Beginners Guide to Sourcing Liquidation & Pallets to Sell on eBay in 2020

hey what's going on everybody Steve here raking proper over raking profit.com coming back to you with another video and today I've got a real awesome treat for you guys so I've got a video the videos right here and it's with my good friends Joe and Jessica with the family flips YouTube channel they're really big in the bulk pallets liquidation and I know a lot of you guys are interested in it and I am as well I just got finished processing my first pallet there's some remains back there but I did pretty did pretty well with it learned some stuff but Joe and Jessica with the family flips youtube channel they're on a whole nother level they process hunt process hundreds and hundreds of pallets they've gone through thousands and thousands of items liquidation bulk pallet stuff like that and they're gonna be sharing some really awesome tips so I'm gonna pass the video over to Joe and Jessica in a second but I want to say right now guys if you're interested in bulk if you're interested in more scalable sourcing methods outside of just thrifting and garage sales and auctions you want to watch this video so take out a pen and a pad Joe and Jessica or about to drop some knowledge bombs so that being said smash that like button and Joe and Jessica take it away [Music] [Applause] [Music] what's up everybody my name is Joe I'm Jessica and we are the family flips we are full-time resellers we buy liquidated goods we turn we sell those for profit online and locally and we want to thank Steve from breakin profits for partnering with us so we can bring you another valuable video so today we're talking about sourcing liquidation with the sales channel in mind what I mean is is that when you are going to source liquidation that you are thinking about from the beginning how am I going to sell this merchandise you know I think Joe and I talk a lot about treating your business not as a hobby and that requires a lot more planning you know knowing how the story is gonna end and I think one of the one of the most important parts about buying liquidation when you start buying liquidation you really have to think with a business mindset and that comes with seeing everything through before you even hit that buy button or that bid button before you get that pallet into your garage or into your warehouse or wherever it is that you're doing your stuff that you know exactly how you're gonna move those items out because we can tell you from experience if you don't know that from the get-go you're gonna have issues it's gonna be in deep no fun yeah it's not funny we made lots of mistakes so we hope to be able to to allow you to learn through our mistakes and so that you don't have to make them if you choose to but teachers oh I think Joe and I really want to get down to something a little specific here and and that is that you cannot be successful selling liquidation if you don't truly understand your reselling channels so and that means and we're not when I say reselling channels I mean what platforms are you selling on what ways are you planning on moving these items and getting them to your customers hands if you don't understand that if you don't understand how each of those platforms work then you may not be moving your products efficiently and on top of that you've got a lot of them to do Jordan and of time yeah so a big big boo-boo that we made is uh big we bought a full truckload a whole truckload 24 pallets of Amazon small box items we're talking like 25 thousand items with 70% of those being under $10 and here's our thinking with this and a lot of people think this way and we've learned the hard way so we don't want you to make those same mistakes and that's why we're here but we were thinking man these are Amazon small box items we can send them into Amazon FBA it'll take two seconds to list these items and we're gonna get through the super quick and we're gonna make boo coos of money right wrong that is not what happens oh god el account Oh suspended yes yes yes so there's a lot of things that we didn't know we've kind of jumped in without any of our proper diligence and doing our research and turns out we ended up getting our Amazon account shut down because we were selling what other people were saying were counterfeit is okay they were cheap I say cheap under $10 so I don't know if you knew it but 70% of items that are sold online are $12 or under right so if you can think of for us like oh we're selling on eBay we can start selling Amazon all this stuff but then you realize like how much work actually goes into selling a $12 item on even to my pictures all that stuff like not profitable like you can still make money but your margins are very very small right so for us like we got all these items we're like we can't sell these online it's gonna take forever to take pictures we start selling stuff on Amazon and it was unbranded items like we had no invoice for it because it was liquidation even if we did have an invoice for it Amazon's not going to approve a invoice from a liquidator because the the natural sales chain has been broken you know from manufacturer to retailer retailer to customer that that's been broken when when they went to a liquidator so we can't actually prove that these items that they were saying were counterfeit weren't counterfeit because we couldn't track it to the original manufacturer and that ultimately is what got us in trouble now had we done some research people have done this before us we were not the first ones to have this problem but had we not just jumped the gun about 24 pallets of this stuff we would have known that ahead of time and it would have saved us a lot of heartache and in fact that was almost a year ago and we've got a storage unit full of this stuff because we're a little trying to move it yeah so yes yes so with that so like if you were to not make that mistake like Amazon small bucks I know Steve bought several pallets of Amazon small box and he was like I don't know how I'm gonna sell a lot of this stuff right but if we think about on the front end like those types of items you can make lots of money on those pallets but you're going to think of like discount store which is what we did we opened up our warehouse and we started having these what we call bargain bin sells what were you selling stuff for five dollars and under four dollars and under selling it for a dollar like those store models are very successful because you can get like they got these six-foot Amazon small box pallets now that you can get depend on how many you order for 600 to 900 dollars per pallet you think there's gonna be like 1,500 items on there even if you sell that for $2 that's $3,000 like that's a potential four times your money and guaranteed there's probably gonna be 50 items on that pallet that's gonna be over $100 and I'll say we got some really loyal customers people were loving it things that would take them to they would buy for 10 to 12 dollars online they were getting for $2 in our store yeah um so it was and it was decent stuff I mean decent stuff worth $12 it wasn't high-end items but we got we had some towel racks and we had notebooks perfectly good notebooks I mean they were perfectly fun and us to sell it for a bargain we were able to get it in hands of people who may not have been able to afford that you know getting that online but then also we were