Selling merchandise online spares you from having to pay rent on a brick-and-mortar shop and allows you to set your own hours from day to day. If you want to dive into the world of online resale, however, you will need to make some essential preparations and come equipped with a business plan, some profitable merchandise and the appropriate certifications. Online resale is a demanding job and not suitable for everyone, but if you feel committed to this trade, you can get started in your spare time.
Instructions
1. Choose a niche about which you have some knowledge. For example, if you have an eye for valuable antiques, consider selling antiques. If you know what's hot in the video game market, consider selling video games. Choose a market that you know fairly well.
2. Fulfill your legal obligations. Most states will require you to obtain a resale license (sometimes called a seller's permit), enabling you to collect sales and use tax from customers. You can acquire this from your state's revenue department. If you plan to conduct business under an assumed name, such as "Renegade DVDs," contact your local county clerk about filing a DBA, which stands for "Doing Business As." You should also obtain an EIN (federal tax ID) from the Internal Revenue Service, as you will need it to file your quarterly taxes.
3. Write up a business plan. Decide how much you can afford for your initial investment, research the availability of merchandise in your niche, find out if consumers in the digital marketplace are actively purchasing the kind of merchandise you hope to resell (and at how much of a markup) and adjust your plans accordingly.
4. Find suppliers. Depending on the types of goods you hope to sell, many options exist. Those who wish to specialize in used items may want to peruse antique shops, estate sales, used-book stores, thrift stores and auctions. For those interested in new merchandise, consider factory liquidation stores, warehouse stores (such as Costco and Sam's Club), online wholesale providers (see "Warnings") and factory wholesale providers (see "Tips").
5. Start selling. Many avenues exist for selling online. You can sign up to sell new and used merchandise using portals like eBay, Amazon, iOffer, Sell.com and other sites. You can also set up your own website for selling merchandise, but this will require a bit of web design knowledge and a good shopping-cart program for collecting money from customers. Choose the methods that work best for you. By selling in multiple locations, you can reach even more customers.
Tags: business plan, consider selling, from customers, wholesale providers, will need
