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How to Find What Products to Sell for the Best Profits:

“You can have anything you want in life, as long as you help enough other people get what they want.” -Zig Ziglar

Now that you know some great sources on “where” to find items for resale, it is important to know “what” items to buy for resale to make the most profits. Of course, the idea is to find items with a high profit margin, and also high demand. That means you will make a large markup (in dollars or percentage), and also you will sell many items (high demand). That always produces the highest profits.

How to Find What Items are in High Demand and High Markup Profits for Resale:

To find out what to buy, what items are selling well, and at what price products are selling, use these following resources: eBay® completed items search, eBay Pulse®, eBay Marketplace Research®, online market research, and by following popular trends.eBay’s® completed items search is not only free, but one of the fastest ways to check final selling prices of any item you want to check. To use this feature, simply go to
www.eBay.com. Then click on the “Advanced Search” link in the upper right portion of the site’s page. Then simply type in a keyword (for example: Nintendo Wii®), select a category (or just use all categories for a more general search), and check the “completed listings only” box. This will then display the final selling prices of all listings containing the keyword you typed within the past few days.

You will then be able to research selling prices & determine if the product is selling well, and at what price. You can then use this information to estimate the potential profits that could be made from a given item (I will give more tips on estimating profits later). This is the most frequent resource that I use to determine what products I will buy for resale, as well as which products to avoid.

eBay’s Pulse® contains a list of eBay’s® most popular listings, hot products, hot stores, and more. This is also a great resource to browse and see what it is that most people are buying and searching for on eBay. To use look at eBay’s Pulse, just click on the “Pulse” link at the bottom of the home page. You can then look to see the products people want most, and you can try to find suppliers of these items & resell the items for a profit.

eBay’s Marketplace Research® is a more advanced research tool on eBay. This feature allows you to check up to 90 days of completed listings, average sold prices, and much more. It is currently being changed over to a new service (terrapeak). This does cost from $2.99 & up at the time of this writing, however, but it can be a useful resource. To use it, just click on the “eBay market research” link on the home page.

Online research can also be helpful in finding popular products. The easiest way to do this is to simply go to a popular search engine and use the “popular searches” feature. For instance, Google® has Zeitgeist®, Yahoo® has Buzz Index®, Aol® has Hot Searches®, etc. Http://searchenginewatch.com is a website with links to different keyword sites. Again, use this tool to look at what products most people are searching for because this can help you find what to buy.

Another way to find the hot, in-demand products is to just look at popular trends. For example, heard of a new product that everyone seems to want? Check it out! It may be worth your time to try and grab up a supply for resale. Many entrepreneurs heard the buzz surrounding the release of the Playstation® 3 video game system in November 2006.

It was expected to have a high demand, but low supply. The results- they were selling online consistently for as much as $1,000-$2,000 above the normal retail price. So that means that if you were able to just get your hands on only 50 of these systems, you could have made a $50,000 profit easily within a few weeks. I was also fortunate enough to get in on the video game system demand, but I never did get my hands of a PS3. I purchased a few Nintendo Wii’s® & sold them all for a total profit of about $1,100 (not bad for about 3 hours work). In hindsight, this actually worked much better in my favor. The Nintendo Wii’s were the underdog, and not really expected to be popular, so I was able to get a few of them. The PS3′s on the other hand were thought to be EXTREMELY popular, but turned out to not be so much.

Again, the reason that these systems were selling for such a high price is because there was a huge demand, but very limited supply. Therefore, people were willing to pay well above retail price for these systems. I included the retail receipt with the item so the buyer could take it back to the store if there was a problem in the actual listings when I sold my Wii’s. This was a great selling tool to increase buyer confidence!

How to Calculate Estimated Profits on Inventory for Resale:

When deciding whether or not to purchase a particular item (or bulk of items), you should always calculate your potential profits. To do this, simply use the completed items search to find the average selling prices. This will give you an idea of the potential total revenues. Then simply deduct all of your costs such as: wholesale cost, eBay® fees, Paypal® fees, shipping fees/supplies, etc. This will then give you your estimated profit per unit. Of course, this can become time consuming if you calculate this by hand, which is why it is recommended that you set up a simple spreadsheet that can automatically calculate this for you. I use a simple Microsoft Excel or Open Office.org spreadsheets so I can quickly estimate potential profits on a given item.

You can download this Open Office program for free on our website (http://www.wildtips.com). If you do not have Excel, you can use the same basic formula and apply it to any spreadsheet program, or use the online calculator on our website. Again, if you use a spreadsheet, you can make it where it will automatically calculate your eBay fees for you. Basic formula below:

Estimated Revenues: Sales Price + Shipping and Handling Fees Added= Total Revenues

Estimated Expenses: Cost of Goods Sold + eBay Fees + Paypal Fees + Shipping and Handling/Material fees = Total Expenses

Total Estimated Revenues – Total Estimated Expenses = Total Estimated Profits

Of course, this is a very simplistic formula. It can get more complicated when you have to collect sales tax, have added expenses such as gas, labels, etc. But overall, it is accurate and can help you get an idea of the profitability of what you intend to sell.

