The business of selling merchandise is not as anyone, even the biggest chain of retailers have to take massive risks to make sure that sales are made. The smaller the retailer, the bigger the risk factor becomes.
Flea market owners need to keep their prices lower while making sure that they make a reasonable profit margin through the sales. They essentially sell products, just like retailers do and the merchandise will cost approximately the same to both the flea market owner and the retailer.
In order to maximise profits, an alternate approach is needed. There are smarter ways to acquire goods at a cheaper price than the retailers and it is through the 3rd party retailers.
Flea market owners always have an option to acquire their resources through aftermarket liquidation retailers or through close-out sales.
These individuals/organisations acquire their goods from the a chain of market retailers who were unable to sell this stock due to a truckload of reasons - excess stock, returned stock, small deformations/damage, etc.
Liquidation Pallets and Closeout sales provide a safe and economical option to flea market owners as opposed to acquiring stock from the manufacturer or unsavoury and uncertifiable merchants. This both helps solve the problem of making a respectable profit margin as well as renewing stock every time it runs out.
What are Liquidation Pallets and are they safe?
Liquidation Pallets, truckloads of merchandise and crates of goods such as decor, electronics, books and clothes are acquired by 3rd party retailers from retail chains (like Amazon or Target) when these retailers are unable to move their stock of goods in time.
These could be not sold for a multitude of reasons - they were returned, they weren’t sold enough to finish stock, they sustained small damage during transportation, etc.
The 3rd party retailers have a tie-up with companies like Amazon and buy their excess stock for a fraction of their original price, which you can acquire from them at a fraction of the original price.
These merchants are certified and sell only the best manifested and unmanifested Pallets. Making the transaction completely safe and secure.
What are Closeout sales and are they safe?
In similar fashion to Liquidation Pallets, these are goods that weren’t sold due to various reasons.
They are collected by a 3rd party seller or auctioneer and sold for measly amount via auctions. How closeout sales differ from Pallets is that they might yield rarer goods and it is the last chance to acquire those goods.
Based on the rarity of the stock, the price might fluctuate as other parties may bid higher due to vested interests.
These two are completely safe as they are performed in tandem with the original owners of the goods, the retailers.
Buying Goods in bulk and quality of stock
You may ask yourself “why to take the risk of buying in bulk?” Well, buying Liquidation Pallets in bulk has advantages for both you and the retailer.
They move a large sum of goods at the same time and make a lot of money. Buying in bulk ensures that you buy enough to not run out of the merchandise for your flea market, plus the retailers give you a hefty discount on the prices of the Pallets.
Most of the products in these Pallets are often not damaged or even touched. They lie in the retailers' shelf and are returned to the warehouses intact.
Their quality will not be a questionable element, granted that you acquire these from a trustable source. Sourcing is not a difficult task, finding a trustable source however is.
Always looks for Pallet retailers who are transparent at every step of the transaction. They should be able to give you a look at the pallet in their warehouses, they should provide you with a proper manifest for the goods (if you buy manifested) and their returns policy should be fair. Remember, transparency is key.
These choices will enable you to source great quality goods at pennies as compared to their retail prices, enabling you to restock faster and maximise your profits.
Alternatives to Liquidation Pallets?
You will find alternatives to this method of acquiring your primary resources, some of them come with their own set of issues, however.
These are some of the alternative ways to acquire goods if you are a smaller flea market and it is not suitable for you to invest in bulk.
1. Live Auctions:
These are events which you can find listed on websites or forums. You have to find the right ones in order to bid for what you need. The issue sometimes is that you will not find enough stock of something that you want and quality is also questionable at times but it is a cheaper alternative.
2. Estate sales and Yard sales:
Events held for auctioning out products which are more personal in nature. Estate sales happen when someone is downsizing due to bankruptcy or after someone has died.
Yard sales happen when people decide to move out older and not to use products. You might find more useful and saleable items at estate sales but yard sales prices cannot be beaten.
3. Wanted Ads and Classifieds:
These can be found both online or in your local newspapers. People or sellers want to sell items that are not of use to them anymore. The advantage here is that you will find less competition and can bargain solely with the original owner of the product - first come, first serve.
These alternatives cannot guarantee you new products or the quality of products. It is advised that electronics and clothing shouldn’t be bought from such events. They are however quite good for antique pieces and furniture.
It is completely up to you which of the above options you pick and choose. You need to do your homework before you greenlight anything - some places are better than others for the procurement of a certain type of materials.
If you do decide to buy Liquidation Pallets however, you need to see that you do so with a trustable source such as, QuickLotz.
We have the experience you need to succeed in this competative market. We are the biggest and the best Liquidation Pallets retailer in all of America.