Selling online is fast becoming one of the most popular ways to earn money, especially during the pandemic when most businesses have closed their doors and employees have lost their jobs. If you’re looking to explore this new money-making venture but don’t know where to start, here are the basic steps towards success.
Determine what you are going to sell
First things first, you have to consider these three factors before you jumpstart your buy-and-sell business:
- What to sell (What need/want of the customers your shop will fulfill)
- Where you will source your items
- How you will make a profit (pricing, etc.)
You have to zero in on what item or category you want to sell to potential customers.
We recommend that you choose the area that you’re most knowledgeable about so that you’ll always know what your customers will be looking for.
If you’re in tune with beauty and skincare trends, then you’ll have the natural instinct for the latest and hottest products customers will go for. The same when you have an affinity for gadgets as you will know what other gadget-lovers are on the lookout for.
Now, when it comes to the third factor (how you will make a profit), it depends largely on the second one (where you will source your items). With plenty of competition out there, one of the smartest things that you can do is to find the cheapest source for your products so you can resell them at competitive prices to attract customers to choose your business.
Many buy-and-sell business owners are actually enjoying the benefits of reselling US items that they bought from US online stores and reselling them to their local customers. These online businessmen (and women!) are actually buying US products straight from American websites and shipping their packages back to their home country, where they are reselling them to local customers.
There are so many reasons why should also look to US online stores to source your items.
Why source from the US?
US products have always been popular among shoppers worldwide because of their quality and popularity. There is always someone looking to cop the hottest sneaker releases from Nike and Adidas or the latest iPhone model, so you’ve easily got a large market in the palm of your hands.
The advantage of sourcing your inventory straight from the US all boils down to a few key points:
You can price your items competitively.
Buying the items you will sell straight from their online store or factory in the US guarantees that you’ll be getting the cheapest possible rates when you buy them, ensuring a higher profit upon reselling.
Many customers will also gravitate to stores with the best deals and if you’re offering that, it means you have a unique selling point that sets you apart from your competitors.
You will have the edge of selling rare, exclusive, and authentic items.
There is a huge market online for shoppers looking to buy US products that are unavailable anywhere locally. Many are also looking for cheaper options for items that are available locally but are being re-sold at high margins.
With the US as the largest online marketplace in the world at your disposal, you can choose from millions of products for your store roster. Not to mention, you’ll have the edge of product authenticity since you are buying and re-selling directly from the brand source.
What about international shipping costs?
While you can use the shipping service of the US merchant you are buying from to ship your packages from the US to your country.
But that can be very expensive, especially if you are sourcing your products from more than one US online store. Typically, they do not allow consolidation of packages and that extra cost may just boost your prices for the items you will be selling.
But do not worry because comGateway can help you with your online buy-and-sell business by providing you with cost-effective ways in shipping your US products internationally.
Here are some of the benefits and services we offer to help you save big on your international shipping needs:
Sales-tax-free US address –Since you’re shopping directly from US online stores, it would be helpful if you had a US address that can save you from paying sales tax on your purchases. comGateway gives you just that when you sign up for a free account.
Consolidation –You can consolidate packages you received from different merchants into one shipment rather than shipping them one by one. You can store your purchases at our warehouse for up to 30 days free while waiting for the rest of your packages to arrive.
Repack – We want to make sure that you’re paying a fair amount for your shipping fee, so if you ordered tiny makeup products that arrived in too big a box, we can have the box resized or scaled down to just the right size.
OneBox– This allows us to combine your purchases from multiple merchants into one box or container to save on shipping weight, and, ultimately, shipping cost.
BuyForMe – You may encounter some US merchants that don’t accept non-US-billed credit cards. And if you really want to buy and resell items from that exclusive store, our BuyForMe service can purchase your desired stocks on your behalf for a minimal fee.
Now that you’ve got the basics down pat, here are the simplified steps to help you start your buy-and-sell online business for US products.
How to Start Your Buy-and-Sell Business Selling US Products
- Start browsing and shopping for the products from your chosen stores.
- Use your comGateway US address at checkout and wait for your orders to arrive.
- Consolidate, repack, or combine your packages into OneBox at your US address.
- Ship your US products to your location.
- Re-sell your products on your platform and start earning!
And there you have it! You are now ready to start your buy-and-sell business with US products. Sign up with comGateway for free and start shopping for your products from US online stores! We’ll take care of your international shipping needs for you.