Going to college or university is an exciting time, there is so much to learn, people to meet and fun to be had! It is also a little daunting, as it could be the first time you have ever spent any length of time away from home. Independence is often sought after when we grow up, financial independence is something we seek, but isn’t often found whilst at college. You could get yourself a part time job, or think a little creatively and create a side hustle. One idea is to become a reseller, which basically means selling preloved items on auction sites such as eBay.
If you have ever had any success selling on auction sites, you will be aware of how lucrative it actually is. The journey of most resellers begins from selling their own unwanted items. Once the unwanted items have all been sold, the “bug†is still there and they look for other sources of stock to sell. Profit from previous sales are reinvested into buying new stock or loans such as those from https://personalloan.co/ are used to finance the purchase of more stock.
Here are some tips on how to get your reselling business off the ground.
Source stock
You need to source stock that is priced low. The lower the price you initially buy your items for, the higher the profit. Good outlets for stock include car boot sales, charity/thrift shops and jumble sales. In time you will learn to recognise sought after brands, you will also develop the skill of haggling down prices. Another often forgotten about source of stock is the auction site itself. Often people cannot be bothered to list individual items, so they are bundled together. You could then sell on individually at a profit. Also look out for badly photographed or misspelt items, as they attract lower prices.
Photograph
Once you have your stock ensure they are presented in the best possible way. For clothing wash and iron the clothes and make any repairs as necessary. Make sure you clearly state any damage to items. Clean other items and be clear if any pieces are missing or damaged. Probably the most important aspect to attracting sales is good photography. Photograph your items to your best ability. Plain backgrounds and hanging clothes attractively really works. You could invest in a mannequin. Take a lot of photographs from all angles.
List
As well as great photographs you need to write a good description. Describe how the item could be worn/used and state sizes. Many people request measurements for clothing so save time by measuring during the listing. Research postage costs and decide on a time of day for your item to start and finish.
Once your item sells, it is time to package it and send promptly. Buyers like to receive their items quickly and it is important to use packaging that is going to protect the item during transit. Once you have commenced on your journey as a reseller it will be necessary to register as a business. You may need advice on how to do this. After a while you will become more adept at pricing your items correctly to attract more buyers. Watch your profit grow, giving more disposable cash to assist you through college!
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