The reselling industry continues to pick up speed as one of the most promising industries to tap into. Plus, there are so many new and fun ways to tap into an entrepreneurial hobby to earn lots of money. If you’re already a lover of beauty brands and products, a reselling business might be a great avenue to consider. However, you’ll have to put in a considerable amount of effort to build a recognizable brand. Thanks to the power of the internet, it’s more than possible.
Sourcing and Inventory
In the reselling industry, there are many people who prefer to curate their inventory to cater to a specific market of individuals. You can choose to curate your products to cater to women within a certain age range. You can even opt to curate a large offering of men’s razors. However, it’s also okay to cover everyone. Truthfully, when it pertains to women’s beauty products, you’ll be able to cast your net wider if you don’t discriminate. Both high-end and low-end products can turn a great profit when you do the research to see how they’re doing in the marketplace. Amazon.com and eBay.com are two of the best sites to use a good barometer. Just by using one of those two apps, you can see the recent sales of a specific product and whether it’s worth the investment.
If you’re choosing to list on a major platform like eBay or Mercari, you’ll want to make sure you’re taking really good pictures of your merchandise. On certain platforms, you’re allowed to sell used products. You just need to make that clear within the description. Plus, if the product isn’t sealed, open up the product to show what it looks like on the inside. A white background is enough to look presentable. However, make sure your lighting is clear. Clean the camera lens for a clear shot.
Once it’s time to list the item, leave a really good description that includes the size in ounces and more. If the resin expiration date on a particular item, be transparent about what that expiration date is. Don’t forget to explicitly state your return policy. If you don’t accept returns on your items, always make that clear with every single listing. You don’t want to end up in a dispute due to unclear information.
Take a look at what other people are selling the same item for. When you’re considering your price, take shipping, taxes, and profits into consideration. Remain competitive, but don’t sell yourself short. If a product is discontinued without a looming expiration date, you have the upper hand. If you can wait, holdout. Someone will eventually match your price and purchase.
In addition to listing your beauty products on sites like eBay.com, it’s an excellent idea to create your website. As you build up a following and a large amount of inventory, your clients can purchase their items directly from you. As you become an exclusive provider of a variety of products, more people will want to shop from you. This is why it’s wise to make sure you have your own eCommerce website as well. Eventually, you can apply to purchase different products at wholesale prices. As you become a consistent provider of particular products, you can turn that portion of your website into a reliable stream of income. Do the research when it pertains to managing an eCommerce site. Learn about the differences between Big Commerce Pricing and Shopify pricing. As you find the perfect option for your upcoming enterprise, you’ll be equipped to pivot and shift as things expand.
A strong marketing plan is key because if people don’t know about you and your products, they can’t shop from you. As you build, a presence on the sites of major retailers, build your own brand by starting a beauty page on a platform like Facebook or Instagram. If you have lots of hair products, do an online series on handling hair in the current season. Use the right hashtags to attract new followers on a regular basis. As you create dynamic content on a consistent basis, more people will want to learn more about you and the void you’re able to fill with your products. If content creation isn’t one of your strengths, it’s okay to hire someone else to create large batches of creative content for you.
Above all else, don’t give up. There will be days when the journey seems extremely challenging. However, it’s important to maintain a healthy mindset around what you do. Entrepreneurship has its own learning curve. Furthermore, that learning curve is pretty steep. Surround yourself with people who understand your journey or people who will cheer you on. Commit to your continued education through books, conferences, and seminars. As you learn more and execute what you learn, you’ll be able to become a beauty reselling powerhouse.