Stock Up On Wholesale Closeouts To Boost Your Home Business


More and more people are starting home businesses. An easy way to get started with a home business is by selling products online. This can be through your own website, an online store like Amazon or Yahoo, or on an auction site like eBay. On any of these sites, you can sell any type of merchandise. But in order to maximize your profits, you need to find a supplier to sell you items at wholesale prices. But to maximize your profits even further, always be on the lookout for wholesale closeouts.

What is a Wholesale Closeout?
A wholesale closeout is a sale intended to dispose of all remaining stock. A wholesaler will typically put items in closeout that are not selling well, or if a model has been discontinued by the manufacturer. They want to take their inventory of this item to zero, so they are willing to sell all remaining inventory at very aggressive prices. They do this to free up space in their warehouse for other merchandise or to write this inventory off their books. In any case, wholesale closeouts are an excellent deal and will help you make even more profits.

Let's look at a real world example. Let's say you have found a distributor that specializes in designer clothing and purses. They are set to receive a new line of Gucci handbags. However, they still have 500 of last season's Gucci purses on the shelves. They don't want to be stuck with old inventory and they need room to bring in the new purses. Originally, the Gucci purses sold for $500 retail. Your wholesale cost was $300. But, since the wholesale supplier needs to move the inventory out of their warehouse, they offer a closeout special of $180. This is a prime opportunity for you to pickup some designer fashions at rock bottom prices.

How to Find Wholesale Closeouts
The best way to find wholesale closeouts is to first get accounts established with some wholesale suppliers. Once you have your account setup, you can usually signup to receive closeout specials via email. Or, you can make a phone call to your sales rep or sales team and express your desire to buy some closeout specials for resale. They may be able to alert you of some upcoming closeouts that are scheduled but haven't yet been announced. Plus, once you start buying closeouts, your sales rep will keep a keen eye out for specials for you since the more you buy the more money they will make as well. Make them a part of your profit team and they will go out of their way to help you.

Another way is to search the internet for wholesale closeouts. You will find hundreds of websites vying for your dollar. The problem with this technique is that everyone else is doing the same searches so you will be competing with other buyers. And, those buyers will also become seller so you will be competing with them on price when you try to sell your items. This will affect your ability to make as much profit on the item. Your best bet is to get a personal relationship with a wholesaler, and get on the list of eager buyers of closeouts. This way you can find unique items that no one else is selling.

Moving Your Wholesale Closeouts
Most people get their wholesale closeouts and immediately put them online and try to sell them. And this method does work. However, when you have found a particularly good deal, you need to be creative in selling your merchandise. Contact friends, relatives, and neighbors and let them know that you came across a good deal. Tell them exactly what you have and how much you are selling them for. Build up your rapport with them and tell them this is a special price and please don't tell anyone. They can buy it as well as their closeout friends, but you must keep the price a secret. They will think they are getting an inside deal and will be sure to buy them!

A good example of this is that I got a shipment of a dozen 19" computer monitors on a wholesale closeout. Instead of listing them on eBay and going through all the trouble of listing the items and having to ship them out, I simply contacted all my friends and people that I knew from work. I emailed about 20 people and explained to them that I had purchased a palette of 19" Sony computer monitors and that I was selling them to the first 12 people to contact me. I also listed the retail price and the price I was selling them for. Within two hours, all the monitors were sold and I had made a several hundred dollar profit.