Posts Tagged ‘Liquidation.com’
Liquidation in the news again!
Thursday, January 31st, 2008
Liquidation.com was featured in a story about how buyers can purchase discounted goods following the holiday returns season. The story aired on Indiana’s Fox59 News in Indianapolis and Liquidation.com’s Brian Johnson from the Plainfield warehouse was interviewed. To watch the clip (it’s only a few minutes) click below:
For more information about buying holiday returns check out Catch the Post-Holiday Wave: Sourcing Wholesale Store Returns
Tags: Announcements, Fox News, Liquidation.com, liquidations, Product Sourcing, source, wholesale store returns
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Buying and Selling Liquidation Products - Must-know information that the liquidation companies won’t tell you!
Wednesday, January 16th, 2008
Think liquidations might be right for you or your business, but you’re not exactly sure what they are? Well, liquidations are simply products that a company doesn’t want anymore. Maybe they couldn’t sell them or they’re damaged or missing parts - but they’ve been taking up space in the warehouse and collecting dust, so they need to go. In fact, many companies are so desperate to get rid of some products that they’ll sell them for mere pennies on the dollar. Does that mean that buying liquidated products means you’re getting a great deal? Sometimes, but not necessarily.
What to know about buying liquidated products
The first thing to remember is that liquidations are products that someone else couldn’t sell. Of course, that doesn’t mean you can’t sell them - it just might not be as easy as you think. Also, liquidations typically are divided into categories (and a good liquidator will tell buyers the condition of their liquidations). Don’t just assume all liquidations are new and in the box - because many times that is not the case. Here is a typical list of liquidated products by type:
New - This is the best type of liquidated products to get. They’re new, in the box, and have never been sold before. It doesn’t mean they’re brand new - these products could have been sitting in the warehouse for 5 years, you just don’t know. For products with an expiration date, it’s best to ask what the expiration date is on the products or to avoid them all together.
Used / Returned - These products have been sold, used and then returned. They may or may not be opened or have boxes. Some may have missing parts, manuals, etc. Some may be defective. You won’t really know how many you are able to sell until you get the shipment and are able to go through them, one by one.
Refurbished - These products were used by someone and broke, and were then rebuilt to work again. Refurbished products may or may not be in original packaging, or come with original accessories. It’s also possible that they show signs of use.
Shelf pulls - These are products that were for sale in retail stores but never sold. They may have multiple price tags on them; they may be used, damaged or missing original packaging and materials if they were display models.
Salvage - Basically these products are just a pile of junk and are good only for parts.
Now that you know that liquidations come in all forms, you’ll be better prepared to ask questions about the condition of any products you’re interested in.
What to know about selling liquidations
Most liquidators are interested in buying products by either the pallet or the truckload. So, if you only have a few boxes worth of goods, you might want to consider selling them as a lot on eBay instead.
After you’ve determined that you have enough products to sell to a liquidator, you should determine what category (or categories) your products fall into. Obviously, the better condition your products are in, the higher the price you’ll get from a liquidator.
With liquidating products, the goal is to get rid of your products, not make a profit. Sure, you’ll make some money, but it’s doubtful you’ll get back what you paid in the first place. But, getting rid of the dust collectors means you’re not paying storage fees on non-moving products - and now you can bring in some new inventory!
Finding a liquidator online is easy. You can begin with a site like Liquidition.com , or you can search online for liquidators. Just be sure to research any company you plan to do business with.
Tags: Carrie Hinkel, liquidation, Liquidation.com, Product Sourcing, source, sourcing liquidations, sourcing products, tips
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Liquidation on Fox! (and in other news…)
Monday, January 14th, 2008
Last week, Fox 11 News in Los Angeles interviewed our CEO, Bill Angrick, from Fullerton for a great feature on holiday returns. The segment has since been picked up by other Fox stations and aired throughout the U.S. including in Atlanta, Minneapolis, Cleveland, San Diego, Philadelphia, Tampa, Phoenix and some of you may have caught it on our local Fox station in D.C. You can view the segment online here:
http://www.fox6.com/mediacenter/local.aspx?videoId=403404@video.fox6.com&navCatId=5 (be patient as there is a long ad you have to watch before our segment).
In addition, the Orange County Register featured LSI in its Saturday edition Money Section, generating great local exposure for Liquidation.com and the STR facility in Fullerton. The online version of the article can be seen here: http://www.ocregister.com/news/services-liquidity-merchandise-1957504-warehouse-buyers
Tags: Announcements, Liquidation.com, liquidations, LSI, news, overstock, wholesale industry
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Liquidity Services Inc. in the Washington Post!
