Once you have attracted buyers with your great title for your listing, you need to let them know all about the item through a description. The question is; what exactly do you need to write?
Keep in mind that the item description should work like an advertisement. The aim is to write a sale copy without it being too obvious of being one. You need to try to excite your buyers and this is quite hard to accomplish. However, on eBay, if you are selling the perfect product with enough details, buyers can even excite themselves.
Add each technical detail that you possibly know. This includes the product’s manufacturer and condition, its size and history, when and where it was actually made, as well as anything that could be special about this product. It is important not to be boring, though; great descriptions come in a language that is conversational and friendly, but also shows true knowledge on the product. No matter what, always speak the truth!
Keep in mind that the majority of people who will be purchasing your product will have as much knowledge on the product as you since this happens to be their hobby. Do not feel the need to point out every basic details of the product; just focus on technical details. Try not to type anything into the description without knowing its meaning since someone is sure to know what it means and if you get something remotely wrong, they might lose their trust in you.
You may also come to find how enjoyable it is to type some thing on the origin of the product, why you are putting it up for sale, ad who might love it. Although this isn’t a necessity, it does give auctions character and more people will like you. Some people might ponder on why 100 CDs are being sold at once. With the reason present, they will know that it isn’t anything dodgy.
Do not leave anything out when it comes to the description, no matter how long it may seem. On eBay, there’s no such thing as being too thorough. Somewhere, someone will appreciate how you took so much time writing additional information. Never assume that everybody who needs additional information will contact you to ask questions. A lot of buyers happen to be shy and therefore don’t do it. If people happen to ask questions which are already answered inside your description, put such parts alone in a line, or put the font in bold, so they pop out and take more notice.
If you are an eBay seller, store owner, flea market vendor or even an exporter, yous should be on the look out for new sources for inventory. I am certain that you spend countless hours searching the net looking for new suppliers to buy from.
Have you tried wholesale trade magazines or better know as trade publications? I subscribe to several full color magazines which are mailed to my office once a month, free of charge.
Most of the magazines not only offer tons of new wholesale sources, but also current marketing and retail advice. One magazine in particular, WebWholesaler, is by far the best trade publication out there. Each issue is packed with a variety of wholesale sources for clothing, accessories, jewelry, general merchandise, tools, electronics and more!
I would personally recommend you sign up for a FREE subscription to WebWholesaler. There is no obligation what so ever. Fill out a simple form and you should receive the next issue hot off the press!
Video profile of Kole Imports, direct importer and wholesaler of dollar store merchandise
Over the last ten years I have purchased hundreds of customer returned pallets and at least 60-70 truckloads of wholesale liquidation merchandise. It all started was back when my wife and I started a small business at home selling on eBay. Selling from our kitchen table we were able to turn a part time income into a large successful retail business!
The first small loads of wholesale merchandise we purchased were 100-300 piece Shelf pull apparel lots. Often known or referred to as New With Tags. I have to admit that clothing was not my first choice, but my wife had a passion for clothing and this is where we started.
Our first purchase was a 110 piece lot of Macy’s womens apparel and we bought it from a liquidator here in California. Being new at that time we really did not know what to expect. We paid for the lot and it was to be shipped by UPS. A few days later my wife called me at work to advise the shipment had arrived. She was excited to say the least.
By the time I got home that night she had already sorted all the apparel looking for damages and even photographed a few of the items to prepare for eBay listing. Within two to three days she had all of the clothing listed on eBay and low and behold we were off on a great adventure from there.
I think if I recall we ended up selling 42 of the 100 pieces on the first go round of auctions and then re-listed the remaining. After about a week and a half we had enough money in our Paypal account to re-purchase another load of clothing. This time we purchased fro ma different liquidator and must say that when this apparel arrived we were not very happy as roughly 20-25% of the load was damaged.
I placed a call to the company we bought from and no one would return my call. Message after message was left, but it seemed as though this particular company did not care to make us a repeat customer. After days of researching the company we bought from and researching shelf pull apparel in general I came to the conclusion that each and every load would probably be different. Kind of a “craps” shoot, if you will.
Back in that first year of getting our feet wet we ended up trying 4-5 different sources for shelf pull apparel and found two reliable suppliers that consistently provided excellent service and loads which were reasonably priced.
How did you get started buying and selling shelf pull apparel?
