Rule 1 for Beginner : never pick up a product whose margin is less than 50% unless the sale price is> 5000.
Rule 2: Find products to meet rule 1 or create services to meet rule 1.
Rule 3: go big or go home
- 1 11 top products you can buy cheap and sell high for profit
- 1.0.1 1. Medical and health devices
- 1.0.2 2. Electronic devices –
- 1.0.3 3. Luxury decorative products
- 1.0.4 4. Women’s Footwear
- 1.0.5 5. Toys, games and sports equipment.
- 1.0.6 6. Watches
- 1.0.7 7. Furniture
- 1.0.8 8. Sporting goods
- 1.0.9 9. Gardening tools
- 1.0.10 10. Phone Accessories
- 1.0.11 11. FASHION CLOTHING
- 1.1 Where to buy items to resell?
11 top products you can buy cheap and sell high for profit
1. Medical and health devices
Medical devices designed for consumers to buy and use without a prescription have a potential market for orders of magnitude greater than devices sold only to doctors, hospitals or EMS. And the barriers to entry are lower for consumer devices, with many more potential distribution channels on and offline.
2. Electronic devices –
Electronic items are one of the most imported items, including mobile phones data card usb. A good majority of the Indian market is covered by Chinese electronic goods and its demand is not decreasing. Any smart electronic thing you see in the Indian market is exported more from China.
3. Luxury decorative products
Decorative items are in great demand in the Indian market that includes works of art, delivery of wall arts, colored electronic bulbs, cartoon characters, teddy bears, toys, etc. To obtain large revenues, you need to know the consumer demand so you can import those items from China.
4. Women’s Footwear
China’s women’s footwear, especially fashion sandals and boots, has a higher quality than Indian suppliers. It is as cheap as 35 bhat and sells for 999 ~ 1299 inr in the retail / online ecosystem. If you are careful when selecting quality and obtain products with adjustments according to the Indian market, you can purchase products of less than 50 bhat and sell them to luxury clients / clients. Initially, you must take the services of a merchant while working on your first shipment. Local agents in China also play a vital role in helping you obtain goods and organize transportation.
5. Toys, games and sports equipment.
The toy business in India is increasing with each passing day. If you observe the recent development in the toy industry, it is estimated that the toy industry will grow between 15 and 20% each year. There are many toy libraries in India that are climbing new heights of success.
You need to find a source of watches where you can get a constant flow of them at a very good price. Then, you must identify a market where you have little competition and prices are artificially high.
Furniture sales are a lucrative business not only in the India but also throughout the world. Because every home or business needs furniture, right? Any type and size of home and business in any location needs to have furniture, even the simplest chair, table, cabinet or bed.
A furniture store seems like a good business to participate, as there are many opportunities here.
Many of our customers perceive this commercial opportunity and are eager to try to import furniture from China to sell them.
8. Sporting goods
sporting goods stores averaged around 37 to 38 percent of gross profits. According to sports retailers and the largest GPM average for sporting goods stores is approximately 38.5 percent.
GPM = gross profit margin.
Benchmark for profit margins: A company with higher profit margins can obtain equal net profits in sales significantly lower than a low profit margin business. good profit margin for a company
Net profit margins: Despite more than 37 percent of average GPM for sporting goods stores, the average net profit margin before taxes fluctuated between .8 and 1.5 percent in recent years. This relatively thin net profit margin is the result of the relatively high overhead of sporting goods stores, since they have to keep large spaces on the floor and generally have relatively high advertising costs.
Return on assets and equity: two other benchmarks related to earnings to evaluate good sports stores. for sporting goods stores it ranged between 3 and 4 percent.
9. Gardening tools
Since many homeowners are increasingly investing in decorating their garden or garden with beautiful flowers and plants, the demand for gardening tools is also increasing rapidly. Therefore, seeing market demand, several companies are entering this market. Buy this, you can understand the size and growth of the garden tools market in India. In addition, India is a large country with the second highest population in the world. Imagine if each home seeks to buy gardening tools and you would supply them to those customers. Several manufacturers have appeared and are already selling in the market. Some are even exporting.
10. Phone Accessories
In this day and age, it’s rare to see someone who doesn’t have a cell phone. That alone makes a cell phone accessory eCommerce store a gold mine. With a wholesaler like Reiko Wireless Inc., you’ll be able to give the consumers what they want: a unique way to showcase their phones!
11. FASHION CLOTHING
It is a good decision of yours to start your own business as a fashion clothing re-seller. To start reselling a clothing business, you must understand some points.
Choose the product category in which you want to start.
As women’s clothing has many categories, and always has more demand on the online platform.
Set the margin according to the market standard so you can easily present the product to your customers. Once you have brought items at wholesale prices, you can decide the percentage of margin in which you get a good profit.
Where to buy items to resell?
It depends on the product category
For the most part, you will find all the products at the lowest price in Delhi and Mumbai so you can play with margin, because selling online is about prices.
Many people import Alibaba products and sell them online. This business model can be incredibly profitable, but it carries a great risk.
You should know how to adequately supply the products, determine their level of demand, ensure that they are profitable and deal with the entire process of supplying products from Chinese suppliers. The final step can only be a big headache.
One of the most popular methods is to import white label products and mark them as your own. But a lot of research is needed to do it right and it is easy for you to lose your shirt if you accidentally buy a large order for an item that has no demand or viability.
One of my best advice; You don’t get emotionally tied to a product. What I mean is that you don’t try to sell a product because you think it’s good and everyone should buy it. Do your market research and decide what your customers want and what they demand. At the end of the day, your business is there to earn money and not lose it due to bad purchasing decisions or excess inventory. There are still many other things to consider, but without knowing exactly what you intend to sell and to whom it is addressed, difficult to detail and specific. Although I hope this helps you. Best wishes in the growth of your business.