Did you know that you do not have to break the bank for you to start a reselling business on a full-time, part-time or side hustler basis? Unlike other types of business opportunities, resale opportunities usually come at a little or no initial investment to get started especially for most of the online-based services. Its relatively easier to become an authorised reseller for many manufacturers. All you need to do is to find the right match, connect with the provider, agree to terms and start selling like a pro.
The fundamental concept of resale business opportunity is that you are serving as a link between the manufacturer and the consumers. In other word, you are neither the manufacturer of the product you sell nor the end user. Some reseller actually add value to the distribution channel while others do not. However, they all get financial rewards for the role the play as channel member.
You can simply be rewarded on commission-basis or being able to set your own price. Depending on the value added, risk taken, nature of products in question and the market competition. As a commission-based reseller, the more sales you make, the more commissions you earn.
On the other hand, if the model allows set your own margins, This will give you more profit maximisation opportunity, which means the sky is not your limit. It’s also depends on your niche, the resources at your disposal, the level of competition in your target market and the pricing strategy you choose to adopt. The two common best reseller pricing strategies are either selling at a relatively low price or higher price. Again, it also depends on the product. But you are more likely to sell more quantity when selling at lower price. Making it easier for you to maximise profit by selling more quantity and guarantee your business sustenance.
Alternatively, maximise profit by selling at a higher price but the unit of product sold is more likely to be small. Meaning the higher the price, the more profit you make but less quantity sold.
Make the move now, search for viable opportunity to start your entrepreneurial journey. Resale opportunities, reseller hosting, reseller tickets, affiliate opportunities, export opportunities, drop shipping opportunities, agent opportunities, distributorship … You are welcome to the word of opportunities!