BULQ Reselling Guide

Reselling 102

Reselling 101

Ready to be a reseller? We're here to help.

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Reselling Tips and Terms to Know

Order Fulfillment and Great Customer Service

How and Where to Sell

Reselling 105

Reselling 104

ABCs of Reselling

Reselling 103

Sourcing Pro Tips

Reselling 101

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Reselling 102

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So, You Want to Be an Online Seller

Startup Costs and Required Investments

TIPS

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Resources

ABCs of Reselling

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BULQ’s “Getting Started” Guide to Reselling

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Check out the chapters below to learn how to successfully start, manage, and grow a reselling business.

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How to Source Inventory

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ABCs

Sourcing Pro Tips

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There are countless reasons to go into the reselling business. Maybe you’re tired of working a desk job and are ready to take your career into your own hands. Maybe you need more flexibility. Many resellers are parents wanting to stay home with their kids, and reselling gives them the flexibility to work from home in the evenings. Whatever your motivation, reselling gives you the flexibility to scale as big (or small) as you want, when you’re ready. You decide how much time and capital you’re willing to invest, and grow accordingly.

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4 minute read

Whether you’re looking for a new way to make money on the side or are dreaming of starting your own business, you have something in common with a lot of successful entrepreneurs. Forget what you think you know about entrepreneurs— not all of them have launched giant software companies like Apple or Microsoft. In fact, many have built and scaled businesses right out of their homes by reselling products for profit.

Who Are Resellers?

Reselling is an easy step into entrepreneurship, with many different paths to success. Whether you’re looking to start a small side hustle or are ready to dive in and resell full-time, there’s a way to scale your income to your ambition.

Sourcing

If you’re just getting started, it’s time to think about your online strategy. Fortunately, online marketplaces make it easy for resellers to get started and scale up. On Amazon alone, top third-party sellers are generating millions of dollars in sales. You too, can be one of these sellers! Most people associate reselling with online marketplaces like eBay and Amazon, but if you’re a beginner, it’s also worth considering avenues like Facebook Marketplace, Craigslist, Etsy, local flea markets, or any place where you can find potential buyers.

The process of reselling is simple: You find desirable items for a great price, buy them, then sell them to someone else. When you buy low and sell high, that’s called arbitrage. “Retail arbitrage” is when you purchase items from a retail store — like hitting a big sale at Walmart — and sell it to your own customers for more. “Online arbitrage” is the same thing, except instead of going to a store, you source inventory off the internet.

Sourcing Pro Tips

Kerry Franciscovich, full-time reseller

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So, You Want to Be an Online Seller

Reselling 101

To get started, you’ll first need to find items to resell. Sourcing is the process of finding and purchasing inventory and is perhaps the most important aspect of your reselling business. Inventory can be sourced in a variety of different ways, including from traditional retail and online arbitrage. Depending on your niche, you can hit up the sales rack at retail stores, thrift shops, flea markets, bulk membership clubs, overstock websites, online marketplaces, and especially wholesale liquidation sites. Be sure to be on the lookout for deals—finding good products at below-market prices is key to good margins! Keep in mind, whether you choose to go into a niche market (selling items in a specific category) or want to sell items based on consumer demand, you’ll need to invest in your inventory. For a variety of reasons, it’s harder to turn profits if you’re only sellin a few things at a time, so plan to stock up!

Anyone can be a reseller, as long as they’re willing to put in the work! For some, reselling is just a side hustle. But for others, it’s an opportunity to scale their business into something much bigger.

The Basics of Reselling

Research

What is Reselling?

I love being my own stop-clock and with reselling, I can be.

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Reselling 101

Before you start selling, we recommend reading up on seller guidelines for Amazon and eBay to familiarize yourself with basic marketplace rules and regulations. We also recommend joining reselling Facebook communities to get real-time advice from other successful resellers. And, of course, be sure to check out the BULQ Blog for deep dives on a variety of beginner, intermediate, and advanced reseller topics!

Why Do It?

