Wholesale Industry News

GetThatWholesale Interviews Honeys Place

Robert — Wed, 18 Apr 2018 00:49:12 +0000

Brian is the Web Accounts Manager for Honey’s Place, he offers his expert opinion on the Adult Novelties industry. Our business is your success! Honey’s Place works hard to ensure your experience is always personal, profitable and successful. We offer state of the art order processing and drop shipping services.

GetThatWholesale: Could you provide a brief sketch of your background and industry experience?

Brian: In May 2000 I started as a sales associate at the Hustler Hollywood store on Sunset Blvd. I was eventually promoted to Inventory Control Manager of the store (maintained inventory, placed all orders, received all product, and made sure it was properly merchandised and/or backstocked). I worked there until April 2008. I have been with Honey’s Place as a web account manager Since April 2011.

GTW: It would certainly seem that the market for adult novelties has become huge in recent years. Is this so, and if so to what do you attribute this rise?

B: I think the “mainstreaming” of porn and the rise of up-scale women/couples friendly erotic boutiques has hugely contributed to the increase in market size. Companies aren’t sleazy as they once were, the new generation of owners/producers see it as a serious business.

GTW: How does the profit margin on adult toys compare to other retail niches?

B: The profit margins are normally a little higher than normal retail.

GTW: I noticed on your site you have a category entitled As Seen on Oprah, could you explain what this means?

B: Like it not, Oprah has a HUGE influence on middle aged, middle class women. She has shown this line on her show. It’s like the the huge increase in the sales of “rabbit-style” vibrators when they were shown on the tv show “Sex In The City”. Shows the items on show women watch-they’ll buy the product.

GTW: What advice would you offer to a retailer interested in carrying adult novelties and toys?

B: Learn the product, learn about the different materials. Learn what’s compatible with what. Start with the basics, nothing too freaky and hardcore. Women will be your main customers – lean towards pretty stuff.

GTW: On a related note are there legal concerns a retailer should be aware of?

B: Yes, obviously the product cannot be around

/sold to minors. Also the amount of product in the store will depend on the zoning. If they want to be an “adult store”, there will limits to where the store can be located. There is a way around that. An “erotic boutique” as we called Hustler Hollywood, are able to be in normal areas. The percentage of adult product to non-adult product has to be below a certain percentage. So, we had a cafe with magazines,books, apparel, lingerie, jewelry, souvenir glassware, condoms, and lube. All of these items are not considered “adult”. All of this was open to any age – which helps draw customers, no one is turned away at the door. We had a separate section with the porn DVD’s and sex toys that required an ID to enter. I think our percentage was 60/40-adult. Every town will have its own ratio.

GTW: What trends do you see developing in the adult items industry or the coming years or months?

B: There are many adult items that are getting away from the “molded peni” look and changing to more ergonomic designs designed by women. These items are usually easier to sell because its an asexual shape rather than a “big ol’ dong”, which can scare off a nervous first time buyer. There’s also a new trend in packa

ging. Many manufacturers now offer “soft packaging”. There’s no nudity on the packaging – so the items can be sold in almost any store, and it’s more appealing to some women and couples.

Honey’s Place

640 Glenoaks Blvd
San Fernando, CA 91340

Telephone: 800-910-3246

Email: customerservice@honeysplace.com
Website: http://www.honeysplace.com

Source Your Inventory From Top Retailers With BULQ

Robert — Mon, 13 Nov 2017 17:01:13 +0000

BULQ is disrupting the liquidation industry by offering a manifest guarantee, flat-rate shipping and the ability to source on the go.

BULQ is striving to disrupt the liquidation space. They’re a sourcing solution that is committed to providing resellers with the best possible buying experience. Because BULQ’s founders have experienced, first-hand, the challenges to sourcing, they have created a sourcing platform that offers a more modern and accessible approach to the liquidation industry.

What Sets BULQ A Part From Their Competitors?

What really sets BULQ a part from its competitors is ‘The BULQ Promise.’ The three main pillars of this promise include a manifest guarantee, flat-rate shipping, and dedicated support.

BULQ’s founders understand that a major pain point for customers is wasting money on lots that don’t match the manifest, they decided to implement a manifest guarantee. If the manifest is off by more than 2% in terms of condition and quantity, customers can make a claim for reimbursement.

Another frustration in the industry has been around high and unpredictable shipping costs. BULQ has made the shipping process super simple, offering flat-rate shipping. Shipping is $30 per case and $200 per pallet. Inventory can also be shipped directly to a buyer’s door, no lift-gate required.

The final part of the BULQ Promise is the brand’s dedicated customer care team. Agents are available 6 days a week to answer questions and or provide other assistance either over the phone or via email.

How Does the Site Work?

BULQ works with major retailers to access their liquidation inventory. These retailers will either send their stock to BULQ’s warehouse for processing or they will sort and process their liquidation inventory into pallets or cases using BULQ’s proprietary software. These wholesale lots are then listed on the BULQ.com site for resellers to purchase.

Navigating the site is easy. Buyers can browse lots using a range of filters to quickly target suitable inventory. These filters include category, condition, lot size and price range. Once customers have selected a lot, they will find a manifest that details each item and the respective product UPCs and ASINs. This transparency allows customers to know exactly what to expect when sourcing with BULQ.

BULQ’s site experience is also accessible to all. No need to create an account or get approval to browse the site. Once customers are ready to make a purchase, they will create an account. Their information is then stored so users don’t have to enter all of their details for each subsequent purchase.

