Reselling business can be a great opportunity for newbies in the business industry. If you have a smaller capital and capacity to be a wholesale chocolate supplier, you can always opt to resell.
Just to give you an idea of the difference, a wholesale chocolate supplier sells its products to other businesses such as retail chains, grocers, and restaurants. They distribute it with a wholesale price list.
On the other hand, reselling allows starting on a smaller scale. You can sell your chocolates to your friends, family, and colleagues. From there, you can ask them to spread the word about your chocolate business to the rest of the community.
This makes reselling business free from many economic worries. This option allows you to get rid of the tension of arranging a huge amount of capital, a big warehouse for stocking inventory, labor, etc. However, this type of business still requires a lot of patience and commitment.
What is Reseller Business?
A reseller business allows you to resell products, in this case, chocolates bought from manufacturers or even wholesale chocolate suppliers to customers.
As a reseller, your role is essential to deliver your products from the manufacturer and customers.
An advantage of being a reseller is that you won’t need to create your products, but you have the freedom to do an extensive selection of products you want to sell. Moreover, having a reseller online shop can expand into other niches without expensive inventory fees and additional costs.
Benefits of Being an Online Reseller
Easy resourcing from a diverse product selection and lower business costs are some of the initial benefits of having an online reseller store. Here are other benefits you can reap from being an online reseller.
Sell a Variety of Reseller Products
A reseller can sell a diverse range of products. In this case, aside from a uniquely flavoured selection of chocolates and the usual milk chocolates and white chocolates, you can also sell other treats and deserts in your online reseller store. You can be a one-stop shop within your niche.
Moreover, expanding your menu or list of products in your reseller online shop won’t cost more money as you only pay for goods as customers buy from your store.
Having said this you won’t be limited by your product category. If you compare it, if you opted to be a wholesale chocolate supplier, it can be expensive to buy bulk inventory for ingredients and pay shipping fees.
But in some cases, other wholesale chocolate suppliers have enough product selection compared to others.
If you finally found an online store that offers a wide range of flavours, you are lucky enough to contact them immediately.
Launch Your Business Sooner
It will not take a long preparation for you to jumpstart your online reseller business. Your first day of operations is the day when you started selling.
You can create an online reseller store within less than an hour after you prepared your products for marketing.
Carry No Inventory
The best part when you become a reseller is that you don’t have to carry inventory unlike if you opted to be a wholesale chocolate supplier.
The good thing about reselling is you only pay for goods that the customers ordered. This is more cost-effective, thus, it is a great choice for new entrepreneurs.
Even if you sell niche products or boutique clothing you can still make a profit without holding stock.
Lower Time Commitment
Online reseller store owners have a flexible time. They can run their reseller business without having to spend 24/7 in front of the computer managing it.
In the advancement of technology, most of the processes in running an online reseller store are automated. Another reason why this is perfect for newbies because they can manage your business easily.
You also save time since you won’t need to package or ship products to your customer. Remember? You connect the manufacturer to the customers.
Lower Financial Risk
Probably, this is one of the best advantages of a reseller business. Because of the low financial cost, starting businessmen can opt for this so they can have a first-hand experience of running one.
Moreover, this is a perfect business for the budget-conscious or risk-averse entrepreneurs.
It is cost-effective because bulk inventory is not required, shipping fees are not high, and you only pay for goods as customers order them.
Able to Set Your Margins
Unlike wholesale chocolate suppliers who have fixed pricing, when you become a reseller, you’re free to set your margins and you can choose to price your products any way you want.
Since the investment is low, you can make your reselling business more profitable, You can put a higher yet still decent price on your products.
However, you need to make sure that you look at industry standards for product pricing.
You should know that one of the goals of your reseller online shop is to make money fast. You can expand your business with your money or start your own business with your products.
You can still grow your reselling business. Here are some ways on how you can promote and grow your profit from having an online reselling business.
Price Your Products Well: One thing why customers like to buy from online resellers is because products are sold at a cheaper price, however, as the owner you need to make sure you are still making a profit despite the low pricing.
You need to consider the savings you will be needing to use when your business starts to grow. Also, the workers will be paying and other costs that make your business run.
Take note, as long as your product price makes sense for the market, you don’t need to underprice yourself. By lowering your prices to stay competitive, your business inches closer to failure.
Create Ads on Facebook: In general, Facebook ads tend to be the most popular choice for online resellers. Moreover, impulse buy products work really well on this channel.
With Facebook ads, customers only see your product’s ad as they scroll through their feed without any competition unlike in Google ads.
Create Content: Similar to any business that wants their brand or products out there, it is recommended that you create a video and blog content reselling shop.
This can help with your brand presence and possibly increase your sales through time. Aside from your actual reselling store, you can also monetize your videos by running ads on them and blog content by retargeting your blog traffic.
Online reselling businesses are a trend for business enthusiasts that are just starting. This is a great option for them to start selling the products they truly believe in. However, if you already have an existing business you can just amplify your menu with new products.
There are wholesale chocolate suppliers present online that you can tap if you want to add a little white chocolate, milk chocolate, or even the healthier option, dark chocolate.
Moreover, there are also wholesale chocolate suppliers that offer a wider range of options including unique and out-of-the-box flavours from spices, nuts, etc.
Anyway, if you want to resell you have the freedom to offer a variety of products.