Selling

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ABCs of Reselling

Liquidation Channels

In-Person

Flipping. Reselling. Online arbitrage. Retail arbitrage. The basic principle is all the same: buy low, sell high. That’s the key to making money selling products you don’t produce yourself. But, how and where do you find low-cost items that others are willing to pay more for? Having a good source for high-margin inventory is the first part of the “buy low, sell high” strategy. However, you’re not limited to just one source for all your inventory. Successful resellers often source from many different places, depending on the type of items they’re looking for.

Brick-and-mortar clearance racks

Thrift stores

Flea markets

Although Facebook forums and neighborhood groups aren’t very reliable as a primary source for flipping inventory, you can sometimes uncover the occasional gem. Aside from a place to source items, seller forums on Facebook are also an invaluable resource for reselling tips and information. To make the most of Facebook, join community groups and keep an eye out for sales that will benefit your business. Craigslist is a great place to source inventory, particularly since some items can be obtained for free. From the Craigslist homepage, simply click on the “free” subcategory in “For Sale.” From there, you can browse page after page of free items in your area that you might be able flip for profit. Similar to brick-and-mortar stores, you can also browse online clearance sections of retail websites to find top quality items at low prices. To maximize profits, resellers who source with this method may choose to use drop shipping to reduce overhead and processing costs when flipping these items to new buyers. When major retailers want to get rid of excess and returned goods, they often turn to liquidators to move large quantities of leftover inventory off their shelves. Unlike a typical consumer retail experience, liquidation channels often provide minimal information about the inventory’s condition and little logistical help. Fortunately, BULQ remedies this issue by offering detailed manifests, flat rate shipping, and buy-it-now prices, which can give resellers more confidence in knowing what to expect with their purchases.

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Craigslist

Sourcing Pro Tips

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Sourcing Options

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Auctions

Yard sales

Online

How to Source Inventory

These channels are just a few ways resellers can stock up on top inventory. However, don’t limit yourself to just one or two familiar sources! Keep your eyes open for new opportunities to find items that best meet your customers' needs.

4 minute read

For most of the country, flea markets are open during the warmer months of spring and summer. These markets offer a huge variety of goods for the patient treasure seeker, with new potential finds arriving regularly. Check out Flea Market Insiders for more information on best practices and how to find a market near you. Similar to flea markets, yard sales are most prominent when the weather is nice. They typically provide great options for home goods, clothing, and toys at hard-to-beat bargain prices, especially since the suppliers are highly motivated to get rid of their stuff. Stay updated on yard sales in happening in your area with Yard Sale Search. Thrift stores are a major go-to source for resellers. You can find designer, brand-new, and vintage items in all departments, usually for a fixed price depending on the store. If you’ve never thrifted before, there are plenty of veteran thrifters willing to share their tips on how to thrift store shop. Physical auctions include (but aren’t limited to) wholesale warehouse auctions, police auctions, and self-storage auctions, which can include anything from art to automobiles. However, auctions are not for the novice sourcer. Oftentimes, you’re only allowed a quick peek at the top contents of a pallet or are told the general category and condition. Bidding also happens very quickly, so be sure to keep track of your potential ROI in the event you get swept up in a bidding war. In effort to clear floor space, brick-and-mortar stores often put huge markdowns on clearance items they want to sell quickly, creating opportunities for resellers to source top items at great prices.

Facebook

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When it comes to sourcing, there are two methods for searching for inventory: in-person and online. Each have their benefits and drawbacks, so read on to see which may be best for your business.

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ABCs of Reselling

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Online Clearance Racks

Mercari

How and Where to Sell

Shopify

Unlike with sourcing, where pulling from several sources often produces the best inventory, when it comes to reselling, there’s some benefit to limiting where you sell. Especially for beginners, you may want to focus selling on just one or two marketplaces to start. Then, as you become more comfortable with the process of listing products, fulfilling orders, and managing customer feedback, you can expand to keep a steady flow of sales (and potentially earn more money).

