When I first ventured into the world of flipping liquidation pallets, my initial thought was to resell them on platforms like Facebook Marketplace or eBay. Little did I know that there was a way to make just as much money, if not more, by leveraging Amazon's infrastructure and letting them do all the heavy lifting. In this blog post, I'll share my personal journey and provide you with a complete blueprint on how to find liquidation pallets on Amazon and turn them into profitable ventures without ever handling the products or shipping them yourself.
Discovering the Power of Liquidation Pallets on Amazon:
Traditionally, people associate flipping liquidation pallets with reselling on consumer-to-consumer platforms. However, I learned that by sourcing liquidation pallets specifically for Amazon, I could tap into a vast customer base and let Amazon handle the logistics, customer service, and fulfillment. This approach not only saved me time and effort but also opened up the potential for significant profits.
Identifying Liquidation Companies with Product Catalogs:
To start, it's crucial to find liquidation companies that provide product catalogs. These catalogs contain organized spreadsheets of the products available on each pallet, complete with product identifiers such as SKUs, ASINs, or UPCs. These identifiers make it easy to compare the products in the pallets to those currently selling on Amazon, helping you determine which pallets are worth buying. One of my favorite suppliers for this purpose is 888 Lots, as they offer fully itemized lists of their products and provide an easy-to-use website interface to browse through their extensive selection.
Streamlining the Process with Scan Unlimited:
Once you have the product list from a pallet, you can use a software called Scan Unlimited to automatically compare it to the millions of products currently selling on Amazon. Scan Unlimited quickly identifies which products in the pallet are profitable and provides valuable insights into their sales performance. This tool helps you make informed decisions about whether or not to purchase a pallet and ensures that you maximize your profitability. You can try Scan Unlimited for free here (use promo code GUERRA for 50% off if you want to upgrade).
Flexibility and Focus on Profitability:
Not every product in a liquidation pallet will be profitable, and that's perfectly fine. You only need a few profitable products to make money. Remember, even a single profitable item can contribute to your overall success. Therefore, be flexible in your approach and carefully evaluate each product's potential before making a purchase.
Ordering and Shipping to Amazon FBA:
Once you've identified a profitable pallet, you have two options: order it to yourself first or ship it directly to Amazon FBA (Fulfillment by Amazon). Ordering it to yourself allows you to cut costs by avoiding Amazon's fees for destroying unsellable products and reduce shipping expenses. You can then list the profitable items on Amazon and explore other platforms to sell the remaining products, further increasing your profit margins. However, this route requires more hands-on work, as you'll need to receive the pallet, sort the products, and ship only the profitable ones to Amazon FBA.
Using a Repricer for Competitive Pricing:
To maximize your sales and stay competitive on Amazon, it's essential to utilize a repricer. There are various repricers available, but for beginners, the free repricer in Seller Central does a solid job. Set your prices to match the Buy Box price if available or the lowest price if there's no Buy Box. Additionally, be mindful of the cost at which you sourced the products from the liquidation website, as this information helps you set a minimum price to avoid selling at a loss.
Reseller's Permit:
Before signing up with liquidation companies, it's important to note that many require a reseller's permit. Obtaining a reseller's permit is relatively straightforward, and you can learn more about how you can get one here.
Flipping liquidation pallets on Amazon can be a profitable venture, and I hope this blueprint based on my own experience helps you kickstart your reselling business. By leveraging the power of Amazon's platform and utilizing tools like Scan Unlimited and a repricer, you can make money without ever touching a product or managing shipping logistics. Embrace the opportunity, research carefully, and adapt as you discover profitable products within the liquidation pallets. Best of luck on your flipping journey!
If you'd like to watch the complete video explanation of this, check it out below.
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