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Chapter 1: How to Make Money Online Reselling or Retailing Wholesale Products:

“Nothing is particularly hard if you divide it into small jobs.” -Henry Ford

A great way to make money online is to buy products at low or “wholesale” prices, and then simply resell them for a profit. To do this, of course, you have to know 2 things: Where to buy items at low prices & what items will likely sell and produce a reasonable profit. So let’s start with the first part of that: Where to buy items for resale:

Where to Find Wholesale Products, and Low-Priced/Closeout Deals for Resale:

Finding Inventory at Yard/Garage Sales:

Believe it or not, some people make a full time income simply by finding deals at garage sales and then reselling the items online. Why? Because people at garage sales usually do not know that they could be getting way more for their items if they were selling them online. This method can be a lot of fun and sometimes you can find terrific bargains (after all one person’s trash is another person’s treasure)!

For instance, at one garage sale alone, I was able to make nearly $1000 in profits from items such as a Like
New Fred Perry® Jacket (bought for $5-resold for $79.99), barely used Skecher® boots (bought for $2-resold for $19.99), a video game system, a used cell phone, a used laptop computer & other items. It only took about 8 hours work total to buy the items, make the listings, & ship the items once I sold them.

To find local garage sales, browse your local newspaper for advertisements in the “garage sale” section of the classifieds, or simply drive around looking for signs. Most garage sales take place on a Friday, Saturday, or Sunday. Also, be sure to watch out for “neighborhood” garage sales or church yard sales. These are great because you browse a full neighborhood’s items within a short period of time.

When shopping a garage sale, keep an eye out for low priced name brand products & popular items (I will discuss later in more detail about how to find items that will make money). For instance, you can almost always find name brand clothing for 50 cents or $1 that can easily be resold online for $15-$50. Exercise equipment, consumer electronics (such as computers, DVD players, video game systems, etc.), sports equipment, and antiques make great items for resale. Also, the best part about a garage sale is that prices are almost always negotiable. Don’t be afraid to ask “Can you take any less for this” or “What is the least you will take for this item.” You could get a great deal & it may surprise you that many times people will even let you have it for free or a rock bottom price- just so they can “get rid” of it. Also, if you see a large selection of items, try offering a lump sum to buy it all (but make sure to negotiate a good price of course).

Finding Inventory for Resale in Classified Ads:

Checking local classified ads is another great resource for finding products for resale. There are usually several sources of local classifieds that you can check, and almost every country or location will have a classified section. For instance, you can check the local newspaper classifieds, American Classifieds, Online Newspapers, etc. These sources are usually absolutely free. You can go to the Public Library to browse old & current copies of these classifieds, or browse them online. If you are unsure of your local newspaper & classifieds’ website, you can visit http://www.newspaperlinks.com or simply use a search engine to find it.

Places like grocery stores will sometimes carry stacks of various classified & trade papers. Once you have the classifieds, search the categories containing products that you are interested in selling. Again, people often list items such as computers, mp3’s, electronics, video games, cars- you name it! There are always great deals to be found, and again, many of the prices that are listed are negotiable. Once you find some items that may be profitable, you can do your research to see whether or not you should buy it for resale. Below is a typical newspaper classified ad.

Finding Inventory and Products for Resale in Craigslist.org:

Craigslist.org is a huge online classifieds directory that allows users to buy & sell items, list real estate ads, post job openings, list personal ads, and more. It does not cost any money to buy or sell on this site. Also, aside from using craigslist.org to buy products, you may even want to consider selling some items that aren’t practical to sell on other sites.

To use craigslist.org, simply go to the website. On the home page, you will be able to select a country, state & city close to your location. Once you select the proper location, you will then be able to take advantage of the huge selection of items listed (that you will be reselling for a profit). To start browsing, click on the “for sale” section. Here, you will be able to see the different categories to choose from. Then, select a category you are interested in, and browse items listed for sale. When you find a product that has good estimated profitability, you can then contact the seller through either email or phone (the seller should have this posted in the listing). Again, there can be some incredible deals on craigslist.org and I would highly recommend that check this site to find products to resell for profit.

Buying Items for Resale for Profit at Local Auctions:

Imagine buying a $60,000 house for $10,000, a $5,000 car for $1,000, or a $700 computer for $50 and then reselling the items for a profit. Every year, millions of items like those are sold through public auctions. These auctions can range from police seized auctions, estate auctions, foreclosure sales, storage unit auctions, business liquidation auctions, and much more. The purpose of these auctions is to sell large amounts of items as quickly as possible. Because the items are usually sold at liquidated prices, this can
mean big profits for the crafty entrepreneur!

