Here are some products we have found to have good profit margins:
Clothing: accessories, plus sizes, maternity, night wear
Beauty: sunscreen, insect repellent, cosmetic & toiletry bags, men's grooming
Vacation-related items: swimsuits, sunblock
Homewares: towels, sheets, rugs, throws, cushions, vases, mirrors
Special occasion: wedding supplies, party supplies, mother-of-the bride outfits, bridal shoes, birthday cards
Accessories for electronics
Crafts & hobby items
Computers & computer parts
Auto & motorbike
Finding a product with a high profit margin usually means finding a niche market. One of the best ways of doing this is just by selling some stuff from around the house that you no longer need any more. In the process, you will often stumble across items that sell really well that you would never have otherwise picked. Everyone makes mistakes when they start out and itâ€™s best to get some practice â€“ to find out what sells best â€“ before you start investing in inventory and selling seriously.
After some practice with goods from around the home, then you can start buying small wholesale lots of products. One idea is to sell very ordinary, everyday items, products that most people use on a daily basis. Many of these are excellent sellers, plus they are fairly easy to get hold of.
At first, sales may be slower as you get to know your market, but in the long term, youâ€™ll be able to target your market much more precisely and reduce the chance of having stock on your hands that you canâ€™t shift.
It's also a good idea to keep tabs on what is happening in the news if you want to pick up on new trends. The trick is to analyze what you hear and read for product opportunities. For example, is global warming causing water restrictions in your area? Good products to sell might include garden hose timers, low-pressure shower heads, water purifiers and so on.
If you haven't yet, check out our blog and free education area for other ideas on what to sell.