Flea Markets

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Sourcing Pro Tips

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eBay

Alternative Online Marketplaces

Amazon

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This channel is a must for any reseller looking to flip apparel and accessories. Poshmark’s audience is much smaller and more targeted, which can work to your advantage when trying to sell both new and vintage clothing items. Though not as well known in the U.S., Mercari is the biggest community-powered shopping app in Japan. It’s relatively similar to eBay, but is much more transparent and informal, making it easier to get started. You can even post comments on the channel’s online forum for other users to interact with. For those looking to sell locally, these three channels are great options to quickly and easily reach a bunch of active buyers. Sellers can list everything from clothing and furniture to cars and housing options, and arrange payment and pickup with the buyer on an individual basis. Shopify is great for resellers looking to focus on just selling their products without the worries of managing their businesses. Users can choose how they’d like the platform to manage their payments, orders and more, and when you use Shopify Payments, no transaction fees apply.

An oldie, but a goodie, flea markets have stood the test of time a great way to resell niche and antique items. There are thousands of flea markets across the country, attracting millions of customers and generating billions in sales each year. Since this form of selling takes place in person, there are a few more logistical details to work out, such as registering for and setting up and booth, hauling inventory back and forth, and managing person-to-person payment, so be sure to have a plan for these details before committing.

You’ve figured out your sourcing plan, have stocked up on a lot of great inventory, and are ready to launch your reselling business into the world! But, have you given thought to the type of customers likely to buy these products and where they can be found? Determining the right place or places to sell certain items is crucial to potentially making a large profit. So, let’s explore details of a few popular reselling avenues to help zero in one which ones could be your business’s best bet.

LetGo, Craigslist and Facebook Marketplace

4 minute read

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Although eBay and Amazon are often the first reselling marketplaces that come to mind, there are several other channels that are worth considering in your selling strategy:

Amazon has quickly become many consumers’ one-stop shop due to its unparalleled convenience, and even offers fulfillment services to make your life as a seller easier, too. But be aware, Amazon can restrict new sellers in certain categories (a process known as gating), until you’re proven to be a reputable distributor. Amazon also restricts individual sellers from offering certain name brand products, such as Apple or Beats, so be sure to familiarize yourself with Amazon’s policies before putting all your eggs in this basket.

Originally created as an auction site, eBay has evolved to become a full online marketplace. Individual sellers can set up shop next to major retailers and win sales based on attractive listings, prices, and selection. In addition to auctions, eBay also offers fixed-price “Buy It Now” listings, so consider which option will best suit your strategy.

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ABCs of Reselling

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Poshmark

Sourcing from brick-and-mortar stores can be an all-day process. Some sellers spend between 4-12 hours in one day sourcing, but may only source 2-3 times a month. This estimate includes driving time to these locations, scavenging the store for the best items, and potentially dropping off your haul before hitting the next store. Though it doesn’t require getting behind the wheel, sourcing online still requires a good amount of search time. It takes some sellers 8 hours a week to stock up on new inventory through online sourcing. This includes finding the inventory, as well as researching market prices and popularity of the items. Depending on the condition of the merchandise you purchase, you’ll need to test the items to make sure they are in working order and fulfillment-ready. If your haul is large, expect to spend a few hours testing items before you can begin listing. On average, it can take 10-15 minutes per item to list products that you haven’t sold before. This includes researching detailed product information, writing your description, and providing photos. Amazon FBA is a great option if you’re looking to reduce your time spent listing, as Amazon takes care of the nitty-gritty. After a customer’s ordered an item, it’s time to package and ship it off. If you’re not using a fulfillment service, this is one of the last steps in the sales process (permitting the customer has no issues post-delivery). Depending on where you live and how often you ship, you can typically avoid making an extra trip to the post office by arranging an at-home pickup time with USPS, UPS, or FedEx. Today’s customers are not just purchasing products, but the full buying experience that comes with them. Make sure you’re promptly answering customer product questions, providing accurate shipping and handling times, and addressing and correcting any product-facing issues. Remember, the customer is king.

Chuck Popovich, full-time reseller

If you’ve tried dabbling in online selling and haven’t seen success, don’t throw in the towel just yet. Profitable flipping is not a skill you’re born with, but one that can be developed with practice and practical know-how.

