How to Start a Reseller Business: Tips and Ideas for 2024
A reseller business can be a great option for first-time entrepreneurs. With this business model, you don’t need a revolutionary new product idea to start your own ecommerce business. In fact, you don’t even have to manufacture your own products, meaning it’s less of a hassle to get the business started.
Interested? Then read on to learn the meaning of “reseller,” why you should become one, and how to start a reselling business online.
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What is a reseller?
A reseller is a person or company that buys products from different suppliers and sells them to their own customers (usually at a profit). Resellers often provide some value-add in terms of the customer experience, which enables them to mark up the price of the items they sell. This could be something as simple as an in-depth product description, a customer loyalty program, or live chat support.
Sourcing products isn’t necessarily easy and often requires a large capital investment. Resellers are able to navigate this by purchasing products only after they’ve made a sale and have been paid by the customer. Think of reselling as a form of dropshipping, where …