and you will be fine.

Beginner’s Guide To Buying and Selling Used Merchandise Online

It’s unsurprising if the pandemic has left you a little bit suffocated and needing more air and space to breathe. Researchers have already begun to document pandemic-related claustrophobia – unfortunately, it’s not over yet, and you might be tempted to change your surroundings a bit.

How? By flipping things you don’t need.

If you used to be anything like me, you used your house only to sleep and to unwind over the weekends. It didn’t matter if your chair was old and worn out, or if your broken-down lawnmower was lying in the corner, and if your television was sitting on a table occupying space instead of being mounted on the wall. Yes, they added to the chores by gathering dust, reminded me of my procrastination skills, but were never an eyesore.

As the new normal set in, I decided to go on a shopping spree. Among other things, I bought myself a better chair to work from home, a new lawnmower to take care of the front yard, and a replacement for the overly large table my TV was perched on. As for how I got rid of the old stuff – I flipped them. With a little bit of cleaning up and a couple of repair jobs, I not only made some space for myself but some extra cash too!

Flipping things that you don’t need is easy, all you need to do is sign up on a few apps, upload a picture, quote a price, and you will effectively be able to sell items.

Here are some marketplaces and apps that you can check out:

Facebook Marketplace

All you need is a Facebook account and the app installed on your phone. Selling items on Facebook Marketplace is a matter of just a few taps, and you can sell just about anything. All you need to do is upload a picture of the item(s), enter details and it will prompt pricing options. You can choose to ship to locations that are beyond driving distance.

If it matters, you can also take comfort in knowing who your items are going to, as you can view their Facebook profile as well.

Poshmark

Looking to lighten up your wardrobe? Poshmark enables modern-day thrifting of clothes and fashion accessories where you can sell your name-brand clothes that are in wearable condition. You get to add photos of items that you want to sell and offer discounts to tempt shoppers into buying multiple products for free.

They pose a flat charge of $2.95 on any sale made under $15 and charge a commission of 20% on items that are priced above the $15 mark. It is easy to withdraw earnings from the app by requesting the listed bank for a cheque.

Mercari

You can sell anything on this app – from furniture to kitchen appliances, gardening tools, and even beauty products. They make the flipping experience much more seamless by taking the shipping headache off your plate. Mercari has partnered with UPS, so all you need to do is take the sold item to the UPS store, and they will pack it and ship it for you.

No more looking for the right box, creating shipping labels, and taking responsibility for shipping safely. All listings are free, however, they do charge a 10% commission on every complete transaction.

Decluttr

We are constantly upgrading our tech – a new phone, a more compact and functional blender, a better laptop, and so on. The older items are only taking up space in your cabinets. Decluttr allows you to skip long-winded auction procedures, so you can receive instant payments. Once you have inputted the item’s barcode, the app will prompt you with a price estimate.

Upon accepting the bid and shipping the product, they make payments for them the next day through direct deposits, checks, or even PayPal. You can also avail of free shipping by choosing the UPS option.

OfferUp

OfferUp is another app known for its versatility – you can sell anything here. They do not charge for any local transactions and do not get involved in payments. You can use the app to message potential buyers and even meet them in areas designated by OfferUp. These areas are usually well lit and equipped with video cameras if you’re concerned about security around strangers.

While they do not intervene in the payment process, they do encourage using cash as a payment mode instead of checks, deposits, and payment apps to close transactions immediately. In case of shipping out of town – they oversee the entire transaction to ensure convenient selling and maximum buyer satisfaction.

5miles

Just as the name suggests, this app has gone hyperlocal, using the GPS on your phone to locate buyers and sellers in your area. You can either use the safe area options to make the deal where the app will direct you to a nearby police station to make the exchange.

To make it even more convenient, you can choose an online shipping option as well. They also have a video-enabled listing feature where you can describe your goods while shooting a video of them – making it easy for buyers to set expectations of the product they’re paying for.

Some Things To Keep In Mind When Selling Your Items

Flipping goods is a great practice to ensure that you get a good price for your clothes, kitchen appliances, electronics, furniture, gardening tools, lawn maintenance equipment, and much more. You can make this experience much more profitable for yourself by using these tricks of the trade:

Click high-quality pictures: There is no need to buy fancy cameras, the one on your smartphone works just fine. Focus on the lighting, angle, and background of the photo to ensure that you are showing off your products for buyers to be tempted. Natural lights and solid backgrounds are most recommended to best accentuate the product you are trying to sell.
Price reasonably and value repeat customers: Don’t be exorbitant when it comes to your price range. Keep in mind that this is a community of people who are trying to make the most out of the resources they have. When you price very high, you are killing the purpose of flipping, to begin with. To value customers who return to you, offer them nominal discounts. Loyalty counts for something!
Offer elaborate, yet accurate descriptions: Mention colors, measurements, functionality, and everything that a buyer needs to know about the product on the description. Doesn’t matter if you are selling lawn care equipment, furniture, or clothes – mention everything that you have used it for and what are the benefits anyone will get if they buy the product from you. Detailed descriptions generally induce feelings of trust in potential buyers, after all.
Use keywords: While we are on the subject of descriptions, ensure that you are using keywords that someone may use to search your product. This helps the algorithm of the app to easily locate your product and showcase it to genuine and relevant buyers rather than just someone who will scroll/swipe past it. Not only will this put your product on top of the pile, but will also accelerate your transaction.
Stay honest about the flaws: You’re selling products that you have used already and there is bound to be some wear and tear. Doesn’t matter if it is a scratch on the surface, a tear in the back, compatibility issues, a button that requires some attention – you need to disclose all flaws that are on the product. Double-check, it’s quite possible that you haven’t noticed them while using the product.

Tips For Buying Flipped Products

Flipping is not just about selling and making some money, but it is also about buying and saving some. Thanks to e-commerce, we search, compare prices, accumulate all sorts of discounts and coupons, and order in literally less than ten minutes. But do they have a character and a story behind them?

Used products have a value that goes beyond money, and it could be rather devastating, but necessary for someone to part with them. They could also be unwanted items. Either way, you are giving something a new life, a new journey in the world. Here is why used products are a lot more effective and functional for you:

You get more for less: want to get the kitchen aid that is out of your budget? Or the automatic lawn mower you cannot afford? Flipping is a cost-effective solution. Considering these products have been used before, they come at a much cheaper price and maybe you will be able to buy something to go with it with the remaining budget.
You support the local economy: in a time where the world is closer to each other and it is possible to get anything from anywhere in the world, it is essential to take care of the ones around you. Your purchase may just be putting the next five meals on someone’s plate. How’s that for a thought?
You save the environment: Manufacturing commodities comes at a cost to the environment. By thrifting/flipping, you are preventing usage of energy, pollution, packaging wastage, and thereby reducing your carbon footprint.

Doesn’t matter if you are looking to buy or sell, download the apps mentioned and you can get flipping in literally no time.