What products to sell on your eBay, Amazon, and e-commerce stores.
You have two alternatives for selling products from home. Buy and resell products or dropship products from someone else’s inventory. Dropshipping means you list other people’s products then sell them through your own e-commerce store or on major platforms like eBay and Amazon.
Dropshipping sounds simple but simply doesn’t mean easy or profitable. If hundreds of sellers are all listing the same product then prices will plummet to the lowest seller, lowering profits to nothing. The chances of creating a winning drop ship product are 1 in 100.
Big Brand Name Products
The alternative is buying big brand name products for resale and used products are the easiest to make money with. Find used or refurbished products; see what they sell for on eBay, the best market value information platform and offer the seller 50% or less of what the market value is. For example, the market says the product sells for $200 so buy the product for $100 or less. Then resell on a major platform like Amazon or eBay, eventually through your own e-commerce store.
What products to Buy
The question is what product to buy and re-sell? The answer is whatever you want.
I like technology because it has fat profit margins of 50% or more and the demand is great. People want the latest technology but can’t afford a $1000 phone, so they buy the older generation for one fourth the price. The beauty of technology is we often never need current technology and can get along fine with older technology. There is never a shortage of older technology. You may decide to sell athletic footwear like Nike Air Jordan’s or Rolex watches, it doesn’t matter as long as the product is used because new profits go to the manufacturer, and used profits go to you.
How to Find Products
How do you find big brand name products which I buy and re-sell? Look for wholesale sellers that have what you want. For me its recycling companies, leasing companies, schools, businesses, and any place that ends up with used computer products they need to replace. The process takes time but with a little effort, you can find them.
In the beginning
I started at $250 and built it to $5000 in less than 60 days, over $100,000 in 12 months, and over 1 million a year today. If you’re not buying and re-selling technology products then you’ll have to research who has what you want. In the beginning, I bought and sold anything and everything.
Coins were bought from local coin dealers who were selling coins that weren’t good enough to sell through their stores, so I paid $20 for Morgan silver dollars and sold them for $35. After 20 purchases from one coin dealer, he realized he must be doing something wrong, so he kept those coins and sold them himself.
One supplier accumulated 6,000 cameras, so I paid him $1.00 each and ended up selling them on average for $25 or more. One leasing company had 7000 Sony readers that I found had a market value through eBay of $30 each, so I bought them for $2. I made a lot of money on that and was able to get all my cashback after selling less than 500 units. That left me with 6500 readers I owned free and clear and sold them all off at an average of $30 each, you can do the math. No matter what category you’re interested in selling, you just have to do the research to find out who has the products you want. Here are the simple steps I followed to build my million dollar internet business working from home.
- Look for big brand name products, the kind everyone knows and can’t live without
- Try buying and reselling different categories like Nike athletic footwear, or Dell laptops. Once you buy and resell products you’ll find the ones that are easiest to sell and make the most profit.
- Before you buy anything make sure you know the market value using eBay sold items as an example and what the biggest sellers are currently selling their products for and buy at 50% or less of their sale price. Those are the people you and I will compete against.
- Never overpay for anything. The more you pay the less you make. Discipline is the key to this game. Keep that 50% below market value in mind.
- Dump losers. I’ve made many bad buys over the years. Don’t hang onto your mistakes, get rid of them, and take the loss. The longer you hold the more you lose
- Always have a sale. 10 to 15 percent of sales work better than having a lower price. People buy sales even if your price ends up higher.
- Take everything you own and don’t need and list it on eBay or Amazon. This will tell you something about the different kinds of products you’ll end up looking for after you sell everything you own.
- Work every day from home. Most people quit after a few attempts. If your product is not selling for whatever reason then your price is too high and you need to lower until you get a sale. We lower prices to get momentum sales, and then raise them up after we start moving product.
- Never stop looking to buy products. You will eventually run out of the product and you must keep feeding your business or it will die.
- Don’t spend money. Save every dime you can because buying inventory is the lifeblood of your business.
- Stay focused and make each day an opportunity to learn how to build and grow your business.
Finally, try to learn as much as you can about the type of products you end up buying and re-selling. After 35 years I’m still learning different ways of getting more and better big brand name products. Your business is like a child, you need to care and nurture it until it can grow and prosper on its own.