This lockdown may have slowed things down for everyone but it has only boosted the e-commerce industry. Almost everything is available online. So it is safe to say that a lot of us have taken the words ‘Stay home, stay safe’ pretty seriously. However, this pandemic has brought about a lot of changes to the economy. People have lost jobs, experienced salary cuts and some are leading a hand to mouth existence. This has brought about an increase in the number of people looking for work from home opportunities. One of the most sought after options among these has been that of online reselling. Like you, many others also have the same question and that is “How to start a reselling business?”. Well, let us understand the basics.
If reports are anything to go by then we are likely to see the e-commerce industry growing as much as 7 trillion in the next 3 years. This means that more and more companies are planning to switch to a digital experience as opposed to a physical office made available to employees. The market is already witnessing a rise in the number of reselling apps in India. Most of these apps require zero or low investment from your end and offer their products to you to resell. You just need to pick a niche and figure out what you want to resell, where and how you want to do it.
How to start a reselling business online?
Buying products at a low price and selling them at a profit, is a business model that has improvised over time. Earlier it was more like buying from different countries and selling them to a market that demands it. But now, even resellers are trying to manage their businesses from within their country and more so, within their homes.
Online reselling business can be done in 2 ways:
- In the first option, you can source your products from a manufacturer or wholesaler and resell it to your customers at a profit. You can either establish a website or resell products from home, that choice is yours. But this will also require you to maintain an inventory, manage your payments and orders and so on.
- This is a more feasible option for those of you who have dreamt of being an entrepreneur. Here, you sign up with an online reselling app and choose their products to resell to customers on their customer base. From your inventory to orders, from shipping to delivery, the app takes care of it all.
There are many advantages to running a business online and it definitely is a more cost effective option as compared to an offline business. We would like to list down some of them and may be that will help you decide whether or not to go for this.
Tips to start an online reselling business and running it successfully
5 advantages of starting a reselling business online
The online reselling business can be a good option to earn extra income from home. Especially if you sign up with an online reselling app, your job is actually easier. There are many apps out there but we would like to throw some light on Shop101 because of the ease of access it has and the features that it offers. You can also download the app from your PlayStore.
Unlike an offline business, the online reselling business requires zero or low investments from your end. This also depends on the app you choose to sign up with. For instance if you choose Shop101, they are not just a zero investment app but also one which functions with full transparency. Theirs is a risk free business model where a reseller just needs to invest their time and have a smart phone available to run the business.
Since you can pick the products directly from their catalog, you don’t have to doubt or worry about their quality. Also, you don’t have to stress about manufacturing of those products and availability as the stock of the products you see will be made available.
Shipping and delivery
Shop101 also caters to the shipping and delivery to the customers. Dash101, which is a Shop101 product, deals exclusively with logistics and manages the entire shipment without a hassle. This isn’t only limited to resellers. So, if you’re looking to send consignments from one place to another and if it comes under the 27,000+ pin codes, they charge an affordable price. Also, when you’re a reseller, it is the manufacturer who sends the shipment to the customers. In most cases, that’s how it works. But since there is already an integration of about 8 courier partners, Dash101 will ensure that your products reach the customer. This is helpful especially if you’re figuring out how to start a reselling business online.
Sell trending products
Since you get access to the product catalog, you will get an idea about the hot selling products. You can also sell products that are outside your niche. Pick the products that are trending, that customers have left good reviews for and ones that are in demand. Everything is available on the catalog and all you need to do is add it to your Shop101 online store. After adding, you will also need to share the products so that your store gets recognised and more customers will come to you to buy.
Sell unlimited products
You don’t have to stick to your niche. Since there is a catalog to choose from and hundreds of options available in there, sell the products that you think will work. There is no limit to how much you can sell so pick products that you feel your target audience needs. A good idea would also be to run a simple poll on any of your social media business pages to see what customers are looking to buy. This will give you a general idea of what to add to your online store and how that will pick up sales.
Healthy work-life balance
Since you can work at any time and anywhere, it isn’t a stressful job. You can very well balance other duties while making sure that your sales, shipping and orders are all happening simultaneously. Mostly, stay-at-home moms, new moms, college students, budding entrepreneurs find the online reselling job the ideal option to earn extra income. This gives them enough time to focus on other tasks in hand.
We hope that you’ve found some clarity on how to start a reselling business online. You can always drop us a question in case of any doubts regarding online reselling. We will be happy to answer them but meanwhile check out this article that talks about online reselling business ideas that you can try out.
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