2017-12-05 00:00:00 Running a Business English Earn extra income by starting a resale business where you buy items in stores and sell them online at a higher cost. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/12/Small-business-owner-reviews-online-resales-and-profits-near-clothing-racks.jpg https://quickbooks.intuit.com/ca/resources/business/maximize-profits-online-sales/ Maximizing Profits with Online Resales

Maximizing Profits with Online Resales

1 min read

Flipping items online is a great way to make extra money. If you’re a savvy shopper, you can make handsome profits with minimal work. At the same time, you can end up spending more than you make if you’re not careful. Here are some tips to boost your profit potential.

To find cheap products you can resell at a higher price, you need to know where to look. Try shopping both online and in brick-and-mortar stores. Visit your local Goodwill and other thrift stores, and look for desirable items that seem under-priced. Bring a smartphone to compare the prices of items in the store with those of similar products on eBay.

Scour the internet for bargains. If you follow online forums related to your niche, you should have no trouble learning about sales. You can also search for items to resell on Amazon or eBay. Sometimes you can simply buy a product and relist it as soon as it arrives. Becoming an eBay or Amazon reseller is easy once you’re familiar with the platforms.

Another way to profit by flipping products is to dropship through AliExpress. You don’t even need to touch the products. Simply list the item for more than the listing price, and then plug the buyer’s information into AliExpress when you make a sale. Just make sure your customers know about the long shipping times, since your products have to come from overseas.

How you present your products can make or break your business. The key to successfully flipping products is to create professional listings with high-quality photos and clear, detailed descriptions that are 100 percent accurate. As you sell more products, you gain positive reviews, which give potential buyers more confidence in you. By offering exceptional customer service, you also build up a stock of repeat customers, especially if you’re selling niche products. Becoming a flipper takes time, but if you persevere and establish yourself as a trusted seller, there’s no limit to what you can achieve.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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