Meet Tanner and John! This dynamic duo started up a store front liquidation store in Phoenix and, thanks to the success of their reselling business, are now an unstoppable force. Their growing inventory from The Home Depot, Wayfair, Amazon and Target, shares both extreme hauls of liquidation pallets and provides impactful how-to content, plus insightful tips based on years of reselling experience with Pallet Liquidators.
Read on to learn Tanner and John’s tips of the trade!!
As resellers, you’ve probably seen a lot of changes in liquidation. How much has this industry evolved?
The reselling market changes constantly like every other industry. When we first officially started reselling, we began with thrifting – not liquidation merchandise. We saw a profit by selling camera supplies and furniture. But as time passed, the needs of our business became more demanding, we had to adjust the way we sourced our items.
We learned early on that buying trends, return policies, liquidation regulations, and shipping costs all affect the industry. So, one skill you have to hone in on is being adaptable and becoming a creative problem solver. This will help you stay ahead of market changes and prepare your business for whatever challenges come your way.
What advice would you give to someone interested in sourcing what category to start with?
When sourcing liquidation, always start with a category you know best. For example, although there is money in electronics, automotive, and sporting goods, there is a learning curve if you have limited experience with this particular category. On the other hand, when you’re knowledgeable about the items you’re sourcing and selling, it’s easier to test, inspect, and list. Resellers should also consider the local market since in-demand products in your area can sell quickly for a higher profit.
We Suggest starting with one of our Pallet Loads at Pallet Liquidators which are typically already Power Tested. We offer Small Pallets to Full Pallets. The Pallets i started with are The Home Depot small items between $1 and $10 which are easier to sell at local swap meets or yard sales. Garage Sales do very well with cheap small inventory because you can have a lot of product that doesn’t take up a bunch of space.
What tips would you give to a reseller looking to scale up their business and start their reselling website like you two?
If you’re interested in turning your side hustle into a full-time gig, you should take advantage of the marketing opportunities at your disposal. This will help get your storefront and/or website in front of more potential buyers. A good place to start is by learning about advertising, search engine optimization (SEO), leveraging your social media platforms, capturing great photos, and making creative videos and content.
Keep in mind that platforms like eBay and Amazon already have tons of eyes on their site, but selling on a personal website is a different ball game. It’s your job to guide your audience to your website and then make the sale. But don’t worry – there are free, easily accessible resources and platforms like YouTube that can teach you how to do this in no time!
Other Ways to sell locally which make the job easier is utilizing Facebook Marketplace, Offerup, Posh mark, Etsy, Craigslist and many more niche sites as well depending on what you are selling.
What advise can we give you for starting up a storefront?
If you’re interested in moving into a storefront here are some pointers we would suggest. Make sure you are ORGANIZED! At Pallet Liquidators we get so many compliments over our local competitors Salesumo because we are organized. Our customers can find our items without digging through huge gaylords. We have all our items generally categorized. Try to post pricing on most of your items so you’re not always looking up pricing but it can be hard with new product flowing in all the time. Don’t stress on it but do your best. Also, Signage outside is KEY! If people don’t know your there or what you do, they won’t come inside to walk-in traffic which is huge because they will spread the word about your store for FREE!