Liquidation is a popular sourcing option for sellers who want to offer unbeatable prices and don’t mind doing a bit of leg work in order to do so.
What are Liquidations?
Liquidation is when stock is sold off below cost so that the owner can generate some fast cash. There are many reasons why companies may need to liquidate. Going out of business is one; relocating is another, as it may be more costly to move inventories than it is to sell them off at a loss. Companies may also require cash in order to carry out expansion, or undertake a project. Sometimes, it’s simply the end of the season and retailers wish to clear out old stock before bringing in the new. Whatever the reason, you will need to know why the products are being liquidated to avoid getting stuck with products that you can’t sell later on.
How to Source Liquidated Products
Here are some of the typical deals to watch out for:
• off-price products
• excess inventories
• clearance sale
• out-of-season products
• promotional items
A search on the Internet will yield loads of companies that offer liquidation products and services, but resist the temptation to immediately jump in and do business with just anyone. The last thing you want is to have a truckload of items no one wants to buy.
Some things you should consider before jumping into the liquidation business.
There are two ways to find liquidation items:
Liquidations can provide exceptional profit margins and its one of the best ways to source authentic designer items as bargain basement prices. Just don't dive in unprepared - there's a lot to learn about this sourcing method, so take it slow until you learn the ropes.
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