One part of the American dream is owning your own business. The Internet has made it possible for more of us to realize that dream, and online sales mean you don’t have to have a brick-and-mortar store anymore. With some knowledge, determination, and an Internet connection, you can start your own retail business — and using liquidation pallets can help you make a success of it.
What are liquidation pallets?
Big online sellers like Amazon and Walmart deal in millions of transactions every day. Amazon alone sells around 600 items every second. One of the big selling points of these major retailers is their fairly liberal returns policies. Although Amazon has recently been tightening their policies, it’s still easy for most people to return an item for any legitimate reason.
Another way that these large online retailers end up with more than they can actually sell is because they have too much stock. Overstocked items have never been used at all — they just aren’t selling on that particular platform fast enough — and the retailer would like to make room for something else.
What happens to all those returns and overstocked items? They get bundled up into large pallets. These pallets go to wholesale liquidation sites where they are grouped by type and then sold at a heavy discount.
Are liquidation pallet items just broken junk?
When you hear “returns,” your first thought might be that all the goods are damaged or malfunctioning in some way. Such items do get put on liquidation pallets, but the pallet seller will clearly point out their condition before selling them. There are no surprises when you get a pallet. Most of the items are not damaged or malfunctioning: they’re returned for other reasons.
Sometimes buyer’s remorse kicks in, and a buyer changes their mind. Sometimes clothes or shoes just don’t fit. Often an item isn’t quite the color the original buyer was dreaming of when they hit the “buy now” button. People return goods for all kinds of reasons — often in perfect condition — and many of the items end up on these liquidation pallets.
How to start your business using liquidation pallets
A lot goes into starting a retail business. You need some capital to start out with, enough help to make things happen, and some education doesn’t hurt. There are plenty of business classes you can take online even while you work, and an online learning self-assessment can help you decide if online classes are for you.
But whatever else goes into your retail startup, one thing is certain: you need goods to sell. That’s where liquidation pallets come in.
Take advantage of bulk discounts
One golden rule of business is that greater volume equals bigger discounts. When you buy goods by the pallet, you get the biggest possible discount. You can then pass those savings on to your customers to undercut the competition or price the goods at retail value and use the profit to grow your company.
It becomes easy to diversify
The more types of items you sell, the wider the range of customers you’ll be able to attract. An advantage of liquidation pallets is that each one contains a variety of goods of a generally similar type. This makes it easier for you to offer a wide range of goods that your customers will love.
You have some peace of mind about what you’re getting
When you buy liquidation pallets from a reputable wholesale seller, you get clear information about the condition of everything before you buy. You even get warranties with certain items unless they’re marked “as is,” and you can file return claims if anything isn’t just as advertised. This gives you and your fledgling business an important layer of protection.
Liquidation pallets are a great resource for any business. Not only can you get items at a heavily-discounted rate, but they’re also guaranteed to be in great working quality.