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One of the great aspects of online selling is that you can operate entirely from your own home, which can keep upfront starting costs low. So, what do you need? In addition to the cost of inventory, you’ll want a few basic supplies before getting started:

Startup Costs and Required Investments

Listing

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What Expenses Are Necessary?

Let’s start with arguably the biggest investment you can make to impact your business’s success: your time.

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Specialty hardware

Sourcing Pro Tips

Sourcing (online)

Shipping and packing material

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Smartphone

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Receiving and testing

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Customer Service

Fulfillment

Whether online reselling is just a side hustle next to your 9-to-5 job, or you’re building a larger-scale operation that can become your full-time career, there are some basic commitments all resellers need to make. Based on conversations with resellers of all sizes, we’ve gathered the following estimates for the investment needed to run a successful long-term, but still smaller-scale, reselling business.

Software and service tools

To keep costs low, it’s important to be savvy and scrappy when sourcing both these items and inventory to sell. Fortunately, there are several ways to reuse materials or source packaging material from non-traditional sources. Grocery stores and offices will often give boxes and excess shipping material away for free. Pro tip: build relationships with local stores and offices so they’ll give you a call when it’s time to haul away their leftover materials.

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Printer

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Computer

Reselling is an amazing lifestyle, so long as you can stay true to what you need to accomplish.

This includes (but is not limited to) boxes, envelopes, bubble wrap, tape, and cellophane wrap. Average cost for these items ranges depending on what, how much, and how often you’re shipping, but there are a few simple ways to save on shipping and supplies. Your business will live on your computer, so getting good technology is worth the investment. If you don’t already own a computer, you can purchase a Samsung Chromebook for under $200 on eBay. Smartphone technology that assists with business operations has been a game changing tool in the reselling world. Similar to your computer, you’ll be able to manage marketplace sales, access email, and pay bills (among many other things). You can even source wholesale inventory from your phone with the free BULQ app, which is available for both Apple and Android devices. A printer is more of an optional piece of hardware, but can be useful for printing documents such as wholesale manifests and custom invoices. You can purchase a HP Deskjet printer for about $30. Like most businesses, there is certain hardware that can be particularly useful for maintaining smooth operations. Consider investing in some of these products: BARCODE SCANNER A scanner can make listing a breeze if you’re sourcing deep skus of products like books and DVDs. There are plenty of barcode scanning apps (many for free) available right on your smartphone, or you can purchase a physical scanner for around $10 on eBay. LABEL PRINTER A thermal barcode printer, which doesn’t require costly ink or toner, for making shipping labels is also a worthy investment for most resellers. These can be purchased for around $120. SHIPPING SCALE A scale is essential for determining shipping costs for each product, especially if you’re considering offering free shipping on certain items. You can purchase a scale for about $12 on eBay. There are plenty of services out there designed to help you save time and money when it comes to research. These tools offer assistance in exploring many aspects, including current market prices, product review count, Amazon ranking, and competitor tracking.

Sourcing (in stores)

5 minute read

ABCs of Reselling

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How Much Time Can Reselling Take?

Will I offer free shipping? What fulfillment options will I offer my customers? 1-day? 2-day? Standard? International? Will I offer returns? If so, what is the returns period? Will I refund shipping on returns?

Order Fulfillment and Great Customer Service

Now that you know how to source inventory, manage your costs, and deliver exceptional customer service, we hope that you’re feeling ready to take your online reselling business to the next level. From providing name brand inventory to sharing valuable reselling tips and tricks, BULQ is here to help your business scale and succeed. Visit BULQ.com to start sourcing now, or check out the BULQ Blog for even more resources.