Wednesday, January 2nd, 2008
Liquidity Services Inc. is goWholesale’s parent company and last Saturday the Washington Post printed an article on the front page of the business section that features LSI as the top solution for major retailers to unload excess inventory and consumer returns following the holiday season.
Click here to read "New Life for Unwanted Gifts"
Tags: Announcements, consumer returns, excess inventory, goWholesale, Liquidation.com, liquidations, Liquidity Services Inc., LSI, Washington Post
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How To Start Selling at Flea Markets
Monday, October 1st, 2007
Flea markets give sellers an unlimited income potential, while not limiting them to one product or sector of sales. Where else can you find a gallon bag of baseball cards for a dollar, an antique clock for three dollars, and all the stuffed animals you could want thrown in for good measure? Flea market sales have found a niche, and you can have a piece of the pie. Unlike other retail sales businesses, working a flea market doesn’t involve a large startup cost. In fact, crafters and others who can make their own products can begin right away.
There is no “flea-market template” that can guarantee success, but if you follow the steps below for starting a business selling at flea markets, your road to profit will be less bumpy; remember, though, that the time you put into this venture is going to directly relate to how much you will make.
Step One: Find a place to sell
This will involve making some phone calls and looking in the local paper. Most flea markets advertise in the community classifieds; but you can even look online for flea market directories (like FleaMarketListings.com ). Call around for the best rates, and visit the flea markets before you decide to rent a booth. Check out the other merchandise offered at the flea markets you visit to see if your product line would sell. If one flea market is over-saturated with your product or its direct competition, try another.
Consider all of the angles. An indoor flea market is ideal if your merchandise is easily damaged, since the elements can take their toll quickly. Ask if the flea market can be locked up after hours, or if it has storage facilities for vendor use. Once you’ve found that perfect flea market, try to find the best booth possible. If there are tables open that are in the middle of the building, pick one of those, since they historically see more traffic. Pay for a year up front and you’ll have a better chance of getting one of the good spots, although trying to move into an established flea market might require some waiting as seniority dictates.
Step Two: Obtain the proper selling license(s)
What kind of license you’ll need depends on where you are located. Some states require you to get an occupational license, while others permit sales with a reseller’s license. Still others don’t require a license at all for flea markets. The best thing to do is check with your state’s Small Business Administration office.
Step Three: Build your inventory
To create inventory, visit yard sales, auctions, estate sales and other public sales that you can fit into your schedule. Try to be one of the last folks to visit a yard sale and volunteer to purchase the remainder of their sales items for a small discount. Many people will simply give you their leftovers, just to save the hassle of having to move everything. Don’t forget to see if friends and family have anything to donate.
If you want to add homemade products to your inventory, you can display your own creations or put a classified in the local paper for crafters. You can also purchase new merchandise to display through wholesale websites, but don’t buy until you have checked on the viability and legitimacy of a wholesale business. Bulletin boards and forums often have posts from people willing to give stuff away or sell it for next to nothing. Finally, websites like Liquidation.com and Overstock.com specialize in selling surplus and bulk products.
Step Four: Attract attention
So, you have a good booth, good merchandise, and a great attitude. Now it’s time to attract the customers you deserve. Clean your merchandise, polish or paint it if need be, or fix small problems. If your products are already in good shape, arrange them in an attractive manner.
Put yourself in your customer’s shoes. If you sell food, offer a variety of packaging options, including individual servings and family sizes. If you really want to attract people to your booth, and the flea market doesn’t have a policy against vendors selling edible items, offer free food or samples of your food products. This is guaranteed to bring hungry shoppers to your booth.
If you sell electronics, try to provide an outlet that shoppers can use to test electrical items. Customers will appreciate the gesture, and you just might make a sale that you wouldn’t otherwise have made. Finally, don’t cram two tables worth of merchandise onto one table. Although some shoppers like to rummage through unmarked boxes of merchandise, most are trying to find particular items. If you keep neat, organized rows of tables and clearly priced items, people can see if there’s a reason to linger at your booth. Hopefully, they’ll at least stay for a cookie or some warm conversation.
Tags: building inventory, flea markets, fleamarketlistings.com, jennifer ratliff, Liquidation.com, overstock.com, small business, Starting a Business
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