Reselling business has become so popular in ongoing times. The e-commerce giants, including Amazon, Flipkart, SnapDeal, Meesho, eBay and so forth, have prompted the emergence of many resellers into the global market. Whether it is a seasonable product such as decorative lights during Diwali, kites during Makar Sankranti or other items like pieces of clothing, toys, shoes, electronics, or any other items. You can choose the product you want to deal in, after considering the product as per your order, and start an online reselling business in India.
Because of the pandemic circumstances, buyers and sellers go digital in a massive way and start their businesses from home. Around 45% of home-based businesses started in pandemic and presently this coronavirus crisis has turned into the new normal, for everyone, except with the new ways for purchasers and dealers to work together and transform this emergency into a future chance.
Resellers are individuals who purchase things from wholesalers or manufacturers intending to re-sell them to others to earn money. The online business opportunities in India as a reselling business are growing enormously. Starting a reseller business is easy, simple and doesn’t need any colossal venture or certificate.
A reseller is a person who brings products from suppliers, manufacturers or wholesalers and afterwards offers them to the end shoppers. And due to the pandemic, Furthermore, because of the pandemic, it has come more in the feature, around 60% of individuals are beginning their reseller businesses.
Like any business, the reseller business has its own attributes and advantages. Starting a business is a fantasy for everyone. Despite the fact that it was a fantasy for me as well, I realized it by home-based reselling business with simply an Rs1000 venture.
Individuals like Housewives, Students, or individuals who are trying to discover business or anyone who is willing to earn extra pay or wish to accomplish something of their own can pick this reselling business idea.
Starting an online business from home or part-time isn’t easy. You may be stuck thinking about what you can offer, who will be your objective clients, or where to start in sorting out some way to begin an online reseller business.
Where you can source the products
Reseller business is something that sources products from suppliers, manufacturers or wholesalers and afterwards sells them to the customers. Unlike home-based businesses or labels that sell their own products, resellers centre around offering products to their clients.
Some resellers even get their products from online websites or the second-hand goods market. They sell a wide variety of products through their reseller business.
One might think that a reseller performs the same way a wholesaler or distributor does. Both parties buy goods from suppliers or manufacturers and sell them directly to their customers. And in a similar way, a reseller and distributor have two primary areas of differentiation.
The distributor normally has a stronger relationship with the manufacturer, as compared to the reseller. Distributors assist in marketing, labelling, and government permissions, which build a closer relationship between them and the manufacturers.
However, a reseller is not closely related to the manufacturer and sometimes might never get in touch within-person. They obtain their goods from the wholesaler or the supplier for the sole purpose of selling them forward directly to their customers.
The following important questions will help you determine if a wholesaler or supplier is right for your online business or not.
Where are the products made?
What location are the products shipped from?
What will the total cost of products and shipping be?
Are there any hidden fees?
How long will it take for them to create, fulfil, and ship the product?
Will you have to commit to a certain number of products or spend a minimum amount?
What does the contract entail?
Is there an evaluation time duration or terms for termination?
What are the payment terms?
What are your return or refund policies?
Do you have liability insurance?
Does the product have or require certifications?
What support and communication are offered?
How frequently will you be updated on information like inventory, products, sales or even discounts?
How can orders be placed?
On the account of Inventory, resellers don’t clutch on to any sort of inventory of merchandise from the manufacturers, meaning they buy in bulk. Their model is based on a demand-based approach and they usually procure only those items for which the customers have placed orders. They are basically a broker between the manufacturer and the customers.
Who can start an online reselling business?
An online reseller can be anyone, a student, a homemaker, an expert worker of any organisation, or even a freelancer. All you need is a strong learning spirit and a mindset of understanding the process of reselling.
At the point when I began an online business even, I was confused with questions in my mind. Yet nonetheless, I was prepared to test my skills, though I had little knowledge about marketing, sales and advertisements.
A couple of months back I made my mind to get everything rolling with business. Firstly, I made an account on social media, there were many options like WhatsApp, Facebook, Twitter, Instagram or Telegram etc. However, I chose Instagram on the grounds that it was easy to handle. So I made an Instagram business page. Then I made an investment of Rs 1000 as I said above and started selling homemade scrunchies and sold them at first.
After a few days of advertisements and approaching a few customers I came to know what exactly the demands are in the market and gradually began to add new things such as women's and men's clothing, bags.
While approaching other customers, I came across a few Instagram pages who asked me to join their reseller pages and then my journey began. I started learning and earning from it.
Reselling has a vast area of selling products. But one of the advantages of an online reselling business is that you can choose with multiple products and the same deal according to the requirement. For instance, when choosing a combo of two t-shirts and jeans you can order as many times according to the order, you don’t need a warehouse or space to keep the stock of products.
In this way, prior to beginning a business as an online reseller, there are a couple of areas you should decide on and be specific about your products and which customers you’re going to target. Having a customer profile in mind assists you to decide the communication medium, marketing strategy, and even pricing matters.
There are platforms from where resellers can source their product for example Amazon, Flipkart, Meesho, eBay, etc. There are some apps on social commerce platforms in India that provide a wide range of products available for reselling some of these channels include Your own home, Friends and family, Flea Markets, Consignment auctions, Garage sales, Retail store clearance, Facebook groups, Through Instagram stores
One can share their selected catalogue with the customers after adding their margin to the price.
Some resellers don’t source their products through an online app. They try to find material around their local market or surroundings, which can be effectively resold. This ensures the scope for higher-margin without involving any third party in between for sourcing.
Resellers use their personal or business accounts on Instagram, Facebook, and Whatsapp to show up their product range. Orders are then received over the direct messages system.
Even for reselling businesses, targeted marketing strategies can play an important role in increasing sales. In order to be successful with your online reselling business, it is very important that you take a clear view of the whole planning that you will be required to handle as your eCommerce reseller business.
In case you're searching for how to begin an online eCommerce reselling business, try to get a hold of one and do your thorough research. Provided that you are ready with the information and resources in advance, you will be able to keep up with the demands of your business. Start discovering the reselling biz to make money online.