Monitor all feedback

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Sourcing Pro Tips

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Great Customer Service Translates to Increased Sales

Document

Timelines matter

Customers rarely want to experience any surprises during their online buying experience. This means top-notch resellers will always set clear expectations about every step of the process. Many customers will often decide whether to make a purchase based on a combination of what they need and what they want. Perhaps they’ve found the perfect dress on your site, but your shipping costs are a deterrent. Similarly, if they’re looking for overnight shipping and your store doesn’t offer that option, they’ll likely move on to the next seller. It’s critical to clearly define what all fulfillment options are for your customers. Some questions to ask yourself before listing an item include: This list isn’t comprehensive, so be sure to take some time to determine the additional costs for these options and whether these costs align with your short and long-term business goals.

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Plan ahead

Make it a delightful experience for your buyers

Set Fulfillment Expectations

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You know you can make money reselling. You know where to source, where to sell, and how much time and money it can take to run a successful business. But, what do you do when your sales start coming in? Order fulfillment and great customer service are crucial pillars of your reselling business. Read on to learn how to keep these pillars strong by ensuring orders are fulfilled in a timely manner and all customer service needs are met.

Always communicate with the customer

Respond to all customer inquiries in a set time-frame—and advertise it. It goes without saying that a quicker inquiry turnaround will make your customers happier. A seller who responds to a customer’s inquiry in just a few hours will definitely stand out against other competitors who take a few days. While customers value a quick turnaround, people are usually understanding if something comes up that might cause a delay. If this is the case, be sure to communicate with the buyer if things will take longer than anticipated (fulfillment, shipping, deliveries, communication). To save yourself time and ensure a consistent customer experience, document standard responses when answering regularly asked questions to refer back to in the future. Things don’t always go as expected, so it’s always good to plan ahead. Perhaps a customer isn’t satisfied with her order, or a package gets lost in the mail. Whatever the issue may be, have a plan and be sure to communicate the proposed solution to your customer in a timely manner. You might think you’re off the hook once an order has been fulfilled. However, it’s essential to continue monitoring and responding to customer feedback post-purchase. Oftentimes, customers will reach out after they’ve received their purchase to report any issues. Many customers also post public feedback about the experience, so it’s important to monitor these ratings and reviews to see how you stack up compared to other sellers and how to keep improving your customers’ experience. Small details can make your store stand out, so thoughtfully package items before shipping. Some eBay power sellers say touches as small as tissue paper and twine can help smaller-scale apparel, accessories, and health and beauty operations create a memorable customer experience. These gestures are quick and easy, but have the potential to convince your buyer to come back for more.

Studies show that 89% of consumers who experienced bad customer service are likely to turn to a competitor. So, how can you be sure to keep customers engaged during your reselling journey? The key to retaining and attracting customers is creating a great customer service experience. And while successful resellers recognize every customer interaction counts, there are a few surefire ways to take your business to the next level.

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ABCs of Reselling

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Things to Know Before You Go

Don’t Limit Product Options

Sourcing Pro Tips

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Avoid Impulse Purchases

Keep Shipping Costs in Mind

Start with What You Know

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Know the Competition

Sourcing Pro Tips

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ABCs of Reselling

It may be tempting to go all-in on a product you personally love, especially if it can be sourced for a great price. But, before you bet the farm on the latest fad item, check to see the current demand, prices, and number of competing resellers. Just because you’d buy it, doesn’t mean others will. Be aware of the cost to ship the products you want to resell, especially when sourcing large or fragile items. Something like an outdoor patio set may be available for an unbeatable price, but if the cost to ship it is high, it might not be worth it. For fragile pieces, be sure to also think about how refunds and return shipping will impact your bottom line should the products arrive damaged or poorly packaged.

If you’re already a savvy shopper, use those skills to find the best products for reselling. Begin with items you know so you can evaluate their potential value, especially if you have an idea of what people are willing to pay for unique products like vintage bags, video games, or kids toys. As you begin product research, be sure to explore who else is reselling those items. If the market is already flooded with a particular product, you’ll likely have a harder time selling it. Many beginner resellers often make one limiting mistake- they only source brand-new, sealed, in-box merchandise. Instead, take advantage of other item conditions such as “Like New” or “Uninspected Returns” to increase your sourcing options and potentially make a bigger profit.