Browsers can discover wholesale lots that meet their selling needs through daily Inventory Notifications, the Newly Added tab, or the New Price Drops filter. BULQ also offers an on-the-go sourcing app, available on iPhone or Android devices. While the app has all of the same features as the desktop experience, users can also take advantage of real-time push notification options. Users can be the first to know when inventory becomes available that matches their preferences, browse all available BULQ lots, save listings they’re interested in, research and purchase directly from your phone, and manage orders across all devices.

For those just getting started, the BULQ blog also provides helpful resources for navigating the wholesale/reselling space!

Go to BULQ to browse all available liquidation lots, sign up for notifications and download the app to stay in the loop!

This post was sponsored by BULQ.

101 Hints & Tips for Flea Market Success

Robert — Tue, 24 Oct 2017 18:39:14 +0000

Research and Preparation

Find the market where you’d like to sell. Flea markets seeking out vendors usually advertise on Craigslist, local newspapers, and via online venues such as news station chat boards. Check these avenues out to find a market in your area, or ask friends about the markets they like to shop.

Observe and take notes. Scout the market you’re considering for your booth and look at the population, the products being sold and their prices. Note any trends that you identify.

Note other vendor’s prices. Your prices always should be close to or ideally below the prices of your competitors, especially if there are many of you selling the same types of items at the same flea market.

Depending on your city, county, and state requirements, you may need a tax ID number or resale license. The flea market office can usually tell you what you’ll need, and many have the paperwork available onsite.

Try to reserve a booth as close to the entrance as you can. This will ensure that buyers entering and leaving the flea market will see your booth first, and then again as they prepare to leave. The more visibility you have, the better!

Pay for your spot in advance if possible. Sellers all tend to arrive at the same time and stand in line for a spot. Maximize your chances of getting a spot in the best area by knowing who you’ll need to talk to and where you’ll need to go. If the market offers that option, paying ahead guarantees that you’ll have a spot.

Ask the flea market owner if they provide any additional services to their vendors. Some provide a newsletter to their vendors that gives them business tips, local auction dates and times, recommended places to buy products, etc.

Choose the highest traffic booth space, if you have a choice. If entrance spots aren’t available, try to be near other booths or concessions that will attract the sort of traffic that you want.

Invest in a pop up shelter, as well as some good folding tables and folding chairs. Make sure you have some anchors (such as 2 ½ gallon buckets full of sandbags or cement) that you can use to hold your shelter down if the wind picks up. Tables should be clean, or have some table cloths (preferably solid colored) to cover them with. Presentation is very important to buyers and will help increase sales.

Setting up a canopy will not only give your space a professional store-like appearance, it will also give you protection from the hot sun or rain. After setting up your tables, arrange your merchandise in an organized manner. Remember, a junked-up messy area can take away from the value of some items. It can also cause people to start tripping all over the place.

If you need electricity, bring extension cords! Most flea markets have power outlets available but they are not necessarily going to be near your booth. You can often hook up to one of your neighbors’ power supply if you bring your own extension cord.

If the flea market doesn’t specify a setup time, get there early. You want to have everything ready to sell when the customers arrive, and they will arrive the moment the flea market opens.

Make up a cash box ahead of time with plenty of change, and note down the total amount so that when you can take out the day’s receipts, the box is ready for next time. At the booth, keep the cash box close by and out of sight.

Use a tote bag to assemble a kit of things you’ll need such as tools, marking pens and tags, tape, paper towels, etc. Leave the kit packed and ready to go each time. This saves time on sale day and helps ensure you don’t forget anything.

Be prepared with the following: pens, pencils, markets, a notebook, price stickers or tags, extension cord, bungee cords, zipties or Velcro straps, safety pins, shopping bags for customers, wet wipes or hand sanitizer, tape, scissors, calculator, business cards, sunscreen, bug spray, aspirin/ibuprofen, a small cooler with water.

If you sell clothing, fashion accessories or shoes, make sure you have a full length mirror in your booth. Shoppers love to check themselves out before buying an item – don’t lose out on a sale because a shopper can’t see what she looks like in the coat she is trying on!

Bring more than you intend to sell. You may still end up bringing things home but it’s best to have a variety of items always available rather than seeing your stand get depleted throughout the day. Full stands attract more buyers!

Don’t be afraid of bringing items you think you won’t sell. There is a market for everything and at the right price, anything goes!

If you can, bring someone with you. Not only will it be helpful to help you set up and tear down without spending hours on it, but it will also allow you to step away from the booth for a few minutes during the day and see what others are selling at the market.

Having someone with you can also help wait on customers and watch for shoplifters. Professional shoplifters often work in pairs. One person will distract the vendor with questions, while their partner steals items.

Make and bring change! Make sure you have all kinds of coins (especially quarters) and small bills. Many people are likely to show up with $20 bills and you need to make sure you don’t run out of change in 3 or 4 transactions.

Pack a cooler! Most flea markets have a snack stand or place to get something to eat and drink but if you’re really busy, you might not have time to step out. Bring a cooler with ice packs, water, small snacks or anything to hold you over through the day.

