I decided to include this one because it is reasonably new way to generate side income and its not hard at all with a few caveats.
The focus of the entire website, if you don’t know by now, is to get back with nature and leave the drudgery of a typical 9 to 5 to the wayside. This doesn’t mean that you have to quit a job you like right now by any means. However, the overall goal of what we are trying to help people with is providing a clear avenue to take to gain some sort of freedom.
A common question is ” How do I produce income if I am not going to a traditional job?”
Once again, you don’t have to leave a traditional job if you wish. You can integrate many of the things we talk about into your life without going “all the way” with it. We just believe that this should be the overall goal in the end.
What are Liquidation Pallets?
Liquidation pallets are unsold inventory from a multitude of different retailers that either go unsold or are returns of some sort. To quickly liquidate these items, they are usually sold in auction format and most of the time sell for steep discounts. You can then take these items and sell them yourselves on all types of different media outlets. You can also sell them on craigslist locally or at a flea market, however you wish. the goal here is to double your money. If you spend 500, you will want to sell everything for 1,000. You are not trying to get rich off each pallet, but what you can do is sell it for more than you have into it and take that money and buy another that may be a little more expensive. You can keep doing this until you have made the money you need for the month or year.
It all sounds very easy and in a lot of ways it is. However, there are some things you need to be aware of.
Not all lots of liquidation pallets are the same.
When you seek to buy a liquidation pallet, you must pay attention to a few things:
Shipping on pallets
You want to look for pallets you can go pick up ideally. shipping on large pallets can get very expensive and that will eat into any profits you may have off the items. Look for auctions were you can set up shipping
A lot of these are Return items
Just because items are returns doesn’t mean they are bad. People return items for all types of reasons. This is a good thing to think about because, you can assume that a certain percentage of the stuff may be broke. You can always pay to fix these items if you think the repair cost wont completely negate any profit you can make. I would always leave broken items to sell last.
Sell items at risk of being outdated soon first
You want to sell any item which may be outdated next year. You don’t know how long it may take to move an item. You may need to price these items below retail cost, sometimes well below to move them. A little profit is always better than zero profit. As much as you need to focus on broken items first, you will divide your selling efforts on unbroken, at -risk items first and move your way back. Most will list everything unbroken first anyway so just use typical logic when it comes to this.
This income stream is only meant to be a side source of income. Selling liquidation items can take a while and you may not be able to put too much time into it at first. Take it slow and research your market and find the best places to list your items. You dont have to run to amazon and get screwed by fees selling stuff. You can list an item in a few places and whatever sells first, start using more of that medium. Just make sure not to upset many people if your items sells at the same time in multiple locations.
The place I would start first to get your feet wet would be
You can start off small with a smaller pallet that not many people are bidding on. just make sure to check out the manifest and take around 20% off of the MSRP for broken items. try also to stay within around 50% of the remaining MSRP on your bids because you want to leave enough room for enough profit. you are looking to make around 15-20% overall which isn’t a bad return on your money.
You can do this now or when you go off grid / semi- off grid. This strategy will work as long as you have online access because listing and selling items will be much easier. You can do this without internet, it will just take a little longer to find the right buyers.