So you want to start a resale business? If you’ve been considering striking out on your own in this realm, you’re not alone. Ever since the beginning of the COVID-19 pandemic, online shopping has seen the biggest boom in history — and not just for big-name box stores.
According to Digital Commerce 360, consumers spent $870.78 billion online with US merchants in 2021which is a 14.2% increase from what they spent in 2020. The good news? Online shopping isn’t going anywhere anytime soon, meaning selling goods online might very well become your next lucrative side hustle.
The bad news is that the market is pretty saturated.
“The number of online sellers have doubled since the pandemic,” said Kim Alsbrooks, owner of the Etsy shop Fernvale Vintage“It’s not a lazy person’s game. Whether you sell at a flea market or a shop or online, it’s something that needs a lot of attention to succeed.”
How to Start a Resale Business
So how exactly can you start your very own successful resale business that will stand out among the crowd? We’ve got the scoop on all that and more right here.
1. Do Your Research
This might sound obvious, but the best way to start a successful resale business is with a bit of research. Mainly, you’ll want to figure out what you want to sell and where you want to sell it.
“You’ll learn and evolve as you go, but taking some time to research as much as you can beforehand is helpful,” said Kari Durm, owner of vintage Etsy shop The Cherry Attic. “Compare platforms, other sellers’ shops, various resell items, pricing, etc.”
2. Follow Your Passions
Once you’ve started the research phase, you’re going to want to determine exactly what it is you plan to resell. Maybe its books, clothes, antiques, decor — you name it. But rather than just picking something arbitrarily (or because you think you can make lots of money selling it), Durm recommends selling something that actually interests…