What the heck is Shelf Pull merchandise? Just as it sounds, shelf pulls are retail products that have been on display in a retail store and then subsequently “Pulled” from the shelf for various reasons. Big Box retailers will pull items from the sales floor for several reasons, including:
- End of season model/style
- Initially purchased too much of an item and therefor have excess unsold stock
- Product no longer being manufactured or distributed
- Product being recalled due to a safety hazard
Most of the time, retailers simply pull items from their retail sales floor to bring in newer items. Think about it, most stores rotate stock to keep their inventory looking fresh and new. Due to this reason, there is an abundance of merchandise which can be purchased on a wholesale level and resold for a great profit. There is no better way to “tap” into major name brands on a wholesale level. The great thing about buying shelf pulled merchandise is simply cost. often, shelf pull merchandise can be purchased for “pennies” on the original wholesale dollar!
Are you looking for name brand merchandise to resell on eBay or through your ecommerce store? Shelf pull merchandise can also be sold through your store front and exported throughout the world!
Ok, I have convinced you…I can tell. Where do you find Shelf Pull merchandise?
Shelf pull merchandise can be purchased through Wholesale Liquidators or buying directly from each department store. Some department stores have their own liquidation department where they sell pallets and truckloads of shelf pull and customer returned merchandise. Most big box retailers will contract a ‘Third Party” liquidation company to move excess or unwanted merchandise. In this case, dealing with this third party is considered buying direct.
Running a home based business can be such a great thing, but there are too many people who have this misconception that it is all candy and roses without any real pitfalls. The truth is that there are pitfalls and those pitfalls can make or break you if you’re not aware of what they are and how to stop them when they occur.
So here are some pitfalls that you may run into and the ways in which you can avoid them:
- Many individuals working at home find that the world believes they have it made. This means friends and family may not respect work time. It seems as if all of a sudden the world demands your attention even more because you work at home. So lay down the law to begin with. Tell them who the boss is (because you are) and explain that you cannot make a living if they don’t respect the times you have set aside.
- Battling distractions is like literally fighting a war. Actually, it is a war within yourself. This means not putting a stereo system or a TV in your office. You might think you have enough time to watch that movie and get your work done, but you might be quite surprised that these little things can really eat into your day. The next thing you know, you’ve been sitting in your office for 12 hours, feeling like you’ve accomplished very little.
- When you are working, it can be hard to know when to stop. Many individuals keep going and going so that they can get their work done. But what this does is take away that family time, causes you to become overworked, and may even make you lose your mind a little.
Don’t get too confident about what you are doing. Being self-employed means a lot of uncertainty. Don’t think you have the perfect business formula that is going to keep the revenue coming in consistently. You must strive to keep growing your business so that you can keep that income coming in. Some months are more profitable than others, so be careful with your money.
So take these things into consideration so that you don’t tank your business as soon as you get it started. Make sure you evaluate all the distractions a home business faces and proceed with caution, after all, you livelihood depends on it!
When you start a business, it is very important that you set up the proper legal structure for what you are doing. If you don’t, then you might find yourself sailing in the wrong boat. When you are sailing in the wrong boat, it is somewhat of a challenge to make your way to the right one.
So let us look at the different types of business legal structures that exist and what they are:
- Sole proprietorship – This is the simplest and most common of all of the legal structures. This is because this is a business that is owned by a single person and that person has unlimited liability. A person who provides services to another is a sole proprietor unless they decide to set it up as something else. So if you’re a contract sign dancer for restaurants and retail stores, you’re a sole proprietor.
- Partnerships – This is when two people decide to go into business together to make a profit. Each person owns a portion of the business and they also own whatever profit or loss that is made. So make sure you are going into business with someone who is in agreement or else you could see some trouble looming ahead. Some husbands and wives go into business in this way.
- Corporations – A corporation is set up through your state and your liabilities are limited. This means you are not personally liable for everything if trouble occurs. You do not become individually responsible for damages like you would through a sole proprietorship or a partnership. LLCs and S Corps are a part of this category. A corporation is considered a separate entity.
But wait. We need to look at this LLC and S Corp thing a little bit better. First of all, LLC stands for Limited Liability Corporation. The above definition more or less covers that. Your liabilities are limited. But what is an S Corp? Well, an S Corp is a corporation that is taxed under Subchapter S of the IRS’s Chapter 1. In other words, they do not pay income tax. Instead, they take income or losses and divide it amongst their shareholders. The shareholders then report the income or loss when it is time for them to file their taxes. So yes, the shareholders are fitting the bill.
