Sourcing refers to the process for acquiring inventory to sell.
This guide will walk you through a variety of ways that sellers use to acquire new inventory to sell.
What Should I Consider when Choosing a Sourcing Strategy?
There are many ways to source products to sell online.
You might try a few options before finding the solution that best suits your needs. Many first time sellers begin with listing items found at home, then seek out second hand inventory from retail settings.
As your business increases in scale, you may outgrow sourcing each item individually and seek larger volume solutions.
Here are some factors to consider:
- What can you afford to source?
- How much inventory can you store?
- How important is the condition of your inventory?
- Do you have experience with collectibles, antiques, technical equipment or other special interests?
- Do you have the time to travel to and from stores or yard sales?
- What types of retailers are in your area?
- Do you want to inspect inventory in person?
- Do you want to choose each product individually or source many products at a time?
- Do you intend to photograph and list each item individually or replenish inventory as it sells?
- What are your expectations for profit margin?
- What is convenient and cost effective to ship?