Introduction: How to Flip Pallets
While being a full time student I had to find ways to make money without having to be at work for hours. After doing some research I found the flipping pallets world. Flipping pallets consists of buying a pallet full of returned, overstocked, or pulled items from big brand stores.
Step 1: How to Get Started
In some cases you can buy pallets without having any type of sellers, resellers, or business permit. However if you do run into this issue you can apply for these things with the county treasurers office for a fee of $25-$100. This usually applies to online Liquidators. If you are shopping local this shouldn’t be a issue. The best way to find liquidators is to go online or on Facebook marketplace and search for liquidators near you. Once you find a few that you like go check them out.
Step 2: Finding a Good Pallet
When going to different warehouses to look at pallets you need to have a game plan. The biggest thing to keep in mind is to make money off the pallet. Some pallets will have a manifest of what is in the pallet and how much each item costs in the store. Some will not so you have to research this yourself. If this is the case find three things on the pallet that you can see that will pay for the pallet. If you can’t find this easily in the pallet then you should just keep on shopping.
Step 3: Transportation
Pallets can be big, and some have furniture on them. So something you should take into count is how you are going to get your pallet home. When I first started I would break down the pallet and fit it in my car. Now I buy my pallets in bulk so I rent a truck and take them to my storage. Just make sure you have enough space to move your items or enough time to make multiple trips.
Step 4: Pricing Items
This is a big part of finding your pallet. Earlier I mentioned some pallets having manifests with pricing and pricing items yourself. There is a store price and the price you will sell your item for. The different price marks depends on the quality of the items. If the item is brand new, never used, never opened then you can sell the item for 75%-85%. If the item is like new which is opened but not not used then you can sell it for 65%-75%. If the item is used but in good condition you can sell it for 50%-65%. And if the item isn’t in good condition you can sell if for less than 50%. When pricing the item in the pallet you should assume that the items are in used condition so price at 50%. This means that if the pallet is $100. Then the three items you see should be about $66, that way you can at least sell them for $33 each and make your money back.
Step 5: Where to Sell Your Items
The best place for me to sell is facebook marketplace. It allows you to post to multiple pages around you and offer shipping. Other apps include offer up, Mercari, Poshmark, eBay, 5miles, and Craigslist. You can also do yard sales, sell at flee markets, and sell at your own resale store.
Step 6: How to Sell Your Items
When posting your items make sure to provide good pictures and good details. Make sure to take good clear pictures of your items and find the items online and use the stock photos. The first picture you use it the price photo. This can be found on any website you find the item on and it will show the store price. After that a few pictures you took of the item and the rest of the stock photos. The details should be honest. If it has any imperfections then you should include this. Also use some titles and details that will link it to the store. This will help buyers search your items if they are looking for a particular thing.
Step 7: Completing the Transaction
Once you post your item and start getting messages or offers keep in mind of those percentages. Someone may try to low ball you but if your item fits into those price categories then try to stay within those percentages. Don’t be afraid to say “this the lowest I can go”. If the person really wants it they will say okay. If not then more than likely they wasn’t going to buy. Make sure to choose safe locations to complete the transaction and try to use cash if you can to avoid being scammed. Good luck on you pallet flipping!