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Removing or drawing lines through labels, tags, or markings on merchandise prior to resale. Defacing is a common process that some retailers require of resellers when their overstock goods are being sold on the secondary market. (Click here for more information on delabeling or defacing goods) A form of retailing where a producer, manufacturer, importer, or distributor markets directly to an end consumer without the use of a retailer. When a product is discontinued, either by the manufacturer (item is no longer for sale), by the broker or distributor (buyers need to buy from another source), or by the account (i.e. the store(s) are no longer carrying this item). Usually, this is due to slow movement, i.e. slow sell-through. Major retailers with multiple locations often have distribution centers that handle the processing and handling of items. Rather than shipping directly to each retail store, the provider of the product will ship items to one of these facilities, which then pass specific quantities of the items to each designated retail store. A supply chain management method in which the retailer does not keep goods in stock, but instead transfers the customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.

Sales Rank

Distribution Center

A box size used for storage and shipping bulk quantities of items. On BULQ, these can be purchased one at a time and are 4x4x4 feet in size. A new grouping of items launched by a reseller, either seasonally or annually. A collection may also be a grouping of items that fit together thematically or can be sold as a set. The state of being an item or set of items is in when being purchased. Condition names vary based on selling channel - however, most commonly used terms include: New, New Other, Used, Manufacturer Refurbished, and Seller Refurbished. The cost of a unit of inventory, calculated using the cost of raw materials and labor used to make a product.

ASP (Average Selling Price)

Direct Marketing

Profit

Ungating

Cost of Goods Sold (COGS)

EAN (European Article Number)

Collection

Overstock

Resale Certificate

A restricted selling category on Amazon. Amazon sellers are able to become ungated in certain categories by submitting a request through Amazon and demonstrating to Amazon that they are a reputable distributor. (Click here for more information on gated merchandise on Amazon) A pallet-size box used for storage and shipping of bulk quantities. The term “pallet” is often used in place of “gaylord.” A globally unique 14-digit number used to identify trade items, products, or services. GTIN is also an umbrella term that refers to the entire family of UCC.EAN data structures.

New With Tags (NWT)

Drop Shipping

Exclusivity

Minimum Advertised Price (MAP)

Listing

A FedEx® service ideal for low-weight shipping for residential customers. By utilizing the U.S. Postal Service® for final delivery, FedEx SmartPost reaches every U.S. address, including P.O. boxes and military APO, FPO and DPO destinations. Resellers can also use FedEx SmartPost to ship to Alaska, Hawaii and all U.S. territories. The number in parentheses next to an eBay seller’s username, also located at the top of their Feedback Profile. Next to the feedback score, one may also see a star. A feedback score of at least 10 positive ratings earns a seller a yellow star. The higher the feedback score, the more positive ratings a member has received. As a seller’s feedback score increases, their star will change color, all the way to a silver shooting star for a score above 1,000,000. Unique identifiers assigned by Amazon to products stored in and fulfilled from Amazon fulfillment centers. Shipping for relatively large loads or freight. A full truck load of merchandise improves the utilization of trucks and reduces transportation costs, the number of deliveries, the risk of damage, and the impact on the environment.

Private Labeling

Lead Time

Thrifting

To offer a good or service at a price that is deliberately set below the price charged by competitors. The act of gaining approval from Amazon to sell in certain categories. While some categories are, by default, ungated, others require Amazon’s Seller Central team to intervene and grant access to sellers. (Click here for more information on Amazon’s gating policy) Items that range in condition from Brand New to Salvage. Some items are in working order and are retail-ready and functional, while some are not functional. These items may have cosmetic issues, including dents, scratches, and signs of age, use or handling. These items often do not come with manuals, accessories, parts, and may have incomplete sets. Uninspected Returns items may or may not ship in original retail packaging, which may show signs of wear or have stickers or labels denoting the name of the retailer’s liquidation program. A uniquely assigned 12-digit number used for tracking trade items in stores.

