Okay, you want to set up shop on eBay. You kind of know what type of merchandise you want to sell, but you don't know where to turn. Anyone in the brick-and-mortar world who plans to open a new store faces the same quandary: Find merchandise that will sell quickly at a profit.
Merchandise that sits around doesn't give you cash flow — which is the name of the game in any business. (Cash flow = profit = money to buy better, or more, merchandise.)
To gain access to legitimate wholesale sources, you must be a licensed business in your city or county. You also usually have to have a resale permit and tax ID number from your state.
Finding merchandise locally
Always remember that the cost of shipping the merchandise to you adds a great deal of expense. The higher your expense, the lower your return may be. The more you buy locally to resell, the more profit you can make.
The first place most potential retailers go is to their local wholesale district. You can find yours in your yellow pages (remember that giant brick of a book they drop in your driveway once a year) under the name of your item. For example, you want to sell women's apparel. Look up Women's Apparel in the yellow pages and find the subcategory of Wholesale. Bingo! Immediate merchandise sources, within driving distance of your home! Also be sure to check the directories in neighboring communities as well. The value of this printed (and usually overlooked) resource is immeasurable when you're starting up a business.
Newspaper auction listings
Another excellent source of merchandise for resale is your daily newspaper — in particular, the listings of major liquidation and estate auctions (usually on Saturday). Check out your daily newspaper each day and look for this page or section.
You may want to sell women's apparel, but if you can get a great deal on office or pet supplies, paying cents on the dollar, you just may bend your way of thinking!
Don't miss the daily classified section — look for ads that announce local business liquidations. Do not confuse any of this with garage sales or flea-market sales (run by individuals and often a great source for one-of-a kind items). Liquidation or estate sales are professionally run, usually by licensed liquidators or auctioneers and involve merchandise that may be new but is always sold in lots (in a quantity).
If your local newspaper has a Web site, use their online search to view the classifieds for major liquidations, estate auctions, or other similar deals. Right there online, you can often find just what you are looking for locally.
Regional merchandise marts
Your next stop, should you be lucky enough to live in a regional area, is to find out if there is a merchandise or fashion mart near you. These are giant complexes that hold as many as several thousand lines of merchandise in one area.
Merchandise marts are hubs for wholesale buyers, distributors, manufacturers, and independent sales representatives. They have showrooms within the property for manufacturers or their representatives to display their current merchandise. Under one roof, you may find both fashion and gift merchandise for your eBay business.
Wholesale trade shows
By discovering marts and checking out associated links, you'll also end up with links to the thousands of wholesale trade shows that go on across the country each year.
Trade shows are commonly held in convention centers, hotels, and at the local merchandise marts.
When visiting a show or a mart, view all merchandise before you place an order. Bring a notebook with you to make copious notes of items you find interesting and where you find them.
These trade shows are gargantuan bourses of hundreds of wholesale vendors all lined up and ready to take your orders. The vendors have samples of the merchandise in the lines they carry, and are delighted to answer all your questions about their products, credit applications, and minimum orders. These shows are designed to move product to retailers like you!
You may have to bring less than the items on this list. Be sure to check with the organization sponsoring the trade show or mart prior to attending so that you'll have everything you need. Don't let this list scare you — wholesale marts are fun and the organizers and vendors will do everything they can to help you make your retailing venture a success!
Very few trade shows are more exciting than the Consumer Electronics Show (CES), sponsored by the Consumer Electronics Association. If you buy breakthrough technologies to sell online, this show is a must! You'll find the latest in everything high-tech including digital imaging, electronic gaming, home electronics, car audio, home theater, satellite systems and much, much more. It takes days to see this show. You'll see what's new, but more importantly, you'll see what will be passé in a hurry — great merchandise to sell on eBay.
CES draws over 100,000 buyers each year and the vendors are there to sell their goods to you. Visit the CES Web site to get an idea of the excitement that the show generates.
See if the item is selling on eBay before you make your purchase. Bring a laptop with a wireless connection (if there is a hot spot at the show) or make notes for purchases on another day. Getting a good deal is one thing — selling it on eBay is another
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