Is Reselling A Good Idea?
What Is A Reseller? And How Does Reselling Work?
A reseller is a customer that purchases goods and makes profit from the item rather than consuming them.
For example: Individual A buys item from Individual B through social media. Individual B sells this item with an interest. Individual A sends payment to Individual B. Individual B buys item from supplier. The supplier sends item to the address of Individual A.
This process is called dropship reselling. It is a method where the retailer does not keep the goods in stock but rather transfers the customer's order to the wholesaler or manufacturer where it would be shipped directly to the customer.
Pros and Cons of Reselling
Reselling is probably one of the easiest way to make profit online but it's also risky and quite complicated. For example, if you join a reseller program online and you got your first customer, you need to know whether the customer is a legitimate buyer because some customers like to place orders and then the next day cancels their order. Which becomes a problem not just for you but for your supplier.
Also another example: you're looking for an online reselling platform, then you saw a post on a buy and sell group on social media. You came to check if it's legitimate, they claim they are, and then you start posting their items on your wall. When a customer came to buy, you transferred their order to your supplier. Supplier says 5-7 days. The customer pays for the order. It's past 7 days and the customer starts complaining why it's taking long then you come to check on your supplier but you've been blocked.
This is one of the problems of reselling. You won't know if the supplier is legit or not. However you can check their feedbacks on their wall and if it's trusted, it's legit.
I can honestly say that reselling is probably one of the most complicated ways of making profit online, however, I have several friends on Facebook who became successful by reselling online. Reselling is a good start for teens like me but also if you're planning on reselling online, take these advice so that you will have a head start.
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This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
© 2019 Jericho Candelaria