Business Issues

Know your audience. Know the demographic and cater to them by placing attractive items to that demographic at the front of your booth. If your flea market caters heavily to teenagers for example, be sure to put items related to that demographic where they can be seen at a glance.
Keep track of accounts and customer records. A simple notebook to write down your sales may be enough at first, but it is much easier to keep track of sales and inventory with proper software such as Intuit or Quicken, as well as CRM (Customer Relationship Management) softwares. A CRM would allow you to collect your customers’ data (such as email address, phone number or even home address) so you can then market to them outside of flea market opening times.
Keep inventory records. Make sure you know how much you bought of something, how fast you sold it and what your profitability was. This will allow you to make faster and more educated purchasing decisions down the line, and you’ll be able to pull up sales information for an item quickly and easily.
Take advantage of technology and tools. If you only accept cash or check payments, consider accepting credit card payments. This will make it easier to close sales with customers who may not be carrying enough money in cash. Consider obtaining a merchant service account with your bank and take advantage of Smartphone applications for Credit Card processing.
Accepting credit cards can increase your profits. These days, you can purchase a small adapter to turn your smart phone into a credit card processing terminal (the Square app). Catch customers who have run out of cash!
If you have no designated cashier, consider wearing a fanny pack or an apron with large pockets to avoid leaving a cash box unattended.
Have a notebook or receipt book handy for customers who may request a receipt for their purchase. Don’t lose out on potential sales because you are not set up for receipts! Customized receipt books are also a great way to market your flea market booth!
Keep a notebook on your table to make notes of what customers are looking for, to keep up with trends, and to make notes of what merchandise will sell well. (Tie the pen to the notebook with a string so you don’t lose it.)
Know your tax liability. Check with your local revenue department to determine your tax liability. The laws are different from jurisdiction to jurisdiction, so get all the facts before the day of the swap meet.
Unless you plan to allow returns and exchanges, you may want to display an ?all sales final? or ?merchandise sold as is? sign to protect yourself against having to deal with refunds.
Price it right. Starting out at a lower price is often the way to go. Calculate what you need to get for an item based on your purchase cost for it, the price of your gas and your stall rental. General retail markups for lower priced products is 40% to 50%. Mark your items up 30% to 35%. Remember you are trying to get a feel for the markets and your products. When you determine which items sell and which don’t, you can adjust your prices accordingly. If you raise prices, remember to do it gradually – never spike a price.
Make sure you price all of your items visibly. When customers see no prices they assume the price is high. Many will walk past you, afraid to ask for fear of having to then tell you, no thanks.
Favor volume over profit margins. It’s more profitable in the long-run to move your inventory quickly, make money for the next load and keep bringing in fresh inventory. If customers see the same stuff over and over that hasn’t sold, it lowers the perceived value of the merchandise.
Offer volume discounts when possible. Offer combination deals like ?4 for $20? instead of 1 for $7.
Lower your prices as the days go by. If you have multiple flea market days, charge your premium pricing on the first day. For every subsequent day that those same items haven’t sold, discount them until they’re gone. Focus on moving everything as quickly as you can.
Do not “hold” any merchandise unless it is paid for. People who ask you to hold something for them rarely come back, and you have lost out on a potential sale by taking the item off of your table.
Make it a family affair. Involving your children in the flea market business is a wonderful way to spend quality time together while teaching them about customer service, accounting, sales, marketing, and responsibility. You can even encourage them to sell some their old toys, clothing, and electronics so they can make their own money.
Write down your experiences. Write down what you brought, what you should bring next time, what you could have done without. Write down what was effective and what was not, and anything else you learned. Next time, you’ll be able to look at your notes to improve your experience from one week to the next.
Reinvest a portion of your profits into more merchandise. Find a combination that works for you, but always reinvest a portion of what you make to help you grow your business.

Merchandising

Use clothing racks to merchandise clothing by size. Avoid wasting time answering questions about whether you have this item in a particular size. Mark your racks by size and tell customers that everything you have in that size is on that particular rack.
Use inexpensive mannequins or mannequin torsos to display attractive pieces of clothing prominently.
Merchandise shoes by size, outside of their retail boxes. Allow customers to see what styles are available in their size at a glance without opening and closing dozens of boxes.
Sort through mixed lots of merchandise and organize them by type of item. It’s much easier for consumers to find what they need if they can easily see what’s available. Digging through mixed bins can be time-consuming and is visually less attractive than an organized layout.
If you sell hats, consider using mannequin heads to display the most popular styles. Organize your hats by style and/or size to make it easy for shoppers to browse.
If you sell cosmetics, try to avoid laying them out on a table. This can invite a high amount of theft and devalues the merchandise. Purchase custom standing cosmetics displays to attractively merchandise the items in a way that catches the shopper’s attention and makes the items look valuable.
If you sell small items like jewelry, gemstones, cosmetics or small electronics like cables and adapters, consider using locking display cases. Customers will still be able to see inside but will be less tempted to touch everything and/or walk away with unattended units.
Use a retail display to display jewelry attractively. If that is not an option, use simple hooks to hang necklaces and bracelets from the top of your booth. Quick, easy, and much easier for buyers to see the items!
If you have items that you aren’t sure how to display, be creative! One flea market vendor we visited had a series of handmade rings displayed inside open egg cartons. Each ring had its spot, and people stopped to admire the creativity of the display, at which point she could engage them to purchase.
Show samples. Instead of having items on racks, in boxes or stacked out of reach, create a sample table at the forefront of your booth to show samples of what you have for sale deeper inside your booth.
Merchandise for gender. It is known that there are differences in the way men and women shop. If your booth caters primarily to men, make sure your presentation is more direct – everything in a logical, obvious place. Women prefer to browse and dig for treasures, while men typically prefer to find what they need easily, pay and leave.
Cover the front and sides of your tables to hide all the empty boxes and stuff you have stored underneath. Consider using plastic table skirting that already has adhesive on it. Place this all around the outside of your tables to make your display look cleaner.
When setting up your tables, always leave enough room for three people to walk side by side between your rows of tables. This will encourage browsing as people do not typically like to be crowded. Set up one or two folding chairs near the front of your booth as an invitation for tired or elderly buyers to have a seat and rest.
Place special items (those you know will be good sellers) where they will be seen easily. Don’t bury them in a crowd of lower selling items. When you have items that aren’t moving as well as you would like, move them around every hour or so. This will give your booth and tables a ?new look? that may encourage browsing, even by folks who have already been to your booth.
Add height to your table. Upside down crates, bins or staggered shelving gives you a place to display more special items on your table. Bins or boxes that you carry the items in can be inverted and/or used as extra ?tables? in a pinch in front of or to the side of the original table. As long as people have a clear path to get to the table to pick up items, use your imagination!
Instead of stringing a series of tables together in a line at the front of your booth, put your tables in the shape of an inward “U” so customers have to enter your display space in order to view products. This allows you to speak to customers away from the busy walkway, and it draws them in to see all the items you’re offering, away from the bustle of the passing crowd.
If stuff isn’t selling, move things around. You never know what catches people’s eyes.
Look at your booth from outside. Once you’ve set up, walk outside and see your booth from the point of view of your visitors. Are your signs clearly visible from the different directions where people will approach? Is your booth inviting? Do you have any distracting loose ends showing?
Step out to the customer’s side of your table frequently and rearrange so every item is visible. If you have items on the ground or floor, try to group them together and place them beside something tall so they won’t be tripped over.

