Knowing what NOT to sell online is as important as knowing WHAT to sell online.
Every week I get emails from people asking me whether or not they should sell a specific product.
99% of those emails ask about the same products:
1. Name brand electronics
2. Designer handbags
3. Designer shoes
4. Designer clothes
5. iPods, iPhones, iPads
– Some people have been beating their heads against the wall for months trying to find a source for these products.
– Others have lost thousands of dollars, unknowingly buying FAKE “name brand” products.
– And at the same time putting themselves in potential hot water with the law.
– Still others have paid hundreds for “secret lists” of sources that turned out to be scams.
Here’s the bottom line:
– The profit margin for name brand electronics is 3-8% IF you’re a big company like Best Buy and can place $100K orders at a time.
– Name brand companies (electronics, designer brands or otherwise) will NOT sell directly to you because you don’t have a physical store and $100K for a minimum order.
– YOU can’t tell it’s not a fake, even if you think you can. Tags, labels etc. mean nothing. U.S. Customs has highly trained and sophisticated monitoring techniques and many times they can’t tell if the merchandise is fake.
These are the rules of the game with the big name brand companies and product sourcing.
This knowledge can save you many hours of frustration and potentially thousands of dollars.
But for some of you, it’s also dashed your dreams of selling these kinds of products.
– The good news is that there are millions of other products to sell and profitable niches to sell in.
If you’re ready to start doing some REAL product sourcing – selecting products to sell that people want to buy AND that you can actually source…
P.S. Inventory doesn’t have to be “sexy” to be profitable and in-demand.
– Each year 10 million people replace their old toilets with the new high-efficiency water-flow toilets. It’s a hot product.