If you’ve been enjoying quarantine and getting to work from home, it might be time to switch up your normal routine and consider working for yourself long-term.
While starting a business can certainly come with its challenges, it’s also an incredibly rewarding way for you to find more fulfillment, set your own hours, and even have the opportunity to make more money than you would by working a normal 9-to-5 day job. That being said, there are so many different types of businesses you could consider starting. How do you know which one is the right path for you?
One of the simplest options to consider when it comes to starting your own business is to get into the buying and selling of bulk goods. Retail, and eCommerce platforms especially, is a tried-and-true business model that you likely already have a solid understanding of, having interfaced with these kinds of businesses all your life.
You might be wondering how to get started buying and selling bulk goods. Read on for some tips and tricks to get your new entrepreneurial venture launched in as little as one to two months.
Pick a niche you understand.
One of the best things you can do when you’re starting any business is to pick a niche to focus on. Not only will determining what type of products you want to sell help you stay focused on building a brand and reputation in that field, but picking a niche will also allow you to sustain your passion for your new company.
For example, you might decide that you want to sell refurbished electronics and help people get their laptops, computers, phones, and tablets without paying an arm and a leg. If you already have a passion for consumer electronics or are good at making repairs, you might be able to handle the refurbishing process yourself.
As such, your business plan may involve buying laptops, iPhones, iPads, or other gadgets that are open box or have been returned because they weren’t functional and turning these into refurbished products and accessories on your own time.
Build a website or online store.
In order to run a successful business these days, you have to be online.
Especially coming off of the era of the COVID-19 pandemic, more and more consumers are using retailers’ online storefronts for shopping rather than heading to a brick-and-mortar store.
It’s hard to have a good idea whether or not customers will want to visit a physical store post-COVID-19; however, if you don’t want to own a storefront as a business owner, it may make more sense for your business structure to be online in the first place.
Nowadays, it’s simple to create your own website with easy-to-use online software, and you can even integrate eCommerce solutions directly into your website so buyers don’t have to visit a separate page in order to buy your goods as a refurbisher.
Find a supplier.
If you really want to make it as a refurbisher, you need to find a way to buy defective products in bulk and then perform your due diligence as a technician and fix them up so they’re good-as-new.
One place to look at when you need to buy electronic devices with defects is return pallets from companies like Best Buy, Walmart, or Amazon.
Many times, you can bid on pallets of returned or defective electronic goods and have them shipped right to your house, getting a wide array of chargers, laptops, and headphones from name brands like Apple and Dell in the process.
From there, all you need to do is fix these products up and put them on your online marketplace for potential buyers to purchase.