Marketing

Promote! Don’t rely just on the foot traffic that your flea market gets. There are things you can do to drive additional customers to your booth like advertising through community boards, churches, classifieds, flyers, craigslist and couponing websites.
Make inexpensive business cards to hand out as coupons to customers to encourage repeat visits. For instance, make 20% off purchase of $20 or more to entice customers to come back. VistaPrint is a great printing company that offers very low prices on business cards and flyers.
Use colorful and impactful signage to highlight specific brand names, high-demand items or special promotions you’re running. The idea is to catch the shopper’s eye as he or she walks by.
Arouse curiosity. Marketing is easier when someone asks you about your business, so find a way to bring people to your booth with a question on their mind. It will provide a perfect opening for you to talk about what you have to offer. For example, have a contest to guess how many dog biscuits or jelly beans are in a container. Anything that makes people stop and take a closer look increases your odds of making a sale.
Make sure your signs are neat and easy to read. Be creative in your approach to getting people’s attention and interest. Balloons tied to your tables, canopy, etc., is a great way to catch attention.
Consider investing in plastic shopping bags with your business’s name and flea market stand number printed on them (if you have a permanent space). Other shoppers will see your bags all around the flea market and advertise for you once they leave the premises.
Set up a Facebook page to keep in touch with your customers. Shoppers aren’t just the flea market’s customers, they are yours and it’s very helpful to stay in touch with them so you can market to them and make repeat sales the next time they visit the flea market.
Use dry erase boards and colorful markers instead of printed signage so you can change your messaging throughout the day. As items sell out or items become slow-moving, communicate any limited time promotions or put a different item on special every hour by communicating it on the board.
Be creative and think on your feet! Bring extra construction paper with you to make signs on the fly if you notice certain items aren’t selling. Sometimes it’s as simple as attracting the buyer’s attention to an item to make it start selling.

Service and Salesmanship

Be active. Greet your customers as they walk by and invite them in. Don’t just sit at a table reading or going through your phone, as people are much more likely to walk right by you if they are not engaged.
Attract buyers with your booth environment. If you know that the flea market is frequented during daytime hours by mothers and their children for example, consider having an interactive game (like bobbing for apples) at the entrance to your booth. If the child stops, the mother will stop as well and it will be your opportunity to greet and engage her.
Be open to dialog. Many people come to flea markets expecting to be able to barter. Be open to bartering and negotiating price with your customers, and know ahead of time the lowest price you would accept for a given item. Be friendly during the negotiation. It’s sport, not conflict!
Be prepared to offer volume discounts when bartering. If a customer is insisting on paying a price you believe is too low, consider selling it to them at that price if they buy multiple units of the item or combine the purchase with other items.
Have something for the kids. Consider having balloons, lollipops or something small to give out to kids who shop with their parents. This will keep the kids quiet and entertained so they don’t detract from their parents’ shopping experience, and will also lead them to stop at your booth while walking through the market.
Cross sell. Consider creating preset volume offers, also called 2-fers and 3-fers. One item costs this much, but if you buy 3, you get a discount! Buyers love this kind of deal and it allows you to move more volume and make room for new product faster.
Demonstrate! If you are selling any item that requires assembly or that is a bit unusual such as an “As Seen on TV” item, sports equipment or cool kitchen tool, consider demonstrating how it works. People will stop out of interest and will immediately feel engaged. You can also opt to show a video of how the product works, which can be enticing and informative.
Be upfront with your customers about damaged items. Don’t wait for them to notice a defect- point it out yourself. Honesty and integrity are key to building a solid business.
Customer service is crucial. People want to be treated well, regardless of where they are shopping. Be the flea market vendor that is known for friendliness and helpfulness. Shoppers will be glad to buy from you, even if your prices are the same as other flea market vendors.
Be positive. Shoppers want to buy from positive sellers. Shopping at a flea market is supposed to be fun, make it fun for your customers.
Wait until a shopper has honed in on a particular item before offering any comments about it and be ready to bargain.
Look like you want to do business. Too many exhibiters at flea markets, craft shows, fairs and conventions seem to think the merchandise speaks for itself. Yes, it’s hard work to stand on your feet and greet passers-by, but doing so will let people know you’re proud of what you have to offer.
Know your items. Be ready, willing and able to answer any questions your customers may have. If you know the history or provenance of an item, or any known facts about an item, being willing to share this information will go a long way to closing a deal.
Work on something in your booth. People stop and look if there is activity going on. If you play around with the merchandise, hold it up for people to see, work on fixing an item or otherwise fiddle with the items, people will be interested in what you’re doing and will stop to chat. Don’t sit there and wait for people to stop.
Be ready to sell! People don’t usually come to flea markets to buy things they need. They go to see if there’s anything they want. It’s your job to make sure they want something you’re selling! Stand up, show off your product and engage your customers.
Set out a small dish with wrapped hard candy or mints. People who stop to get a candy will also shop. Keep the bowl very small, so people will take just one piece of candy. If you put out a huge bowl of candy, people are more likely to grab a handful and keep going without stopping.
If you don’t want to invest in your own custom plastic bags, save all the paper and plastic grocery bags you get when you go grocery shopping. Keep them all in a box at home and bring them out to every selling day. Customers will buy more if they have a way to take it all with them!
Always be honest. Be fair and truthful with customers. If you know that an item has a flaw or needs to be repaired, tell the customer before they buy. It’s not OK to be dishonest just because you’re displaying an ?as is? sign. If you get a reputation for being unfair, it will hurt you in the future.

