Liquidating a business

24-Jun-2015 04:00

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One good rule of thumb is to buy as far up the liquidation chain as possible – the more times your merchandise has changed hands, the more likely that it is poor quality or won’t sell. Check out the price of similar items at other sites to ensure that the price you’re paying is competitive.Market research is critical to ensure that you don’t get charged too much, and that you’ll have a place to sell your merchandise once it’s in your hands.Running a business is hard enough, and keeping costs low is key to turning profits and staying afloat.One great way to launch a new business is to buy liquidation goods at bargain basement prices that you can resell for a profit.Get the contact information and place a call, or send an email; if you don’t get a response, or it just doesn’t “feel” right, move on. Are you buying from them directly, or working through a receiver? Figure up the total cost to determine the amount of profit you expect to make.

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Thankfully, there are lots of opportunities to find other businesses who are looking to cash out and unload inventory at pennies on the dollar. First, check out the Internet for websites that will lead you to reputable liquidation wholesalers.A simple Internet search will yield dozens of websites that promise daily auctions of liquidation merchandise at deep discounts, but the most important thing in choosing your supplier is to make sure it’s reputable.

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