Trying hard to think of a product that you can afford to purchase to then on-sell at a profit?
Or have you seen some of these products advertised on Instagram and are wondering where they get those products (and you see the huge mark-up on them)? Well not to be a party pooper – but we show you exactly where the stockists get their products from – and you can too!
What Makes a Good Product to Sell Online?
When considering a product to sell, ensure you calculate the total costs to you as a business and how much money you will make for every product you sell.
If you look at the most prolific sellers on platforms such as Ebay or Instagram, they tend to stick to the one range of products – and do that well rather than having a large range of products.
Costs you have to take into account include:
- Actual cost of the product to purchase
- Shipping costs to get it to you
- Packaging Costs
- Shipping costs to your customer (do you add shipping or include shipping)
- Any insurances you might need
- Marketing and Promotion Costs
- Insurance Costs
Low Cost Products with High Profit Margins
Below is a list of the hottest products that don’t cost a whole lot to purchase – but you can re-sell them for as much as 300% markup in price! That’s pretty decent and gives you a head start when it comes to starting a new small business.