How to start a reseller business: Tips and ideas for 2022
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Loading... - Nke Assomo
- 05 Sep 2022
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A reseller business can be a great option for first-time entrepreneurs. With this business model, you don’t need a revolutionary new product idea to start your own ecommerce business. In fact, you don’t even have to manufacture your own products, meaning it’s less of a hassle to get the business started.
Interested? Then read on to learn the meaning of reseller, why you should become a reseller, and how to start a reselling business online.
What is a reseller?
A reseller is a person or company that buys products from different suppliers and sells them to their own customers (usually at a profit). Resellers often provide some value-add in terms of the customer experience, which enables them to mark up the price of the items they sell. This could be something as simple as an in-depth product description, a customer loyalty program, or live chat support.
Sourcing products isn’t necessarily easy and often requires a large capital investment. Resellers are able to navigate this by purchasing products only after they’ve made a sale and have been paid by the customer. Think of reselling as a form of dropshipping, where individuals source materials and products from a variety of suppliers but do not commit to selling through any purchased inventory upfront.
This business model is easier for the average person to start and can be highly profitable, especially if you have niche expertise. For example, someone who is highly knowledgeable about fashion could start a reselling business around the different clothes that are currently on trend. Read More...
