So, you’re just starting out as a reseller, or you’re thinking about it at least. It’s a market worth exploring and whether you’re looking to start a side-hustle or if you’re serious about growing a reselling empire, there can be endless opportunities for you to make some real revenue!
That being said, we understand not everyone has lots of money up front to start their reselling hustle with a bang. Some eager resellers are looking to start their venture with a smaller budget.
We’ve got some top tips to help those with a budget on the smaller end of the scale grow their reselling business.
1. A Realistic Minimum Budget
We know this blog is all about helping you get started with a small amount of money, but we need to be realistic, there is such a thing as ‘too small’ of a budget.
If you’re looking to invest £20 or even £30 and expecting large returns, you might be looking at the wrong market. A budget like this doesn’t give you enough leeway to comfortably purchase and resell sought after products.
Personally, we recommend a starting budget of £70 – £100. That being said, we’ve seen plenty from our community start off with £50-£60 who are now sitting comfortably in the reselling game making some awesome revenue.
2. Start Off Smaller
This may seem like a no brainer, but this tip is actually very important.
We know how tempting it can be to start your reselling venture by looking for the highest-priced drops that you can afford and go for them. We like your ambition, but we recommend slowing it down and going for the lower-priced drops first.
Why? Well to put it simply, you’re giving yourself more control. Starting with these smaller priced items means you can have multiple reselling opportunities all at once, rather than just spending all your money on one item and having to sit on it while you’re waiting for it to become profitable. With cheaper items, you can buy more at first and gradually build up your profits and ultimately your reselling side-hustle.
3. Do Your Research
There are plenty of opportunities to source the sought after products you want to purchase and on a budget, it is totally doable… but it all comes down to research.
Our second tip is certainly a part of doing your research, but you need to take it further and as well as looking for the low costing items, you need to do research for other factors like: How popular the item will be and how long will it take before you can resell it at a decent price. These factors all play into which items you should take the plunge on and try to purchase.
That being said, if you join the community of Aftermarket Arbitrage our team who are on hand 24/7 and the 1000’s of resellers post the latest drops, how much they’re worth and the estimated profit.
So, no research needed if you’re a part of the community!
4. Make A Reselling Account
If you’re serious about reselling but with a small budget, it’s a good idea to make a reselling account. This can be on any social media platform, however, we usually see resellers who’re a part of the Aftermarket community post their items on Instagram.
In the UK, Instagram is a huge platform to resell on. We recommend starting an account as soon as you’ve made your first purchase, that way you can get ready to resell at the earliest opportunity.
If you’re a part of the Aftermarket community and you’re in our discord chat, you’ll be able to meet people who are just like you and are looking to start their own reselling business. Here you’ll be able to make contacts and build relationships. More importantly, you can build your reputation.
If you’re selling with a small budget and you’re looking to make a profit on your purchases fast, you’ll need to build up trusted contacts who can be your reference. That way, people who are looking for what you’re selling will be able to find you and know that you’re legitimate.
Please note, for those on a smaller budget, we are not recommending you join an official buying and selling platform online. This way you can avoid paying transaction and commission-based fees that come as a result of using their site. If you’re looking to avoid all transaction fees, Facebook Marketplace is the platform that will be best suited for you.
We’re not saying these sites aren’t good, but if you’re wanting to save your money to focus solely on reselling, then this is the tip you should follow.
5. Don’t Be Scared To Ask For Help
While the reselling community might get a bad reputation sometimes due to its hostility. The Aftermarket community couldn’t be any more different.
We encourage you to ask for help to get you on your way. Becoming a part of the Aftermarket Arbitrage community gives you access to a team of like-minded, reselling experts who work 24/7 to help you grow and push you to success.
If you’ve not joined the community yet and you’re interested to learn more, why don’t you take a look at what being a member can offer you.