Products and Inventory

Be strategic with inventory selection. Don’t be afraid to diversify. If you’ve been selling bed sheets and pillows successfully, consider adding towels to your inventory for example.
Sample new merchandise. While there’s nothing wrong with sticking to what works for you, place small sample orders with wholesalers to test out different types of products and see if you can build a regular customer base for a new product line.
Visit wholesale industry trade shows to meet companies face-to-face, negotiate deals in person and take advantage of a huge scope of products all under one roof. You can typically source everything you need in one visit to a trade show, from several vendors.
There are many printed sources and wholesale search engines dedicated to helping businesses find product. Some of these publications include: Retailer’s Forum, Swap Meet Magazine, Independent Retailer, Solo Mayoreo (Spanish), Web Wholesaler, Western/Eastern Merchandiser and more. Popular B2B sourcing websites include: TopTen Wholesale, CloseoutCentral and WholesaleCentral. These search engines allow you to enter a search term and find wholesalers nationwide who can provide you with those products.
Appreciate the value of “loss leaders.“ Consider placing high-demand items that may be low profit for you in a very conspicuous place. An example of a loss leader might be a flat screen TV. You may not have a lot of margin on that item, but it will draw people into your booth where they will see everything else you have for sale. Just because something is priced a little too high doesn’t mean it is of no value to you. On the contrary, a slightly higher priced item that is in high demand among shoppers might be the key to driving more traffic to your booth.
Start with at least two pallets of merchandise for variety. If you buy just one to fill up an entire flea market stand, chances are your stand will be bare and won’t attract much attention. The contents of two pallets usually make a much better visual impact and stop customers as they walk by.
Don’t be afraid of broken merchandise. Even if you wouldn’t buy it, our experience proves that others will if the price is right.
Look for merchandise all the time and don’t get lazy. Variety, fresh inventory and staying informed on what customers are looking for is the best way to stay ahead of the competition.
Add holiday/seasonal items to your inventory early enough in the season so you catch the early holiday shoppers who are looking to save money on gifts and decorations.
It is always a good idea to have an inventory worth at least $1,000 – $2000 on hand. You may not need to have all of it out at one time, but it is a good idea to be able to keep you booth stocked throughout the day. An empty booth and sparse tables will turn potential buyers away.
If you are just starting out and don’t have more money available than the cost of the booth, sell your own items that you no longer use and ask your neighbors if you can help them clean out their garage in exchange for a box of their unwanted stuff. This will get you some cash flow that you can then invest in a box of wholesale items to resell the following week.
Avoid bringing huge items like large pieces of furniture, beds or armoires unless you have a delivery service. Most of the customers who visit your booth won’t be equipped to take a very large item home and you may lose out on those sales. If you offer a delivery service, make sure you advertise it clearly!
Some things you sell can also help you sell other things. If you are trying to sell a shelf, put stuff on it. A dish can also hold some smaller objects. It is important to not obscure the items you wish to sell. A flea market table is usually crowded, but remember that every item must be visible to be sold
Always be on the lookout for good deals on all kinds of wholesale products. While there may be a product category that sells best for you, don’t turn down an amazing deal just because you’re not familiar with the merchandise. Do some research, get familiar with it and give it a try? You never know what new customer base you will build for a product you’d never considered selling!

Content provided by Via Trading

Via Trading is a Wholesaler specialized in the sale of True Liquidation Merchandise. They are family owned and have been in the Liquidation Industry since 2002. They are experts in supplying resellers large and small with profitable liquidation merchandise at its fraction of its original cost.

This article and others can be found here: https://www.viatrading.com/hundred-hints-tips-flea-market-success/

CHAMPS IS GOING TO FLORIDA OCT 27TH-29TH

Robert — Fri, 13 Oct 2017 14:13:18 +0000

Champs Trade Shows
818-855-1528
champstradeshows.com
10-12-2017
FOR IMMEDIATE RELEASE

CHAMPS Trade Shows, the oldest running B to B trade show for smoke and vape shops, will be in Orlando, Fl
at the Gaylord Palms, Oct27-29. Anything and Everything for the 420/Vape retailers. No charge to attend. For
more info go to ChampsTradeShows.com or call the office at 818-855-1528.

A GUIDE TO BUYING RETURNED AND EXCESS MERCHANDISE

Robert — Thu, 07 Sep 2017 19:45:22 +0000

What to look for when sourcing returned an excess merchandise.

(aka: how small store owners and resellers can bank on the busts of retailers and manufacturers)

Around $440 billion worth of merchandise is returned each year – a lot of which can’t go back on the shelves. But one retailer’s headache is another’s opportunity, and for online sellers, independent retailers and resellers, there has never been a better time to source returned and excess merchandise on the secondary market.

