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FIVE THINGS I'VE LEARNT AS AN ONLINE SELLER
[THREAD]
Some tips to help you sell items for a profit
[THREAD]
Some tips to help you sell items for a profit
DON'T JUST FOCUS ON SELLING ONLINE
I resell some products I get from wholesalers to local shops - profit margins are smaller but it's still a profit
I print t-shirts, mugs, etc. and advertise in local shops. Free promotion. The shop earns a commission on each sale.
Win win.
I resell some products I get from wholesalers to local shops - profit margins are smaller but it's still a profit
I print t-shirts, mugs, etc. and advertise in local shops. Free promotion. The shop earns a commission on each sale.
Win win.
List your items on Facebook marketplace
You'll attract local customers which means no need to pay for postage
You can offer cheaper prices = greater chance of getting the sale
You'll attract local customers which means no need to pay for postage
You can offer cheaper prices = greater chance of getting the sale
IF YOU DON'T ASK, YOU DON'T GET
Speak to your suppliers to negotiate cheaper prices
I used to get a product for £14 (RRP £30)
I was spending £1k/month with the supplier and used that to negotiate a price reduction to £12 per unit
Speak to your suppliers to negotiate cheaper prices
I used to get a product for £14 (RRP £30)
I was spending £1k/month with the supplier and used that to negotiate a price reduction to £12 per unit
DROPSHIPPING
You may not need to stock every single product you wish to sell
Many suppliers are moving to a dropshipping model where they ship the product directly to your customer when you make a sale
Even if your supplier doesn't list this as a service, ask them if they can!
You may not need to stock every single product you wish to sell
Many suppliers are moving to a dropshipping model where they ship the product directly to your customer when you make a sale
Even if your supplier doesn't list this as a service, ask them if they can!
CONVENIENCE
People are lazy, use this to your advantage
Offer fast shipping
On local sales, I deliver most of my items as customers are happy to pay a premium for the service
If reselling, don't feel bad for making a profit - customers only agree to buy if they want it!
People are lazy, use this to your advantage
Offer fast shipping
On local sales, I deliver most of my items as customers are happy to pay a premium for the service
If reselling, don't feel bad for making a profit - customers only agree to buy if they want it!
RESERVE POT
Always keep some money aside to deal with refunds, breakages during delivery, etc.
When selling on platforms like eBay, the buyer is massively protected and the seller often takes the hit
Ensure you have funds available in these situations
Always keep some money aside to deal with refunds, breakages during delivery, etc.
When selling on platforms like eBay, the buyer is massively protected and the seller often takes the hit
Ensure you have funds available in these situations
If you've got this far, thank you!
This was my first thread so if it was useful, please RT the top tweet and share with people on your timeline
Anyone interested in a thread on getting set up to sell on Etsy?
This was my first thread so if it was useful, please RT the top tweet and share with people on your timeline
Anyone interested in a thread on getting set up to sell on Etsy?
