A reselling business is one of the easiest to start. In fact, lots of people running full-time businesses reselling items started almost by accident by selling off some of their own unwanted items.
Online auction sites make it really easy to get going. Before you know it you’re in business for real, and struggling to maintain stock levels without turning your home into a warehouse.
Christmas (dare we say it?) is fast approaching. It’s the ideal time to maximise your reselling profits, and a little upgrading for stock and processes will work wonders to streamline your efforts.
Rethink Stock Storage
Before you can sell more, you need to hold more in stock. But where to keep it? There are short term solutions, such as taking over a room in the house, clearing more space in the garage or shed, or asking friends to keep some boxes for you.
A better solution would be to think longer term, using the Christmas rush as a way of reaching out and engaging with new customers so they come back in the New Year.
There are a couple of different storage options:
- Rent warehouse space. Depending on what you sell and how much stock you turn around, this might solve your problem. It is, however, probably too ambitious for modest resellers. Not only do you have acres of space to fill, you also have extra expenses to factor in such as VAT, business rates and utility bills.
- Rent some self storage space. Self storage units come in all sizes, so you’re not paying for space you’re not using. You can also upsize or move to a smaller unit as business needs fluctuate. This gives you incredible flexibility when it comes to taking advantage of overstock offers or flash sales as you know you can store everything quickly and easily.
Streamline Your Working Methods
As well as storage, selling more stock also involves more handling and admin time. If you’re running a business around other commitments such as raising kids and running a home, you probably don’t have a few extra hours to throw at a business venture.
The answer is to work smarter, rather than harder. It may have become something of a cliché in recent years, but it’s a principle that holds true. One way of working smarter in a reselling business is to combine processes so you’re not going back over the same ground all the time.
Organise your packing and customer lists before you start, so you know which items to pick and where they’re going. This might involve setting up apps on mobile devices so you can work away from home, or just making room for a laptop on the desk.
Choose a method that suits your personal situation, one that lets you double check addresses and orders, and that works with available Internet connections. You might need to download information for offline working, or maybe increase your data allowance if you’re away from your home Wifi.
Wherever you keep stock, create a pack and dispatch station in the same area. You can do this from a self storage facility as easily as from a spare room at home. You just need a corner with a desk or table to pack up items ready for posting, and some storage for boxes, envelopes and tape. Having everything you need in one place saves heaps of time you’d otherwise spend running back and forth.
There is always too much to think about and plan in the run-up to Christmas, but it’s such a shame to leave money on the table from what could be your most profitable business season. Plan your business Christmas early, set up some streamlining systems, and enjoy the extra profits without wearing yourself out in the process or impacting quality family time.