So, how do you navigate the secondary market to successfully sift through the bad and the ugly to get to the good? Here are some tips on what sellers should look out for when sourcing customer returns and excess merchandise:

It’s best to buy directly from the source

By purchasing directly from the retailer or manufacturer you can assume that there is no middleman involvement and no price mark up. Historically, it has been difficult for small to medium sized buyers to buy excess inventory directly from large retailers and manufacturers; however, today there are new, efficient systems that automate the manual work otherwise required for them to sell to larger buyer groups. One such tool is an online auction marketplace platform. These marketplaces provide a level playing field for all buyers to compete for the inventory, and they enable a direct relationship with the source via a transparent platform. Because they eliminate all negotiation over price, it is just as easy to have thousands of buyers involved as it is to manually sell to just a handful.

Source online from reputable sellers

Independent retailers, online sellers and resellers can often source inventory more affordably and efficiently by tapping into online auction marketplaces that sell returned and excess merchandise. There are numerous benefits to sourcing this type of product online including: greater product availability, detailed product descriptions, bulk quantities at your fingertips, shipping options, and a quick sales cycle. The key is to make sure you are buying from a known brand: many top retailers like Wal-Mart, Target, Costco and Best Buy have their own liquidation marketplaces while others leverage multi-seller marketplaces like B-Stock Supply or Liquidation.com. In the case of multi-seller marketplaces, be sure to use one that has a seller rating system, so you know you are buying from a reputable seller.

Purchasing inventory via these online-auction liquidation marketplaces can be a great way to secure inventory at an affordable, in some cases rock-bottom price, ensuring a better profit margin for you.

Understand what you are purchasing

It always pays to be detail oriented, especially when sourcing returned and excess inventory on the secondary market. Ideally, you will be able to view a full manifest of the inventory, but that is not always available. The key is to make sure you have as much available detail on the product(s) as possible before you buy, including a thorough description, actual image(s) of the inventory, lot size, shipping dimensions and costs, condition codes and technical information, if applicable.

Know your condition codes

Products sold on the secondary market can range from brand new in box to light use to salvage condition. Because this merchandise is typically sold “as is”, be sure to familiarize yourself with each condition category, keeping in mind that different retailers may categorize the inventory differently. A credible seller or marketplace will have a dedicated ‘conditions’ section with thorough descriptions for each of the conditions.

Product condition affects resale value of the item(s)

It’s important to think about what the resale value of the items will be: the better the condition of the item, the more you can sell it for. For example, new without tags will sell for slightly less that new with tags, while an item in its original packaging will fetch a higher price. You want to be sure you can still turn a profit when you break the lots down into individual items, so bid carefully.

Make sure you have access to a constant supply of product

It’s important to have enough product(s) to satisfy the needs of your buyers. By purchasing through a retailer’s online liquidation marketplace or a multi-seller marketplace that is regularly adding new retailers and manufacturers you will be able to ensure a constant, dependable flow of inventory.

Understand the Terms of Purchase

Do your research. Know exactly what you are buying, from whom you are buying, and what their specific policies are. A credible seller will provide thorough product descriptions, images, accurate condition codes, quality customer service and, most importantly, visibility into what the terms of purchase are.

Calculate shipping costs

It is important to calculate shipping costs into your budget. To reduce costs, look for inventory sources that have distribution centers near your geographic region and will either allow you to arrange your own shipping or will provide discounted rates on regional shipping. If you must source from farther away places, look for sources that have negotiated rates with major carriers.

Quantity matters

You’re probably well versed in what the competition is doing and how much buyer demand exists for products. There are some great deals available on the secondary market, and it’s typical that larger lots allows for a lower cost per item, but you don’t want to purchase more than you can sell.

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About B-Stock

B-Stock powers the largest network of B2B liquidation marketplaces connecting returned and overstock/new-condition inventory from top retailers and manufacturers- including nine of the top 10 U.S. retailers – directly to business buyers. Resellers can buy a few pallets to multiple truckloads of inventory across dozens of categories including: electronics, mobile, fashion, home décor, appliances and more.

Secondary Market, the Road to Profiting in Wholesale

Robert — Wed, 28 Jun 2017 20:55:56 +0000

Every year over half a million businesses are created in the United States. Approximately one third of these start-ups are retail businesses. A large portion of these businesses will focus on the “Secondary Market”. This marketplace offers great advantages and high rewards but you need to be well prepared. Finding the right supplier to source products from is critical.

Secondary Market products consist of Closeouts, Surplus Goods, Customer Returns, Liquidated Items, and any product that is not sold after its initial manufacture. Many companies specialize in secondary market purchases and reselling. Resellers might experience some level of unsellable merchandise in these types of wholesale orders but not always. Retailers will be hard pressed to find a cheaper source of merchandise than secondary market items and these products can be a great way to turn a profit.

Working within the Secondary Market is more than knowing just your product niche; you also have to know how to sell products with a variety of quality conditions. Getting creative is essential for moving not only the good products but also the less desirable ones. A good strategy is to start small by purchasing a few pallets and working your way up to buying full truckloads. If buying smaller loads is an obstacle, you might need to consider your source. Remember, where you get your products is just as important as what you get, especially when sourcing surplus goods.

To gain additional insight into this industry we spoke with Michael Lawrence of DirectLiquidation.com. His company represents one of the fastest growing marketplaces for Surplus Merchandise.