getting to offload it and still making a profit so it really a win-win and a lot of in a lot of ways but it wasn't a sales channel that we wanted to do right mode you say hey Joe like I don't have a warehouse I don't have a storefront right what I would say to you is flea market booth right not like an antique flea market buy like a flea market that has a diverse inventory of sellers that they have there where you can go and put those items in there for one two three dollars right there those items are becoming very very popular in flea markets talk about those low-end items that are unbranded those will do well they're like I still have items listed or an eBay store that are that fit this unbranded model and they are still there like they're they they take a long time to sell they're just pointing there they're in there somewhere they're in there and they've been sitting there for a long time so those lower and non branded items are not going to sell very well online if at all they may not even and even if you do write the a profit that you're making is not worth the storage it's taken up it's not you know so you really want to just get it off your hands whereas you know if you had something more like name-brand something of higher value those things sell really well online given within your platforms I mean you've got Macari you've got Poshmark you've got eBay you've got Amazon you but all of these places you really need to know your channel so you really need to know what sells best where to be able to make the most out of your niche or whatever it is that you have chosen to sell yeah so like just the same name-brand higher brain that have that name recognition eBay you know in your mind liquidation I wouldn't even recommend that you even step foot in into Amazon and trying to sell it there you're just asking for trouble but eBay is gonna be a great place for you to be able to sell those items honestly and and then Amazon I wouldn't even recommend anything other than wholesale just to be safe I know there are a lot of people that are doing other things in there but it especially if you're just starting out and you don't really know your rules and your laws Amazon is not the safest place to learn unless you're getting it directly from a manufacturer and they're not forgiving towards people who are just learning be very forgiving Amazon not so much right so another item that you can get a lot of is electronics you know they've got Walmart electronics you get appliances microwaves you can get truckloads of and palettes of appliances basically anything that plugs in sells it works and those generally are going to like we have sold a lot of those on eBay that eBay is a great place that people who are tech savvy can go and they can buy that item and they plan on repairing it or you can also part it out like jessica has got we've gotten lots of coffee pots you want to tell about that yeah sure um you know actually it was one of the first pallets that we bought it was a terrible pallet but the way that I could make our money back we ended up not losing money on that which was a lot of hard work but I ended up taking you know we had probably five or six coffee pots that came on this pallet maybe two of them were working and so I just took the ones that weren't working took all of the best items from those things made full coffee pots you know with the carafe and everything and then whatever was left over if I could sell it as a replacement part that would be the filter I took the that that filter holder for the coffee pot I took the carafes there was probably almost all the crafts were still good and I ended up packaging those up and selling them as replacement parts and that was really really good I did the same thing with pressure cookers we've done it with air fryers you name it if we can sell for parts or if we can sell it as is we will people will buy it and there's another sales platform that a lot of people forget about but it's at the hands of pretty much anybody locally and that's Facebook marketplace yeah I know that there is a struggle with Facebook marketplace a lot of people like to complain about Facebook marketplace being shady if you treat it like a business it might change your idea of what Facebook marketplace is Joe and I have sold lots of children's items cribs bassinet things like that tools furniture all of that very very successfully on Facebook market but just know that it wasn't something where you know they asked hey is this item available and we say yes and then that's the end of it we actually you know Joe is so good at following up and most of our self probably I would even say 60 to 70 percent of our successful sales on Facebook marketplace has come from him following up and saying hey are you still interested in this item because most of the time people like oh that's right I forgot when can you meet and he can organize those and we've had really good luck on Facebook marketplace just by treating it like a business and that is a perfectly plausible way to make money selling those higher-end goods so to summarize to really give you some good action steps so that you can take it and apply it to your reselling business the first is going to be action steps what can you do now that we've talked about this like what can you do to apply this to your business the first thing would be just to analyze your sales channel and how you plan on selling items and then when you are sourcing those items that you are looking at finding those items that you can sell on your preferred sales channel right basically you want to know the end of the story before it even starts yeah so when you are sourcing you are sourcing knowing exactly how you're going to move those items because if not then you are doing when you get those items in you're going to be reactionary yeah and that stuff's just going to be sitting there while you're trying to figure out how to sell it and we all know that when we have unlisted inventory that our cash flow is starting to go down which is going to reduce our buying power which is it's not good for the business you know that I know that so I hope you really enjoyed this video thanks again for Steve who has partnered with us and sharing some valuable information there about liquidation if you have any questions feel free to hit up the comments yeah I hope if you've taken one thing away it's to think look at the end of the road see how you want to get there and then go and find items that are gonna allow you to get there source with the end in mind yes so we appreciate you again Steve for allowing us to be on your channel giving this information to your loyal audience and don't forget to like this video and subscribe to Steve if you haven't done so already yeah he's pretty awesome until next time please

Channel: Raiken Profit

Views: 30,973

Rating: 4.8976488 out of 5

Keywords: sourcing liquidation, liquidation, liquidation business, liquidation pallets, liquidation wholesale, sourcing for online arbitrage, reselling liquidation, reselling liquidation pallets, source liquidation, amazon fba, arbitrage, buying and reselling pallets, ebay seller, ecommerce, fba, pallets, raiken profit amazon fba, raiken profits, reselling, reselling business, reselling on amazon, reselling on ebay, reselling pallets, selling on amazon, selling on ebay, the family flips

Id: nVZFgodfW2E

Length: 14min 48sec (888 seconds)

Published: Thu Dec 05 2019