Move your closeouts fast
Thursday, March 27th, 2008Most wholesalers have excess inventory from time to time. It’s just the nature of the industry. The key to “profit” with excess inventory is to move it quickly. I say “profit” because most of the time you are breaking even or even loosing money on the inventory. Never the less, removing it from your warehouse quickly is the key to freeing up funds to buy more profitable merchandise.
One of the best places we’ve found for moving closeouts fast is a website called liquidation.com. You must start all auctions at $100, so you are taking a risk if you list high value items. However, if your goal is to move your merchandise quickly, you will definitely find a buyer here. While you can use other auction sites like ebay, liquidation.com is known more for the b2b products, so there are many retailers looking for good deals.
If you have very large closeout lots, you can also contact companies like Discount Wholesalers or Via Trading. These companies have programs in place were they can purchase excess inventory and resell it to smaller buyers.