If you’ve found yourself out of work due to coronavirus, you’re not alone. Over 42 million Americans have now filed for unemployment. What’s more, with stay-at-home orders still in place across many parts across most of the country, finding a full-time job, or any extra income-generating work might feel nearly impossible. Whether you’re living alone or supporting a family, reselling can give you the opportunity to supplement the income you’ve lost and also gain the flexibility you need during these times.
In this article, we will walk you through some of the most important steps to become a reseller as well as some tips on how to begin.
What is reselling?
Reselling, when it comes down to it, is the process of buying merchandise and reselling it in places like online marketplaces or brick & mortar discount stores. Online resellers, for example, will often buy merchandise in bulk quantities and then resell single items – for a profit – on online auction sites like eBay or Poshmark. These marketplaces give shoppers the opportunity to search and find amazing deals across hundreds of different categories. But have you ever wondered where all of that merchandise comes from?
In many cases, resellers purchase products in bulk – for pennies on the dollar – and use these platforms to sell the inventory to customers at a discount, while still making a profit.
Become a registered reseller
Now you may be thinking to yourself, “Wow, that sounds awesome but where do I even start my search to get these products?” Lucky for you, that’s what B-Stock specializes in! We are the world’s largest network of B2B marketplaces for returned, excess, and other liquidation merchandise. B-Stock operates marketplaces for today’s largest retailers and manufacturers including Walmart, Amazon, Target, Macy’s, and Wayfair, among others. We match you, the buyer, with returned, overstock, and liquidated inventory from well-known sellers.
Now, this is the part where you come in! In just a few easy steps you can be on your way to buying and reselling brand name inventory and turning a profit within a few weeks.
Get a resale certificate
So how does this all work? Depending on what state you live in, the rules will be a little different, but to get started you’ll need a resale certificate. It’s totally free and once you have your certificate, you can begin bidding, buying, and reselling liquidation merchandise. We require all of our buyers to have a resale certificate; plus, it’s important to have one if you are looking to start a resale business of any size. Having a resale certificate exempts you from paying taxes on the goods you purchase for resale. This allows you to get the most profit from your product while complying with state tax guidelines.
Register and bid on B-Stock
With your resale certificate ready, you can now register on any of our 65+ retailer marketplaces. Each marketplace provides you with direct access to top retailers’ inventory across top categories including apparel and accessories; toys, kids & baby; consumer packaged goods; and home & garden. We also offer cell phones and consumer electronics from brands including Apple, Samsung, LG, Bose, and many more!
Once registered and approved, you’re on your way to reselling! Now you can view and bid on live auctions from any retail marketplace you are registered on. Auction lots can be a single pallet up to full truckloads with bidding beginning at just a few hundred bucks. If you’re interested in taking a deeper dive into buying liquidation merchandise, we suggest reading our ultimate playbook How to Buy Liquidation Inventory.
If you’re not ready to buy bulk lots of merchandise to resell, we’ve got the perfect place to start small.
Start on B-Stock Supply
When B-Stock was founded over 10 years ago, we made it our mission to make reselling available to as many buyers as possible; so, we created B-Stock Supply. A business-to-business marketplace that connects small business buyers and sellers of returned, excess, and refurbished inventory. This gives buyers the chance to bid on smaller lot sizes with smaller prices that are manageable on any budget. On B-Stock Supply, source merchandise across the same categories as many of our large private marketplaces but grow your resale business at a pace that’s comfortable for you.
Begin reselling today
Whether reselling is just a stop gap between now and your next job or it becomes a full-time gig, we’re here to help you find whatever products you need to build your reselling business. Start searching different categories or product conditions and begin browsing all of the live auctions currently available on B-Stock Supply.