How to Get Into Reselling with Zero CapitalAbbakin
Are you a student, Corp member, unemployed or you are just looking for a means to generate extra income? This article is for you. Here we will introduce to you How to get in the business of reselling with Zero Capital. A business you can start with little or no capital.
The truth is, you don’t need to come up with a new way to sell things to make money on the internet. To start your own ecommerce business, you don’t even need to make your own goods.
Business models that let other people do things like make and deliver products, but still make money for you, are out there. There are many ways to make money, and one of them is reselling. It’s very easy to start reselling online with little no capital.
Let’s take you through the business of reselling and the concept of zero capital.
Who is a Reseller?
A reseller is a person who buys products from other retailers and then sells them to their own customers. But in this article you will be shown ways you can start with little or no money.
However, there are a lot of advantages to running a business that sells things. If you have a specific area of expertise, this can be a profitable business model.
A faster ecommerce business starts when you don’t have to go through the whole process of making products and getting people to buy them.
Why you should venture into reselling business
You should venture into the business of reselling for the following reasons;
As a reseller, you can set your own prices, unlike a distributor who needs a lot of money. You can choose a product that fits your business. You can also buy it at a fair price, and sell it at your own cost to make money. As a reseller, you will be able to set your own prices for your goods. The more you charge, the more money you make.
At the very least, resellers start to make money after 22 clients have been connected to them.
A reseller can start his or her business right away, without having to wait for any goods to arrive. As a bonus, it doesn’t take up much time.
3. Quick and easy growth
If you work as a reseller, you can sell a lot of different things to people.
How to Get into Business of Reselling with Zero Capital
Below are the ways to get into the business of reselling;
1. You should think about what you want to sell
The first thing you need to do is figure out what to sell in your business. When you make this decision, it will help you decide your branding, target market, and marketing strategy. It may take more thought than you think to figure out what to sell.
Though, because you have to make sure that the items you want to sell are in demand and can make money. Most of the time, these businesses are in a specific field, such as vintage clothing. We bet that you’ve got a hobby or a passion that you could use to turn it into a full-time job.
There are, however, some people who sell things who don’t say they belong to a specific group. They just look for things that they think have value and that people will buy.
2. Choose a Place to Sell on
As soon as you figure out what you’re going to sell, the next step is to decide where to sell it. Different types of products work better on different marketplaces, so you should choose the right one for you. If you’re into Gen-Z fashion, for example, depop is a good place to sell clothes. Also eBay is good for just about anything.
Your decision will be influenced a lot by who you want to reach. You need to figure out where the best place to reach them is.
However, when you start looking for a place to run your business, you’ll find an infinite number of places. For the most part, people will either sell their things in person or find a place to sell them online. Start a business on Instagram and post all of your products there.
In addition, you can also start a business on eBay and sell your products there. You could also start selling a things that people can buy. However, as it has been mentioned, if you want to reach more people, you should start selling on an online market.
3. Look for things to sell with profit in mind
If you want to start a reselling business, you will need to put a lot of work into getting products. To make money in your reselling business, you need to sell products at a price that will make money for you.
Reselling used items from your home is a good way to get your feet wet in the beginning. If they are in good shape and there is a demand, you will most likely make a sale.
4. Add value
The customer experience is very important for businesses that sell things. Make sure your customers know why they should buy this item for you. Especially if your business is all about selling new items or used items.
Differentiate yourself by adding some kind of value that makes your customer feel like shopping with you is worth their money.
5. Become friends with other people who sell things
It’s important to know that having a support network is very important for the business of reselling. It is important to get help from people who are in the same situation as you are (other resellers).
Reselling Businesses to start
Below are businesses you can start with little or zero capital;
1. Drop shipping Reselling
You don’t have to keep a lot of products on hand or send them out to your customers in a drop shipping business. You don’t have to spend money on things you might not even sell.
Also, you don’t have to worry about how they’ll get them to all over the country or even all over world. The truth is, you don’t even have to make or store any goods at all.
The only thing you need is to market and advertise to find customers and make sales. This is what you need to do.
After the sale is done, other people take care of the rest. The only thing you’ll have to pay for is the cost of marketing and advertising to get a new customer.
2. Reselling Information Products
When you run a business on the internet, you don’t have to sell physical things. The truth is that making money with digital information products is one of the easiest and fastest ways to make money.
There are a lot of ways to make information products, but the most popular formats are:
- Audio: A recorded teleconference, interview, course, or other spoken-word product that can be played back.
- How-tos, recorded webinars, and interviews can be shown in video.
- An ebook, an instruction manual of some kind, or a travel guide are all good.
There are a lot of different types of content that you can make in each of these categories, as long as it’s interesting or useful.
3. Re-selleing of used and old clothes
This is a proven way to make money. You buy wholesale clothing from vendors, fashion designers, and clothing and apparel manufacturers. You then add a profit margin and sell them in your boutique, online store, or flea market, for example.
Depending on the item and the designer, profit margins can range from 50 percent to more than 50 percent.
One of the benefits of this business model is that clothing trends always change. There’s always a need for new clothes.
Besides selling clothes, you can also specialize in a certain type of clothing, such as for children or for women and men.
4. Affiliate Marketing
Affiliate marketing is a lot like drop shipping, but there are a few big differences. With this e-commerce model, you don’t have to keep a stock of your own products.
Also, you don’t have to worry about shipping products to your clients.
It’s called “affiliate marketing,” and you can sell the products on your blog or on your e-commerce platform. Each product has a unique link that goes to your account with your affiliate partner. This link goes back to your account with your partner.
You can read on mobile friendly website designing if you need to create a website.
Anybody who clicks on the link is taken to your partner’s shopping cart where they can pay. Once they buy, the sale is recorded, and you get paid a commission.
5. E-bay reselling
Selling used things on eBay.com might be a good idea. Things that you buy from a thrift store can be cleaned up and sold on eBay to make money. You are starting your own resale shop on the web.
Related Post: How to Start Online Business in Nigeria
Reselling for big merchants or wholesalers
Reselling for big merchants or wholesalers is one of the most lucrative reselling businesses out there.
Selling through an intermediary may be a more cost-effective way of reaching end-customers than selling to them directly.
This is where you as a reseller come in.
Majorly, this form of business is carried out online, and you just require a smart phone (which you may already have).
What do you need to do?
You get pictures of items sold at a particular shop then post them for sale. Consistency is the key here, since you have to keep re-posting pictures of different things to sell.
Some Big wholesalers in Nigerian Markets are in need of these intermediaries. It’s more like affiliate marketing, but you don’t need a website.
This wholesalers give you a percentage on whatever sale you make. Some resellers even add to the actual price. This is the resellers profit.
Tupex Wardrobe, a Nigerian fashion wears wholesaler, says he started as a reseller for wholesalers using his phone. He also mentioned that as a reseller, you can work for more than one wholesaler, but focus on one niche.
Focusing on a niche e.g. clothes and accessories, will help you get consistent customers(that is , customers that need clothes and accessories).
Give it a try!
Wrapping up: How to Get in the Business of Reselling with Zero Capital
Now that you understand how to get in the business of reselling with zero capital. You need to stay consistent for any business, and that’s not different for The Business of Reselling!
It’s not enough to start a reselling business. You have to make sure that every day you are working a little bit to help your business grow.
Additionally, it doesn’t matter if you list new products every day, take pictures, ask customers for reviews, or do all of these things. Always do something even if it is small.
In the long run, this work and consistency will pay off for you. It will also help you start any other businesses that you want to start in the future.
Photo Credit: JNA Dealer Program
By: Victor Adewuyi