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Secondary Market, the Road to Profiting in Wholesale

Every year over half a million businesses are created in the United States.  Approximately one third of these start-ups are retail businesses.  A large portion of these businesses will focus on the “Secondary Market”. This marketplace offers great advantages and high rewards but you need to be well prepared.  Finding the right supplier to source products from is critical.

Secondary Market products consist of Closeouts, Surplus Goods, Customer Returns, Liquidated Items, and any product that is not sold after its initial manufacture. Many companies specialize in secondary market purchases and reselling.  Resellers might experience some level of unsellable merchandise in these types of wholesale orders but not always.  Retailers will be hard pressed to find a cheaper source of merchandise than secondary market items and these products can be a great way to turn a profit.

Working within the Secondary Market is more than knowing just your product niche; you also have to know how to sell products with a variety of quality conditions.  Getting creative is essential for moving not only the good products but also the less desirable ones.  A good strategy is to start small by purchasing a few pallets and working your way up to buying full truckloads.  If buying smaller loads is an obstacle, you might need to consider your source. Remember, where you get your products is just as important as what you get, especially when sourcing surplus goods.

To gain additional insight into this industry we spoke with Michael Lawrence of DirectLiquidation.com.  His company represents one of the fastest growing marketplaces for Surplus Merchandise.  

In the past, online liquidators pawned off “as is” and “salvage-grade” merchandise to buyers as the best value available in the wholesale marketplace. Product misrepresentation, low-grade items, and a narrow assortment of tier-2 or 3 brands were commonplace. The ability to purchase small loads or retail-ready products was virtually unheard of. In addition, if you were “lucky” enough to win one of their auctions you could expect a further 7-15% “buyer premium” charge for the privilege of buying their junk inventory. – Michael Lawrence

Michael went on to explain how Direct Liquidation can solve these problems, they offer buyers an incredible range of products, tier-1 brands sourced from their exclusive relationships with top national retailers and manufacturers.  Smaller loads are available so buyers can test customer demand without depleting resources.  Having an ability to test demand could be the difference between a good bottom line and a bad one.

Large liquidators buy huge volumes of surplus merchandise and returns for literally pennies on the dollar. They process and sort this inventory and make it available to the smaller buyer. Generally liquidation lots are sold “as-is, meaning there is no guarantee of lot quality and usually no return on purchase. Understandably, this comes with the deeply discounted prices on these lots, typically well below wholesale. But “as-is, doesn’t necessarily mean poor quality.  Frequently a large portion of the inventory is in new or like-new condition.  Fact is, buyers can and do make a healthy profit reselling this merchandise.

Secondary Market Wholesale Products

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Batten down the hatches – Black Friday is coming!

Some are starting to smile while others cringe…here it comes again, Black Friday.

Referred to as the creme de la creme of buying and selling, and it’s only a week away.

Adobe’s Digital Index shows that last year’s Black Friday set the bar high, with consumers spending $2.4 billion online, an almost 24% increase from the prior year. This year, according to some estimates, that spend line is increasing even more. Especially with e-commerce continuing to grow in the double digits, something it has done for several years in a row now.

bfriday

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Sandy Hook, CT – Going about donating.

Recent events within the small town of Sandy Hook, CT have struck the hearts and souls of many Americans and others around the world.  For some making a donation is all they can do, it provides some personal relief that they are helping when help is truly needed.

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Obama Re-election already causing closures and job layoffs

Within days of President Obama’s re-election businesses announce layoffs and even closures. “These cut backs are due to Obama’s re-election” stated one Arizona employer who reduced his staff by 22 employees.  Other businesses followed with similar actions and noted the fear of an even slower economy with no real change.  With no end in sight for Obamacare business owners are adjusting accordingly in an effort to make ends meet, unfortunately this means more people added to the unemployment lines.  These are real world consequences within days of a re-election, the fear things will continue to get worse is very real within the marketplace.

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SPOTLIGHT Your Company on GetThatWholesale.com

GetThatWholesale has launched a brand new opportunity for suppliers to market themselves to buyers. Although qualified suppliers can of course still list their company for free they may want to consider GetThatWholesale’s next level of promotion, the new and improved Spotlight Level. Unlike the free listing which includes only (1) product category and a very limited company description the Spotlight Level comes fully loaded. Best of all it fits even the tightest of budgets.