So whichever one of these categories you fit in, it is important that you set yourself up accordingly. That way you can be taxed correctly, you will be held liable in the correct situations, and you are legally set up to do business the way you need to.
I am an advocate for staying updated with the latest Wholesale Industry trends and suppliers. Anyone one who is actively engaged in buying wholesale merchandise should subscribe to some of the larger wholesale magazines. Not only will your subscription offer new sources, but you will also be updated about consumer retail trends, marketing and merchandising. Subscription fees will vary, but again, well worth the spend!
Here are some of the more popular magazines:
Cover – Tag line reads, “Americas Source for for Wholesale Merchandise“. I have subscribed to this publication for years now. It is roughly 100 pages in length and offers page after page of wholesale suppliers for a wide range of merchandise. In addition the magazine offers retail trends and trade show information. You can view the latest issue online. Take a look- Published by Sumner Communications.
WebWholesaler – “The official print publication of Wholesalecentral.com”. Published by Sumner Communications, this wholesale magazine is a great compliment to Cover (Above). As of this blog post, you can sign up for a free subscription!
The Merchandiser Group – Magazines for the Flea Market and Swap Meet Industry. Published again by Sumner Communications. If you are a Flea Market vendor you need to get your hands on this wholesale trade magazine. Issues are geographically based on three areas: West, Midwest and east coast. Latest issues are available online!
Merchants News – Wholesale trade publication published monthly by Merchants Media. Filled with reputable and long time advertisers, Merchants News, offers a wealth of supplier contact information. A must have subscription!
Wholesale Merchandise “80,000 readers monthly” cannot be wrong, publication offers tons of supplier contacts for flea market vendors, eBay sellers and traditional retail stores.
Closeout News – Counterpart to Wholesale Merchandise, The Closeout News has long been considered the Industry standard for ‘below Wholesale” suppliers. This publication offers suppliers from the Liquidation market. A must have.
Over the years I have subscribed to all of these fine trade magazines. Chose one or all, you will not be disappointed.
What exactly is a Seller’s Permit? Sometimes referred to as a Sales Tax License or Resale License this is simply a legal permit to sell taxable merchandise. As a seller’s permit holder, you agree to collect and remit sales tax to the Franchise Tax Board in your specific state. You will need to obtain a sellers permit if you plan on purchasing merchandise on a wholesale level, as most suppliers will require that your license be on file. The license tells the wholesale supplier that you are engaged in reselling merchandise and collecting the appropriate amount of sales tax as required by the Franchise Tax board for your state.
Anyone engaged in retailing merchandise must apply for a state resale license with the State board of Equalization. The process consist of filling out an application offering information about your business. The issuance of your license can take up to two weeks after you application has been submitted.
An application for a resale license will contain all the information you will need to comply with collecting and distributing sales tax for the items you retail in your state. You must collect sales tax for those items which are purchased in the same state your business resides in. For example, an apparel retailer who operates in California must charge sales tax for any purchases or shipment of merchandise (on a retail level) in the state of California. Please consult the Franchise Tax Board or your accountant for retail sales across state lines.
Most wholesale suppliers will offer the opportunity to open a credit account, which will give you the option to order merchandise and pay with flexible terms. Unlike using a credit card, the supplier extends the credit to your business.
Many wholesale suppliers will extend credit offering, “Net 30”, which simply means payment in full is expected 30 days after merchandise is delivered. Often, a wholesale supplier will reward the buyer with additional terms if an invoice is paid in full within a shorter time frame. For example, 2% 10, net 30 would give you, the buyer, a 2% discount if if your payment is received within 10 days of the delivery of your purchase. Each wholesale supplier who extends in-house credit offers different terms, so make sure you understand the terms under your account before buying.
You must apply for a supplier credit accounts often by faxing in a credit application. Your wholesale supplier will offer an application asking some basic information including, but not limited to:
- Business Name/Address/Phone
- EIN (Employer Identification Number) or Social Security Number (Sole Proprietors)
- Expected purchasing volume monthly/annually
- References from other wholesale suppliers – Who have you purchased from?
- Signature authorizing the supplier to run your credit report
Once you have faxed in your application expect up to seven to ten days for approval and account set up. You will be given an account spending limit, which will be reviewed periodically by your supplier and possibly increased based upon your historical ability to meet account terms. Once your credit accounts are set up make sure to protect the power of business credit by paying your invoices on time and early if possible.
