With E-commerce and digitalization expanding their wings all over the globe, entrepreneurs have started craving for limitless ways to earn money online.
one such way of earning money online is buying and reselling products. The roots of this entire business strategy lie offline where since time immemorial,
businessmen have been trading on retail business which consists of buying goods and reselling them.
Even if you are a nice entrepreneur with a proposal for a small investment in your business,
you can roll up your sleeves and dive into this beneficial mode of money-making.
RESELLER BUSINESS(BUYING AND SELLING PRODUCTS ONLINE)
Table of Contents
What is Reseller Business(Buying and reselling)?
Reseller business is a business process of buying products at a lower price and reselling them at a higher price. There are various ways to purchase and sell products online.
For instance, you can purchase products offline and then resell these products online on your own online store or other product selling sites.
You can also purchase products online at a cheaper price from a third party(manufacturer or wholesaler) and sell them to the customers without holding any inventory or stock.
The third-party (manufacturer or wholesaler) can also deliver the goods to the customers directly, thus relieving the retailer from a burden. The retailer acts as the middleman between the third party(manufacturer or wholesaler) and the customer. meshoo.com, glowroad.com are examples of a few reseller websites.
People who love e-commerce and want to earn money online for the rest of their lives.
1. The first and foremost homework is to research in and out of the buying and reselling market carefully which is the foundation stone in propelling your business.
2. You should have an attractive online store with a good payment system.
3. You should be competent to be able to manage your store’s customer service by resolving customer’s queries and also process refunds.
4. Ample social media presence to promote your online store.
5.Excellent communication skills.
6. You should be able to adapt to any business environment.
How to get started:
One of the easiest ways to start online buying and selling products is by signing into a reselling website called Glowroad.com.
What is Glowroad.com? Glowroad.com is a product reselling website where you can easily start earning money online. There are different varieties of trendy products that are available online at good wholesale rates.
You can start reselling these products after you add your margin. Glowroad also successfully provides its own shop creating a tool, gateway for payment, and also delivery support.
Glowroad is a perfect opportunity for anyone who has the eagerness to earn money online especially women entrepreneurs who are also looking for opportunities to earn money online without any hassles of owning an inventory/stock or hefty investment.
1.Proper planning of the kind of products to sell:
Before you start creating your own online store on Glowroad, make sure you have a proper list of products that you would like to sell.
2. Research, research, and Research:
The foundation stone to any start-up business is plenty of research on the market. Try to find out answers to as many questions hovering in your mind if the products which you are willing to sell have enough demand in the market if people want to pay the price you have estimated for a product.
if social media platforms like WhatsApp and Facebook can enhance your business if you are up to date with the latest trends and technologies.
You can also find the best solutions in top e-commerce stores like amazon.com or ebay.com where you can go through the catalogs of varied products, their price and get a fair idea of how you should process your business strategy.
Reading the reviews of customers can also provide you with a better understanding of the demands of customers. You can also fetch more information about customer demands by joining various social media groups, blogs, and product forums.
3.Hunt down the suppliers:
After you have successfully found out your niche market, then it’s time to hunt down the trusted suppliers who are willing to work with you.
You can narrow down your list of best suppliers, have a word with them, discuss your marketing plans, and give a thumbs up to your business.
4.Set up your online store:
Now that it has taken your blood.sweat and tears to understand the entire reselling business, it is time to set up your own online store and be a boss.
Sign up on glowroad.com by creating your own account, create a post and talk about the products you want to sell,
get resellers from various cities across the country, make a deal, sell your products, and enrich your business.
Your pricing evaluation will definitely determine how much money you are going to earn.
If you are selling a product and it is costing you around 20 dollars on Alibaba and your cumulative research is suggesting you to sell the product for 32 dollars, then you can sell the product for 30 dollars and make 10 dollar gain.
6.Promotion of products:
After you have fully established your online store, you can promote your products on different social media platforms like Whatsapp, Facebook, Instagram, etc.
You can select your products and share them on Whatsapp by creating Whatsapp groups including your family members, friends, and neighbors and ask them to circle the products as well within their own bunch of acquaintances by making one or two friends of yours as admins in your group and asking them to add their friends in the group.
Facebook is also an excellent platform to grow your business and customer base. Join different groups and start sharing your collection of products.
You can also run discounts, offers, and promo codes to lure your customers. It is a good promotional strategy to put a high margin on your products and inform your customers of a discounted price if they are willing to buy your products.
7.Placing orders and delivery scheme:
After your customer places an order after making an online payment on the link that you have shared with them(your own online store), a notification message will be sent to the reselling website(glowroad.com) where you have signed up along with an SMS or an email.
You just have to sit back and relax. The service team of glowroad.com will contact the supplier and make sure if the order is successfully dispatched and delivered.
So, isn’t it a thrilling way to earn money online? If you are looking for an easy and a hassle-free way to earn money online with no stock and no investment and also if you are a homemaker and you want to run your own business online, then Reseller business is a top-notch way to slip a few hundred thousand bucks in your pocket easily.