Buying a product and selling it for a higher profit is a good source of income. This process is called flipping products which is extremely popular these days.
If you buy cheap products and sell them in bulk you can generate good revenue. Buy such products which cost you less and give you a good profit margin.
Now we’ll guide you on how to buy and sell these low-cost wholesale products for a profitable business.
Table of Contents
Characteristics of low-cost products
Firstly, understand how to choose low-cost wholesale products for reselling. For that, we have to learn about certain characteristics of these products. These include:
- Good quality
- Good profit margin
- High-in-demand products
- Long-lasting
- Low competition
- Unique
And more…
Apart from these characteristics, also check the dimensions of a product such as size and weight.
By keeping these characteristics in mind, you can find your desired products.
Conducting research on market
Research is extremely important before creating a business plan. Conduct extensive research on the wholesale market. See which products are cheaper in price and can generate a higher profit in resale.
Analyze other businesses
By studying other businesses, you can learn which products are top selling and trending in the market.
Also learn the prices of products which these businesses have set. You can estimate the profit margin. It should not be too high. Customers can switch away to other businesses. So, your price should be at a medium level.
Understand some other factors of these businesses as well including their:
- Demographics of customers
- Geographical area of customers
- Medium of promotion of a business or product
- Number of the total usage of a product by customers
- Shipping methods and costs
- Units sold per month
What does the customer want?
Customer interest is also an important factor in reselling. Ask customers about their interests and requirements. This can help you to identify demand for products.
Research on wholesale suppliers
Contact other sellers to get feedback on the wholesale suppliers and their products. Review these suppliers and products before placing an order.
Calculation of cost and profit
Estimate the costs of:
- Buying a product
- Storing it in the warehouse
- Shipping to the customers
Calculate the profits of a product. See how many units you’re going to sell. With this, determine the price of a product. Compare your costs and profits. Choose a product that gives you a good profit margin.
Evaluation of products
It is important to evaluate your wholesale products before reselling them. This is possible by contacting your suppliers. First, order a sample product. Test the quality and lifetime of the product. If found good you can place an order in more quantity. Resell the product at a higher price.
Buying niche products
What are the niche products? Niche products focus on a specific market. Companies create these products to target a specified:
- Audience
- Price Range
- Product Quality
These products are the preferences of a specific audience, unlike the common audience. Niche marketing can increase your profitability. Resell products to fulfill the demands of a specific audience. This increases the chance of customer retention.
For example, you can order school uniforms from manufacturers. And you can sell these to uniform retailer stores.
Some low-cost wholesale products
Now we are going to present examples of some of the products which are profitable and cost less.
Apparel and Fashion
Apparel is a profitable item. Buy readymade garments or unstitched fabric in bulk and sell to retail garment stores. This has a wide range of garments including:
- Caps
- Casual wear
- Frocks
- Jeans
- Shoes
- T-shirts
Fashion accessories can accompany apparel for a better appearance. Fashion accessories are always in high demand. These cost less and you can resell at a good profit margin and generate good sales. These include:
- Backpacks
- Handbags
- Sunglasses
- Wallets
- Watches
Cosmetics
Beauty and health care items are always in demand throughout the year. You can deal in the cosmetics business anytime. You do not need to wait for any season. Wholesale cosmetics items for reselling include:
- Beauty kits
- Eyeliners
- Hair colors
- Hair gels
- Lipsticks
- Lotions
- Nail polishes
- Perfumes and deodorants
- Shampoos
- Skin moisturizers
- Soaps
Electronic Accessories
Electronic accessories are in high demand. You can buy these at reasonable prices and sell them with good profit margins. These include:
- Cartridges
- Cell phone gadgets such as:
○ Batteries
○ Cases
○ Chargers
○ Earbuds
○ Hands-free devices
○ Memory cards
○ Screen protectors
○ Selfie lights
○ Selfie sticks
○ Tripods
- Computer devices such as:
○ Keyboards
○ Monitors
○ Mouses
- Energy saving bulbs
- Flash drives
- Headphones
- Laptop accessories such as:
○ Bags
○ Covers
○ Chargers
- LED bulbs
- USB hubs
- WiFi routers
Kitchen Utensils
Kitchen utensils are a part of our daily lives. We use them daily for cooking and eating. You can make a good business with wholesale kitchen utensils including:
- Bowls
- Cups
- Dinner plates
- Forks
- Knives
- Serving trays
- Spoons
- Teapots
- Tea strainers
- Whisks
Sports Goods
Sports are good for a healthy mind and excellent physical conditioning. Men, women, and children around the country crave good sports equipment. Buy sports equipment from sports manufacturers and resell it. You are definitely going to save a lot of bucks and sell many units.
Sports goods include:
- Baseball Bats
- Baseballs
- Basketballs
- Footballs
- Hockey Sticks
- Softballs
- Sports Kits such as:
○ Equipment Bags
○ Footwear
○ Jerseys
○ Protective Headgear
- Tennis Balls
- Tennis Racquets
- Training Nets
- Volleyballs
Stationery
Stationery is essential for students in educational institutions and various offices. The stationery is very cheap. It always sells and saves you a lot of money. Wholesale stationery items include:
- Ballpoints
- Erasers
- Notebooks
- Pencils
Where to find low-cost wholesale products
If you want low-cost wholesale products for reselling with great profit, find good wholesale suppliers. You can contact these suppliers and negotiate good deals out of it.
Cash and carry wholesale stores
Cash-and-carry is a wholesaling model. A wholesale warehouse sells goods in bulk and customers pay cash instantly to buy goods. Buy a variety of products with cheap rates here and resell them at bigger profit margins.
Online B2B marketplaces
Online B2B marketplaces such as Alibaba, eWorldtrade, SeeBiz, and Tundra are good sources for such products. These marketplaces provide you with a large pool of wholesale suppliers and products. Marketplaces are popular as they automate and streamline processes such as:
- Buying and selling
- Paying
- Shipping
Supplier databases
Get supplier databases from online wholesale directories such as Wholesale Central and Worldwide Brands. These directories provide you access to a long list of suppliers. You can contact them and buy cheap products for reselling.
Trade shows
Attend trade shows as you can find so many wholesale suppliers there. They showcase various products there. You can form business contacts with those suppliers.
Conclusion
We have presented so many categories of cheap wholesale products in high demand and places to source them. So, invest in these products and grow your business and income.
