Liquidation Pallets: Tips to Bid on Pallets & Boost Profits
Reselling is an attractive business. Most people start out of their home, selling items that they no longer want. But, to turn a reselling strategy into a business that earns more than just extra change, you'll need to invest in some inventory. Bidding on pallets and buying liquidation pallets is one of the most common ways to do just that.
Where can I buy liquidation pallets?
There are many places to buy pallets of off-price goods. Thanks to YouTube and the internet, resellers now know about Amazon customer returns. There are plenty of unboxing videos that show the process of ordering Amazon customer returns through online liquidation centers and wholesalers. But, in many cases, there are large amounts of product that is broken, heavily used, or just plain invaluable.
Thankfully, there are other types of off-price merchandise that resellers can purchase. At Take It By The Pallet, we mostly buy shelf pulls. Shelf pulls is a merchandising term to describe surplus items. Shelf pulls are sometimes referred to as overstock, surplus or closeout items. But, what makes the shelf pulls different is that they are usually "pulled" or removed from stock because of merchandising real estate demands.
The cost of shipping pallets of merchandise
Buying liquidation pallets through online liquidation centers comes with a big shipping price tag. In some cases, the price to ship your items can be double that of what you paid for the pallet itself. So, if you can actually go, in person, to a facility that sells liquidation pallets, that's your best bet to get the highest return on your investment.
At Take It By The Pallet, we encourage our customers to come to visit us, see the pallets in person and bring their pallets of merchandise home. That way, they can save on heavy shipping costs and boost their profits.
The quality of the pallet merchandise matters
Of course, you want your pallet of merchandise to be filled with quality goods. With customer returns and other off-price merchandise, it can be difficult to predict how much you'll be able to resell. Like anything else, there are trade-offs between buying pallets that are so heavily discounted. If there is limited information about the items or a shipping manifest that doesn't really tell you what the merchandise pallet holds, it can put you in a risky situation.
Especially if you're paying a hefty price for shipping, you need to be able to resell a certain percentage of the goods to make a profit. Again, that's why shelf pulls are an attractive type of merchandise. Because the items are often unopened and in great condition, there's less risk for the buyer.
Buying low and selling high is at the core of any successful business. But if you’re going to be successful, you need to know as much as possible about the goods your buying. At Take It By The Pallet, we do our best to provide more product photos and information than our competitors.
Resale Value: Best items to buy low and sell high
- Books and Textbooks
- Picture Frames
- Video Games
- Brand-Name Clothes or Clothing Lots
- Pyrex and Glassware
- Sporting Equipment
- Records and Record Players
- Anything With a Tag
Again, savvy resellers are always on the lookout for a good deal. But a low price doesn't result in a smart buy if the product loses a substantial portion of its value once purchased. Make sure to understand the quality of the merchandise and any related costs before you buy.