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How to start Consignment Resale business online to make money for individuals want to quit their jobs and start their careers as an entrepreneur are as follows:
Description of Job
• Accept items owned by others and offer them for resale at tag sales, at yard
sales, and over the Internet.
• Receive a portion of the proceeds from the sale.
The Need
Not everyone is comfortable holding a yard sale outside or a tag sale inside their
home, and not everyone has enough items to sustain a sale by themselves.
The consignment reseller gathers items from multiple sources, consults with
the owner about pricing, and sets up a table at a flea market or yard sale to offer
them for sale.
Another way to sell items is to offer them through Internet auctions and sales
sites.
Challenges
Don’t accept an item if you don’t feel you have a reasonable chance of selling
because of lack of demand or because the seller wants to put an unrealistic price
on it. Maximize your profits by cherry-picking items that will sell quickly at a
good price.
Do not accept items that might subject you to unreasonable liability: very
expensive things, fragile items, guns and other weapons, tools that are obviously
broken, and the like.
Take care to maintain a close inventory of items you have accepted for sale;
each should be marked with a code that identifies the owner and refers to a listing
of the minimum price. You will be responsible for paying the owner if an item
is lost or stolen while in your possession.
Include in your agreement with the seller provisions for return of the item if
it does not sell within a specified period of time. Many contracts specify that if
the owner does not pick up an unsold item at the end of the for-sale period, the
reseller can dispose of it at any price and pay the owner only the reduced yield.
Know the Territory
Search for opportunities to participate in flea market sales or to mount your own
yard sale.
Consider placing valuable items on Internet marketplaces like eBay and Amazon;
in doing so you will be relieved of the cost of advertising, promotion, billing,
and accepting credit cards and other forms of payment. You will have to pay the
Internet web site owner a commission or fee for products you list and sell; this
cost should be deducted from the proceeds before you assess a fee to your client.
How to Get Started
Place flyers and ads in community centers and retail outlets offering to sell items.
Place ads in newspapers and shopping guides.
Promote your flea market or tag sale in the same way, or participate with
others in a general advertisement.
Learn how to use Internet auction and sales sites, and study the sorts of items
they offer to find the best match for the products you will be selling.
Up-front Expenses
The principal up-front costs for a consignment business are advertising and promotion,
plus any fees for participation at a flea market or a tag sale run by an
organization.
If you choose to advertise some of your items on a web site, there may be
expenses associated with setting up the site, hosting, and accepting credit cards.
If you use an Internet marketplace such as eBay, there are no up-front costs other
than computer access to the Internet.
How Much to Charge
Most consignment resellers charge a fee based on a percentage of the selling price
of the item; a typical fee is 20 to 30 percent. Depending on your cost of doing
business, you might ask owners to pay you an up-front fee when you accept their
items for resale, and then deduct that amount from your commission when an item
is sold.
Legal and Insurance Issues
Special notes: In dealing with your client’s property, seek to limit your liability
for damage or loss to the actual replacement value of items in your possession.
You should protect yourself against claims for sentimental value or loss of use.

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