“In the past, online liquidators pawned off “as is” and “salvage-grade” merchandise to buyers as the best value available in the wholesale marketplace. Product misrepresentation, low-grade items, and a narrow assortment of tier-2 or 3 brands were commonplace. The ability to purchase small loads or retail-ready products was virtually unheard of. In addition, if you were “lucky” enough to win one of their auctions you could expect a further 7-15% “buyer premium” charge for the privilege of buying their junk inventory. – Michael Lawrence”

Michael went on to explain how Direct Liquidation can solve these problems, they offer buyers an incredible range of products, tier-1 brands sourced from their exclusive relationships with top national retailers and manufacturers. Smaller loads are available so buyers can test customer demand without depleting resources. Having an ability to test demand could be the difference between a good bottom line and a bad one.

Large liquidators buy huge volumes of surplus merchandise and returns for literally pennies on the dollar. They process and sort this inventory and make it available to the smaller buyer. Generally liquidation lots are sold “as-is, meaning there is no guarantee of lot quality and usually no return on purchase. Understandably, this comes with the deeply discounted prices on these lots, typically well below wholesale. But “as-is, doesn’t necessarily mean poor quality. Frequently a large portion of the inventory is in new or like-new condition. Fact is, buyers can and do make a healthy profit reselling this merchandise.

Here are several tips to follow when diving into the Secondary Market.

Source wholesale inventory from well established, financially sound companies

Manifests are GOOD. A manifest is a document that details the products, quantities, and original cost of items. Knowing what’s in a lot prior to purchase has clear advantages.

Always include freight cost when evaluating the profit potential of a purchase.

Licensed or branded merchandise should be inspected, unfortunately the faux product industry shows no signs of slowing. Get samples if possible and inspect to make sure you have the real McCoy.

There are many fish in the wholesale sea. You do not have to rely on one source for your inventory but finding a really good one certainly won’t hurt. Even if you develop a wonderful relationship with a wholesale company, and chances are you will, keep your eyes open to new opportunities and sales offered by other wholesale companies. Use common sense whenever dealing with a new supplier.

GetThatWholesale works with literally thousands of companies, companies like Direct Liquidation that have been pre-qualified allowing our buyers to make a more informed decision. We want you to be prepared so that your business is successful. Rely on your knowledge and instincts of your customers and industry trends to guide you, but keep your eyes open for new avenues of learning such as seminars at trade shows. Remain flexible, penny-wise, and innovative – chances are your store will not only still be in business five years from now, but will have blossomed. We encourage you to always do your market research, the fact that you are here reading this article means you are pointed in the right direction.

Happy sourcing!!

Solving the Customer Returns Puzzle

Robert — Wed, 22 Feb 2017 18:10:46 +0000

One of the key strengths to a successful business in this industry is to be creative with the merchandise.

With customer returned merchandise you will see all kinds of goods come through your warehouse, everything from Electronics, Housewares, Hardware, Toys, Furniture, Clothing, Patriotic items and more. Working with customer returns is more than knowing just your product niche; you also have to know how to sell products within a variety of quality conditions. A truckload of customer returns will not only include a mixture of products but also a variety of product conditions including; new, open box, scratch & dent, shelf-pulls, and damaged items. Getting creative is essential for moving not only the good products but also the less desirable products. A common challenge that many startups have is trying to make money by focusing only on the good items without a plan for the not so good items. It can be very challenging to move products that have missing pieces or have broken parts, but you have to remember there is a recovery value for everything. A successful business will find an avenue for moving all the product types. For example, after you sort through the first truckload you may find several units that are missing pieces. However, on the next truckload you may find the parts needed to complete the incomplete units from the previous load. You could also try combining some of these poor condition products with the better selling items to help move through the inventory. There are endless opportunities and ways to move end of life products. Having more than one resource to move your merchandise will also help you capitalize on each truckload.

If you are interested in purchasing customer returns, I would encourage you to start small by purchasing a few pallets and working your way up to buying full truckloads. Many suppliers are more than willing to work with you in the beginning and then grow as things develop. If they are unwilling to be flexible now you can probably expect some of the same later, try someone else.

GetThatWholesale’s Customer Returns Category is chocked full of dedicated suppliers to this industry. They are all eager and ready to assist, ask questions and do your research before committing and please let them know we sent you

$280 Billion Discount Trade Industry Is Experiencing A Major Shake-Up

Robert — Tue, 31 Jan 2017 20:42:03 +0000

GREGORY GARVIN
MARKETING MANAGER
1-855-493-0073
GREGORY@TIGERTRADE.COM

FOR IMMEDIATE RELEASE

January 27, 2017

TigerTrade B2B Platform Is Revolutionizing Global Off-Price Commerce
Ripe For Disruption, $280 Billion Discount Trade Industry Is Experiencing A Major Shake-Up

NEW YORK, NY – TigerTrade sees opportunities in global demand for bargain hunting getting bigger and faster thanks to its cutting-edge approach to international off-price retail. This technology-focused firm launched a first-of-its-kind, business-to-business (B2B) off-price platform designed to improve the speed and efficiency with which companies can sell their excess inventory to international buyers in new markets such as China, United Arab Emirates and Mexico. As simple as signing up, bidding and completing a transaction, vetted businesses and retail brands can move excess inventory across the world within a few clicks. While globalization has accelerated business-to-consumer methods of purchase, changes in the B2B off-price industry have not seen much innovation or automation – until now.

Tanjila Islam, CEO of TigerTrade, and an International Trade and Global Sourcing adjunct professor at the Fashion Institute of Technology said, “Our mission is to be the trusted end-to-end marketplace for buying and selling wholesale closeout merchandise. We achieve this because we understand the needs of our buyers, we know our suppliers.” Islam continues, “There is a ton of supply and plenty of demand, but it is currently hard for buyers to locate international sellers.” Where she saw a market need, she also saw inefficiencies.