On eBay, ‘Best Offer’ is an option available for ‘Buy it Now’ listings that allows customers to make their own price offer on that item. The seller can accept, decline or counter-offer the proposed ‘Best Offer.’ Items have never been opened, are fully functional and retail-ready. They possess all manufacturer advertised qualities and features. These items are shipped in original retail packaging, which may show signs of wear or have stickers or labels denoting the name of the retailer’s liquidation program. These products can include overstock items, excess inventory, closeout merchandise and shelf pulls. In contrast to auction-style sales, BIN listings are priced and paid for at a rate set by the seller. The practice of retailers negotiating for a reseller to accept any unsold inventory and provide a refund.

For those getting started in reselling or taking their business to the next level, the chances of running into an industry word you may not understand can be pretty high. That’s why the BULQ team has compiled a list of words we believe are worth knowing, from A to Z.

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Sourcing Pro Tips

A detailed list of items within a container. Depending on the supplier, manifests may contain product information such as Product Name, UPC, ASIN, and Original Retail Price. (Click here for more information on how to read a wholesale manifest) The price established by a manufacturer or distributor that they do not want their product to be sold for less than. The difference between the price at which a product is sold (revenue) and the the actual cost of producing or obtaining and providing an item. A margin might also refer to the difference between the price a retailer pays for an item and what she sells it for in her store. The dollar amount or percentage change between a wholesale and retail price. A large box that is used to pack multiples of single items. Otherwise known as master cases. (Click here for more information on master packs) A series of numbers and/or letters that has been given to a part by the manufacturer. An MPN identifies the part as belonging to and originating from that one manufacturer. Each part the manufacturer makes has a different MPN. The amount of money the producer of a product recommends the product be sold for in retail stores.

Markup

Retail Arbitrage

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Amazon FBA (Fulfilled by Amazon)

Pallet

Buy Back

Scratch & Dent

When a reseller purchases items online—largely from liquidation sites like BULQ.com— and sells it to their own customers for a higher price. The estimated list price when a product was first released to market. Original retail is based on the condition of new, does not reflect offers of non-new conditions, and does not include offers with discounts, rebates, or other price adjustments. Original retail may not necessarily represent prevailing offers in current marketplaces. Inventory in excess of demand or requirements.

Brand New

Feedback Score

Inspected Returns

Stock Keeping Unit (SKU)

Goods that are sold in large quantities to be retailed by others.

Gaylord

Promo, Discount or Temporary Price Reduction (TPR)

Return on Investment (ROI)

Manufacturer’s Suggested Retail Price (MSRP)

Amazon service in which sellers send their items to an Amazon fulfillment facility. Sellers create the listings and Amazon takes care of shipping the items directly to consumers on their behalf, for a small monthly fee. A 10-character alphanumeric unique identifier assigned by Amazon.com and its partners for product identification within the Amazon organization. The average price at which a particular product or commodity is sold across channels or markets. In contrast to ‘Buy it Now’, auction-style listings allow buyers to bid on a wholesale lot for purchase within certain time constraints.

Brand new, unused, and unworn condition type (including handmade items) in the original packaging (such as the original box or bag) and/or with the original tags attached.

A permit that allows sellers to resell merchandise legally, and to buy merchandise, without paying sales tax at the time of purchase. These are required in certain states. The act of buying a desirable item for a low price and then selling that item to another buyer for profit. The simultaneous buying and selling of securities, currency, or commodities in different markets or in derivative forms in order to take advantage of differing prices for the same asset. Consumer goods that were returned to the original retailer. Some items are in working order and are retail-ready, while others are not fully functional. These items may also have cosmetic issues, including dents, scratches, and signs of age. The amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income. (Revenue = price at which goods/services sold x number of units sold). A profitability measure that evaluates the performance of a business by dividing net profit by net worth.

Full Truck Load (FTL)

Evergreen Goods

GTIN

Uninspected Returns

Fulfillment Network Stockkeeping Unit (FNSKU)

Manifest

Liquidation Inventory

ASIN (Amazon Standard Identification Number)

Online Arbitrage

Discontinued (Disco.)

