How to Dominate the Four D’s of Reselling
The four D’s of reselling may be something you’ve never heard of before. As a full-time reseller, I know I hadn’t. That is until recently when Hammoq had a webinar that discussed in depth all about the four D’s. They are as follows: Death, Disaster, Downsize, and Divorce.
You can view their webinar video through the link below: https://www.youtube.com/watch?v=wwEfanC-qok
Note: Hammoq.com is an online platform that has helped me and a slew of other resellers, big and small, to grow their reselling business. They offer listing to 12 different platforms, (PLUS cross listing!), in which their customers can see 4x their amount of sales.
(I have been using Hammoq for several months now, and have seen a huge improvement in my traffic and sales and highly recommend them!)
Reselling can be tricky when you’re trying to lower your cost of goods (COG), and using this acronym can really help you to prioritize where you are sourcing and what you are spending the most time on.
Let’s break each one down into their own separate categories and go over them in more detail.
Unfortunately, this is not the most exciting thing to think about, but the reality is as resellers, we actively seek out others unwanted items. This can particularly be the case with this category, being that most families are not going to want all of their loved ones remaining items.
By reaching out to estate sale companies, via cold calling or through email, you can easily get in touch with these people, and potentially buy in bulk to keep those cost of goods down.
When you are reaching out through email, this makes it easier to prioritize your time and contact more people/companies at once. You can put together a nice little blurb, and can send it to whichever companies you prefer, much faster than cold calling or going in person to each and every one.
This category can include hurricanes, tornadoes, and the like. However, it is recommended that staying away from floods in particular, is a good decision, as items may have too much damage to upcycle.
Many times after a disaster has hit, item values will plummet and you’ll be able to invest in a lot for a little. Resellers “make their money on the buy, not the sell.” According to an article by forbes.com,
“Making your money when you buy simply means buying “right.”
Reselling is an investment, and although it may not take a lot of startup cash, it is wise to learn as you grow, and make good decisions when purchasing your goods.
This is a great opportunity to take full advantage of. A lot of people downsize, often, and for several different reasons. Whether this reason be kids moving to college, wanting a smaller home to take care of, an older person moving into an apartment from a large house, etc.
You can make this opportunity work for you by putting yourself out there and getting to know people. This could be with an online presence on Facebook, Craigslist, the options are endless! Go be fearless!
A great way to get out there and jump on these items that come available (before they hit the yard sale bin!) is to make flyers with your name and business, or make a post on a social platform, explaining that you are the best clothing/shoe/electronics reseller in the area, and would like to offer them a buyout.
Note: Make sure you drop a follow to learn of our new posts with tips and tricks! In the future, we will cover the differences between a whole buyout and buying per the piece.
Ah, yet another not so fun word we’re going to talk about! The best way to grow your business is to constantly be thinking outside the box and going where others may not have thought of yet.
This is where the Divorce category comes in. Many won’t think or know how to branch out to finding divorcees, that most likely will be needing to get rid of some things, and fast.
No worries! We’re here to help!
Check out your local lawyers/attorneys/firms that you can cold call or email (as we talked about previously). This will get you in the door to finding some potentially great items while also eliminating the middle man (aka Goodwill, Salvation Army, Savers, etc.), and keeping your margins much higher.
So, as you can see by the categories above, the 4 D’s of Reselling can be extremely beneficial to creating a successful and profitable reselling business that has an endless cap of growth.
Success is literally just waiting for you to seek it out.
Related Video: https://www.youtube.com/watch?v=QQtmamkLOKg
Don’t be afraid to put yourself out there and introduce yourself to potential clients, that could be repeat clients in the future!
Make sure you are branching out and always thinking about new and better ways to increase your margins and finding new contacts. You never know who you may meet!
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About the Author
My name is SR and I’m a writer on behalf of Hammoq. I’ve been working with them for about 6 months now, and am so happy to have found their platform.
You can visit their website here: https://hammoq.com/
I have seen a giant jump in my sales since using their services, and cannot be more satisfied with the results. We hope you enjoyed reading about our reselling tips and that you will see great results in your business as well!
Have a beautiful day!