Finding your local auctions is simple. Most auction companies will advertise in local newspapers. Just check the hard copy or the online version & look under “Legal Announcements” or “Public Auctions” (or a similar title). Most estate auctions,foreclosures, business auctions, and auctions for abandoned or unpaid storage units will be found here. Also, you can look in your local phone book or telephone directory and find auction companies. You can then contact them directly to find out about upcoming auctions. Government auctions will also be listed in local classifieds, however, some locations will post these auctions on the local government’s website or again, you can contact your local courthouse or police station to inquire about upcoming auctions.

Whenever an auction is posted, try to find as much information as you can about the items that will be offered. You can then use this information to your advantage so you can research the items beforehand to find out what is profitable. If you have never been to an auction, you may want to go to a few as an observer first. Again, some items are priced ridiculously low at auctions, or they will get no bids, and you can swipe them up & resell them!

Finding Wholesale and Low Priced Merchandise on eBay:

Another great source for finding products for resale is www.eBay.com®. eBay® is a great place to not only sell items, but also to buy them! Many companies will turn to eBay® to sell liquidated items, overstocks, clearance items, and manufacturing over-runs, etc. To search eBay’s® large selection of wholesale lots, simply go to http://www.ebay.com/ and on the home page click on the “Wholesale” link. This will take you to a page where you can browse different categories of wholesale items. This can be a great source of resale products and I consistently check eBay® for popular items.

Another wacky and not-so-obvious way of finding products on eBay® is by typing misspelled werds (I mean…words) into the search engine. Most people are surprised to find that a large number of listings have completely misspelled words. For example, Nintendo is easily misspelled as Nintindo or Nentendo. Nike is sometimes misspelled as Nikey, and so forth. The point is that there is a huge number of brand name or hot product listings with misspelled words. You can usually buy these items for a great price, simply because if they are spelled incorrectly, no one else will find the listing.

The easiest way to do this is to pick out a few items that you know are selling well. Then misspell the word in a way that it could commonly be misspelled. To save time, you could use software to generate a list of common misspellings. There are even some resources online that can allow you to search for misspelled keywords. I will usually spend a few minutes every day searching the most popular items that I know have been selling well. Sometimes you can get rock bottom prices. In fact, many people claim to make a very comfortable full time living, simply by doing this one method alone! Go ahead & give it a try!

Other Wholesale Resources Where You Can Buy Inventory:

There are plenty of other websites online that offer low & wholesale prices. Below is a list of some popular sites. Some of these sites sell products directly, and some allow individual users & companies to list items. Just browse each one & familiarize yourself with it. Also, when buying items online you must always beware of fraud. On wholesale websites that sell to you directly, then you won’t have to be so concerned. But for sites (like eBay® for instance) that allow other users to sell products, you should always take the necessary precautions to protect yourself against fraud. For instance, never give out personal information. Always consider using a credit card for purchases (many credit card companies will protect you from fraud). Also, if you are ever dealing with a very large dollar amount purchase, it is a good idea to check to make sure it is a legitimate company & transaction. For a more detailed list of common scams and for tips to protect yourself from fraud, check out our website for more great free tips.

Common Online Wholesale/Low Price Sources:

• http://www.slickdeals.net
• http://www.worldwidebrands.com
• http://www.wholesale411.com
• http://www.nawca.org
• http://www.liquidation.com
• http://www.Salehoo.com
• http://www.overstock.com
• http://www.surplus.net
• http://www.ebay.com
• http://www.buylink.com
• http://www.dollardays.com
• http://www.wholesalecentral.com
• http://www.alibaba.com
• http://www.wholesalehub.com

Finding Legitimate Wholesale Companies for Inventory Resale:

Aside from the internet, there are plenty of other ways to find legitimate wholesale companies. You can browse local telephone business directories for wholesale companies, visit local retail tradeshows, or contact manufacturers directly to find a list of wholesalers. In fact, many wholesale companies will print contact information such as an address, website or telephone number on the package of the particular item you are interested in selling. Simply pick up the phone & call a company and ask for a catalog of
wholesale merchandise. Some manufacturers will deal with you directly and some will refer you to the wholesale companies they use.

If you decide to deal with wholesale companies directly, however, many will require that you provide a “business resale number.” This is simply a number that you will be given if you start a “resale or retail” type of business. This lets other companies know that you are running a legitimate company yourself. Of course, if you do not have your own business, you can still buy from most online sources and use all of the other techniques of making money described in this e-Book. However, you may want to soon consider starting a business (and you may even be required to get a business license in most locations) once you start making money consistently. Though it may seem complex, starting a business is actually not as hard as most people seem to think, and it can actually benefit you by giving you access to even more suppliers and opportunities.

I really enjoy reselling products online. Also, it gets easier if you buy in bulk because you can create one auction listing or web page & then re-use that same listing over and over again. So basically, you can buy a bulk of products, create one listing, and simply ship the items when you make a sale.

How to Make Money Online-Intro

How to Make Money Online-Page 2

How to Make Money Online-Page 3

How to Make Money Online-Page 4

How to Make Money Online-Page 5

Sponsored Links

Posted under Make Money, Making Money, eBay, eBooks