SS## and FW##

A number in the product description of every category that aims to capture an item's popularity. Amazon sales rank takes into account the period of time since an item last sold. Items that are non-functional, have substantial cosmetic defects, and/or have stickers or other markings on them. Generally, these items either need extensive repair or are used for parts. These items rarely come with manuals, batteries, chargers and/or supplementary accessories. Additional product information may be available in the condition notes on the manifest. Salvage items may ship in non-retail packaging. Items that have been professionally inspected by BULQ.com technicians and found to have cosmetic issues and/or functionality defects. We cannot guarantee that these items will be fully functional. These items often do not come with manuals, batteries, chargers and/or supplementary accessories. Additional product information may be available in the condition notes on the manifest. Scratch & Dent items may ship in non-retail packaging or have stickers or labels denoting the name of the retailer’s liquidation program. Overstocked goods that have been displayed for sale in a store or online but have never been purchased by a consumer. A unique identifier for each distinct product and service that can be purchased in business. An abbreviation for spring/summer and fall/winter of the upcoming year. These refer to the seasons when items are being produced and sold according to the traditional industry calendar, which is six months ahead of when the products are to be available in stores.

Defacing/Delabeling

Case

International Standard Serial Number (ISSN)

Original Retail

A system used for product identification where the UPC was first used and is still used alongside the EAN. This system was used initially in Europe, but has since expanded to most of the world and increasingly within the United States. The two systems, UPC and EAN, have been made to work alongside each other. Goods that are not seasonal and can be in demand throughout the year. Evergreen items include products like light bulbs, laundry detergent, cookware, etc. When a manufacturer, sales representative, distributor or other supplier enters into an agreement that limits the number of retailers or other suppliers that may carry a certain product, or product line, within a specified geographic area or types of stores.

Condition

Undercutting

Like New

Point of Sale (POS)

Best Offer

FedEx SmartPost

Returned Goods

Master Pack

‘Buy it Now’ (BIN)

Salvage

Customer returns that have been tested, either by the retailer or a third party, and given a condition grade. An eight-digit serial number used to uniquely identify a serial publication. The ISSN is especially helpful in distinguishing between with the same title.

Revenue

Manufacturer Part Number (MPN)

Ticketing

Gated

Shelf Pulls

UPC (Universal Product Code)

A flat transport structure that supports goods in a stable fashion while being lifted by a lift-gate. The point at which a retailer receives payment from the shopper. Often synchronized with software or some system for tracking inventory, returns, etc. The practice of another company hiring a designer to develop a product under its brand name. The seller’s branding is not included in the final product or packaging. Also known as “white labeling.” A financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity. Any profit that is gained goes to the business's owners, who may or may not decide to spend it on the business. (Profit = Total Revenue - Total Expenses)

Auction

ABCs of Reselling

Reselling 103

Shopping at a thrift store, flea market, garage sale, or a shop of a charitable organization (e.g. Goodwill), with the intent of finding interesting and unique items at a low prices. Labels with relevant product information affixed to merchandise. Also known as hang-tags. An offering by manufacturers to wholesale buyers on a quarterly basis or twice a year that encourages buyers to stock up on inventory, bring in new products, and also pass on the savings to the retail consumer.

A seller’s estimated production time, or how much time a seller will require before being able to deliver goods to a retailer. Items that are fully functional and retail-ready although they may show cosmetic defects. They may possess multiple price tags or stickers and have come into considerable customer contact. These items may not always come with all manuals and/or supplementary accessories or parts. Like New items may or may not ship in original retail packaging, which may show signs of wear or have stickers or labels denoting the name of the retailer’s liquidation program. The goods that a business sells, often times in large quantities, to a liquidator. The liquidator often pays a lower price for the products, but will take possession of them and pay for them immediately. The ad or page on an online marketplace that contains a description of the item(s) being sold, the shipping and payment terms, and seller information. Buyers view a seller’s listing to decide if they want to bid on or buy their item. A group of similar or identical items that are offered for sale together.

Reselling 105

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Reselling 101

Wholesale

Reselling

Margin

Lot(s)

ABCs of Reselling