Adding to the complexities, international trade deals involve copious paperwork and huge amounts of money changing hands. To overcome these obstacles to trade, TigerTrade designed its platform as an end-to-end service that includes:

• Knowing the legal requirements for international trade,
• Vetting all buyers and sellers,
• Authenticating and inspecting all products, and
• Offering a safe and secure payment structure.

Islam estimates the overall global demand for off-price purchases is around $280 Billion. In the game of retail, it is all about being in the right place at the right time. As the off-price market booms worldwide, TigerTrade is scaling up to be the first to capitalize.

TigerTrade’s business-to-business off-price platform makes international buying and selling excess inventory easier. The company sells over 27 million overstock merchandise units at any point dealing with clients in more than 50 countries across North America, South America, Europe, Asia and Australia. The TigerTrade platform sells home décor, apparel, footwear, accessories, toys and beauty products. Being an end-to-end platform, TigerTrade navigates the murky waters of international taxes, legalities and logistics to bring inventory from warehouses across the world to interested buyers in just a couple clicks.
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If you would like more information or want to schedule an interview, contact Gregory Garvin by email at gregory@tigertrade.com or by phone at 1-855-493-0073.

Hot Vapes – over 135 tasty flavors!

Robert — Mon, 16 Jan 2017 20:39:52 +0000

2016 showed incredible growth for the Vaping Industry, huge actually!!

Today we are focusing on one company that has become a go-to source for many vape retailers, Hot Vapes. They offer over 135 tasty flavors and test their nicotine to ensure it’s purity. Crafted at their labs in Chicago Hot Vapes distributes a wide variety of e-Cigarettes, vaporizers, mods, clearos, tanks and accessories to vape shops across the US.

If you are not familiar with Vaping you might need to get out more…vaping consists of taking a puff or pressing a button on the e-cigarette. These are often cylindrical, but can come in a variety of styles. Instead of cigarette smoke, the user inhales an aerosol, commonly called vapor. E-cigarettes typically have a heating element that atomizes a liquid solution known as e-liquid. E-liquids usually contain nicotine, propylene glycol, glycerin, water, and flavorings, such as fruit flavors, coffee, or even unique taste blends. So, that’s vaping, and there is a HUGE market of buyers for this industry.

If you are looking to get into selling e-Cigs, or you already sell them but need a new supplier, HotVapes offers great deals on wholesale e-Cigs and e-Liquids.

By the way GetThatWholesale.com just launched a brand new VAPING category dedicated to just vape product suppliers. You can check it out here.

10th Anniversary BIG Industry Show to kickoff 2017 in style!

Robert — Thu, 12 Jan 2017 21:15:41 +0000

FOR IMMEDIATE RELEASE:
California show tipped to be biggest and best yet!

Summary: The 10th Anniversary BIG Industry Show will take place at the Los Angeles Convention Center on January 19-20, 2017. This show will provide a unique forum for connecting investors and new businesses in the fields of smoke, glass, vaping and growing.

Having already conquered Las Vegas, Denver and Miami, the BIG Industry Show is heading to California for the first time in 2017 for its most spectacular event yet. The 10th anniversary show will take place at the Los Angeles Convention Center on January 19-20, 2017.

Presented by Buyers Industry Guide, the BIG Industry Show is one of the most hotly anticipated events each year for business professionals with an interest in the 420 industry. Delivered in partnership with the High Times Business Summit, the show will feature four events in one, with sections focused around smoke, glass, vaping and growing.

The first wholesale buying event of the year, the BIG Industry Show offers more than 100,000 square feet of exhibitors, seminars and information for investors, as well as exclusive networking opportunities for all those in the industry.
California is the perfect place to host this exciting business to business event. Residents’ attitude to Proposition 64, which relates to the legalization of marijuana for personal use, have shifted significantly in the past few years. In 2010, Proposition 19 (the last legalization measure) was rejected by 53.5% of voters. However, a new USC Dornsife/Los Angeles Times poll has found that 58% of voters now back Proposition 64, with the ballot due to take place on November 8.

The 2017 BIG Industry Show will feature anyone who’s anyone in the smoke industry. Also part of the event is Galleria Glass Art Exhibition, which showcases some of the most talented glass blowing artists from around the world, with stunning high end creations blown specifically for sale at the show. Meanwhile, the Vaporize Expo will present training sales clinics and world class suppliers who are at the forefront of innovation in the booming vape industry. Finally, Horticulture 360° will offer agriculture, art, science, technology, and all other business-related elements of plant cultivation.

High Times Business will be providing educational seminars and information for investors and business professionals looking to break into the vast opportunities offered by the California market as part of its second business summit. It will also have a number of booths available on the tradeshow floor for companies to exhibit at. The event follows the highly successful inaugural High Times Business Summit in Washington D.C. in December 2015, which embraced and united the fields of politics, medicine and entrepreneurship.

The BIG Industry Show 2017 will provide a unique forum for connecting investors and new businesses to this massive industry. According to ArcView Market Research, the legal cannabis market is expected to be worth $21.8 billion in total annual sales by 2020, making it bigger than the National Football League (NFL). In 2016, legal cannabis sales are expected to reach $6.7 billion (by way of comparison, the NFL saw $12 billion in revenue last year).

Buyer pre-registration for the 2017 BIG Industry Show is now open. Pre-registered buyers will receive $420 in vouchers to spend at the show.

For the latest information on plans for the 2017 BIG Industry Show in Los Angeles, CA on January 19-20, 2017, visit www.bigindustryshow.com