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GENCO Marketplace Introduces Easy-To-Use Website for Liquidation Lot Purchases

PRESS RELEASE

Release Date: For Immediate Release

Contact: Don Rendulic, GENCO ATC, 412-820-3922

GENCO Marketplace Introduces Easy-To-Use

Website for Liquidation Lot Purchases

Newly Designed Site Brings the Speed and Convenience of

Consumer Shopping Sites to Liquidation Buyers

PITTSBURGH, Pa., September 20, 2012 – GENCO Marketplace, one of America’s largest merchandise liquidators, has updated its website to make buying bulk liquidation lots as easy as buying items on popular consumer eCommerce sites.  The large-scale redesign project will enable buyers to spend less time sourcing liquidation inventory and more time selling and making money.

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Sourcing Wholesale 101 – NEW E-Book !!!

GetThatWholesale.com Goes to the Presses with Informative New E-Book

GetThatWholesale is putting pen to paper or should we say, keystroke to E-Book. The new book titled “Sourcing Wholesale 101” is a beginner’s guide to wholesale and will assist new comers to the industry.

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Sourcing Wholesale 101

Sourcing Wholesale 101

Quote startThe book is centered around the basics, it covers many of the most common questions, like what’s the difference between a Customer Return and a Closeout?, it might sound simple to those of us inside the industry but to others it can be quite confusing.Quote end

Bethel, Connecticut (PRWEB) August 08, 2012

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GET Heard by literally thousands of buyers!

Wholesale.FM offers users the chance to hear professionally produced interviews with wholesale supply industry leaders, owners, and experts on a variety of topics related to the business community. Interview subjects will provide retailers with a rare glimpse behind the marketing and canned emails and really hear from the people that make up the wholesale marketplace. Recent interviews have included the owner of Sahara Smoke Co Rodney Masri as well as Andrew Levine, Founder and CEO of JADS International.

The catalog of interviews is only half of the story. Through a link on flag ship site GetThatWholesale.com any listed company will be able to record a thirty second message without cost and using no special software of their own. They just click a button and a recorder opens ready to create their message. The supplier can then review and change their message if needed before committing to it.

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Wholesale.FM Gives Suppliers a Voice – Literally.

The online directory GetThatWholesale.com has added a new audio dimension to its network of wholesale supply industry websites. Small business and retail store owners looking for a competitive edge will now have a new tool in the box to consider and on the other side of the much sought after coin suppliers will have a new way to reach out to potential customers and literally give their companies a voice.

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GetThatWholesale.com Reviews

GetThatWholesale.com Reviews:

What are our advertisers saying?

Here are some kind words provided by those we consider most valuable to our business, our clients.  These are testimonials and reviews for the GetThatWholesale.com website and it’s network.  Although we try very hard to please everyone, in our industry that is not always possible.  We do our best though and appreciate all the valuable feedback our advertisers have offered over the years.  Here are several advertisers and their thoughts on GetThatWholesale.com. We appreciate any and all feedback as it helps us to become a better company.

GetThatWholesale Reviews:

“Jacobs Trading Company is in its 3rd year of advertising with GetThatWholesale.com. Their recognition and support of the Customer Returns industry allows us to reach buyers more effectively. We are very pleased with the responses that we are receiving and we look forward to future success together.”

-Howard Grodnick, President, Jacobs Trading Company

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“We have had both positive results and a great working relationship with GetThatWholesale.com. They’ve been an asset to our success.”

-Mark at Bagsrep.com

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“By adding a banner to GetThatWholesale.com, we saw inbound traffic nearly triple! We’re enjoying the exposure we’ve been getting and will definitely continue to advertise with GetThatWholesale.com in the future.”

-Topper Liquidators

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“We are into our 2nd year of advertising on GetThatWholesale.com and the response is great!

We paid for the entire year of 2009 in advance through their Upfront Appreciation Program and our advertising campaign is set. The traffic, response and sales is everything we wanted.”

-David Zirt, North Pines Inc