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Sourcing Wholesale, Surplus and Liquidation Products for Your eBay Business

May 1st, 2007 by Skip McGrath

Chad Maslak has come up with the ultimate resource that teaches eBay and website sellers how to make money sourcing surplus and liquidation products.

I have been working on updating my best selling book, The eBay Wholesale Buying System, for the past month. When going through the material, I decided to update and expand the section about sourcing liquidation and surplus products.  In the course of doing my research I came across a wonderful book by professional eBay seller, Chad Maslak.  Where my book has several pages of information on sourcing surplus, Chad has written a whole book on the subject –and it is excellent. 

I contacted Chad and told him I would be happy to help him promote his book if he would do a short interview for my readers.

Skip –  Chad, One of the hardest things for eBay sellers is deciding what to sell.  Now I noticed that your book includes a list of 100 Hot Niche Market Ideas that are ready to use. Can you give our readers some examples of niche markets?

Chad –  There are 100 listed, but there are easily thousands of niche markets where if someone did the research they could find niches to find products in. I choose the 100 listed because not only are these viable niches,  but if someone was to put up a well structured website, these markets would be easily captured as a web presence as opposed to just doing online auctions which is what many people want to do.

Some examples are lumber liquidators. Although lumber seems odd and would be difficult to ship, a right supplier and a local business could do someone well. Wallpaper closeouts, wrecked motorcycles, used bicycles and used tractors are examples of some others. There are also clothing categories such as clothing closeouts, used jeans and wetsuit surplus.

The issue is everyone wants to sell the hot items on eBay that everyone else is selling such as DVD players. WRONG!!! You must change your thinking…

Skip – that leads me to my next question.  It is the one I get asked more often than any other. What kinds of products should I sell?

Chad – You want to find products that people are buying and not necessarily products that you’re only interested in. Don’t get me wrong, you should sell products that you are interested in but you want to make sure there is market willing to buy those products before you purchase them. If you’re into purple pickle toy cars and nobody else is, you’ll have a whole lot of purple pickle cars for your kids to play with.

I’ve sold products that I wasn’t all that interested in but I purchased them to sell because I knew there was good profit on the resale. Determine the potential of the market category and if it’s there, then go for it and if it’s a product you’re interested in, then you’ve got the best of both worlds.

To put it simply… you want to find a niche market where there is an interest and one that people are willing to spend money in. Remember competition is good because it means that there are people selling to that market. You just want to make sure the market is strong enough to support
You; meaning that it is large enough where there are enough people buying where you can make good money. You just want to make sure you sell better than your competition. I give tons of inside information on how to do that in my book.

Skip – Another question I get is “Can I fit this business around my current job?  Are there things that can help me not spend so much time?”

Chad – Yes, I say the best way to start a business is to keep your current job and work as much as you can in your own business when you’re not at work! The reason is because you still have an income coming in before you start making money with your own business and plus it gives you a motivational edge. If you’re hungry for it, you’ll do what it takes.

Most people dream of all the perks of running their own business, but most don’t understand it takes work. You can succeed if you work at it, but you’re dinner doesn’t get cooked until you actually do the work. Having the right knowledge before you do it and the drive and hunger to do it will only greatly increase your chances of success.

I know personally of several people who got into this having a full time job and selling on the side.

Skip – We have all heard of people getting scammed when purchasing from wholesalers.  You cover Red Flags on page 61 of your book. How can my readers tell if they are dealing with a legitimate one?
 
Chad – This is a great question and is one of the first questions people should ask when first getting involved with a company. First use common sense, make sure you have all of their contact info. If you’re on a website and you don’t see a phone number or email address, beware. Test their customer support. Call them ask questions. Beware if nobody answers the phone during normal business hours when you call at different times. Make sure they have a physical address to visit their facility.

Beware of minimum purchase requirements and over-hyped claims of name brand products as ridiculously low prices. You can get great deals, but for instance beware of the guy that says he can get you 250 Sony Cybershot Digital Cameras for $10.00 each. That’s just not going to happen unless someone stole them from Sony.

Other red flags are not being able to inspect the merchandise and charging fees for catalogs or memberships. There are places you can reference on the internet to look for companies that have fraud complaints which I list in the book. I highly recommend you check out any company using these sources before getting involved with them. A complaint here or there shouldn’t be alarming but if you notice a consistent pattern then be alarmed.

Skip – OK.  Let’s get to what everybody wants to know.  Where can my readers find true wholesale, surplus, liquidation products? Do you have a list, and, if so, how is your list any different from the ones that people are selling on eBay for $1.99?

Chad – This is the golden question and the very first one that everyone seems to ask. The internet is bombarded with cheap lists of supposed eBay sources of wholesalers and liquidation sources. The saying goes you get what you pay for.

The problem with these is that most people don’t know that you’re not going to find the major reclamation centers or the really legitimate surplus or wholesale dealers doing a Google search because they’re in the business of selling their products not trying to get ranked in the search engines. You may find some but most of what you’ll find are middlemen looking to sap your profits.

I have been sourcing from the major liquidation centers for years. I’ve scoured the internet looking at as many search terms as I could to find the major reclamation centers and they just don’t appear. In fact, one of the major reclamation centers doesn’t even have a place where you could buy their products through a website! And this is a center that deals with Macy’s, Bloomingdales and other well known retail stores.

I provide the major reclamation sources and legitimate dealers in my book and have revealed how to go about getting an account with them and purchasing from them. This is as direct from the source as you can get. Along with the major reclamation centers, I have also provided a list of hundreds of manufacturers, distributors and other surplus dealers as well.

There are over 700 individual sources and listings but I have also included instruction on how to locate dealers and manufacturers right in someone’s own city meaning that a person will be able to find hundreds of their own sources as well.

Skip – Chad, I want to reinforce your product to my readers.  This is the best, and most complete, treatment of the subject of buying liquidation and surplus goods I have seen in my years of doing this.  Your book, THE ULTIMATE INSIDERS SURPLUS, LIQUIDATION & WHOLESALE BUYING TO RESELL FOR MEGA PROFITS GUIDE is a great companion to my book, The Wholesale Buying System. Between these two resources, readers can become experts in wholesale sourcing for their eBay and web site business. It comes with some really useful bonuses as well.

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