Reselling 101: Your Ultimate Guide to Reselling Products Online in the Philippines

The Basics of Reselling

Below, we’ll cover some of the basics of reselling products online in the Philippines.

• Sourcing
  To get started, you need to find items to resell. Sourcing is the process of finding and buying inventory and is perhaps the most important feature of your reselling business. Inventory can be sourced in a variety of different ways. Depending on your niche, you can hit up the sales rack at retail stores, flea markets, overstock websites, thrift shops, online marketplaces, and wholesale liquidation sites. Be on the lookout for deals – finding good products at below-market prices is crucial to good margins!
  
  But remember, whether you choose selling based on consumer demand or a niche market, you’ll have to invest in inventory. It’s harder to make a profit if you’re only selling a few things at a time, so make sure to stock up! 
  
  
• Selling
  Just getting started? It’s time to plan your online strategy! Fortunately, online marketplaces make it easy and convenient for resellers to get started. On Amazon alone, third-party sellers are generating millions of dollars in sales – you too, can be one of those top resellers!
  
  Most people associate reselling with Amazon and eBay, but it’s also worth considering other online marketplaces like Shopee, Lazada, Carousell (OLX), Zalora, Facebook Marketplace, and more. 
  
  
• Promoting
  As soon as your online reselling business is up and running, you’ll have to start promoting it. Social media is an excellent way to promote your products. You can also consider paying for some ads or having some influencers to promote your products. 

Why Become a Reseller?

Anyone can be a reseller, as long as they’re willing to put in the effort! For some, reselling is just a way to make extra income. But for others, it’s a chance to scale their business into something much bigger. Maybe you’re tired of working a desk job and are ready to take control over your own career. Maybe you’re looking for more flexibility. Maybe you’re a parent looking to make a profit while staying at home with your children. 

There are a number of reasons to become a reseller. From lower business costs to easily sourcing from a broad range of products, you’ll find that reselling products online in the Philippines has never been easier. 

Here are a few reasons why you should become an online reseller. 

• Lower financial risks.
  A benefit to starting an online reselling business is that it carries lower financial risks. This is great for new entrepreneurs or budget-conscious business owners. You won’t have to buy bulk inventory. Shipping fees aren’t as expensive in a reseller business. You only pay for goods as customers order them through your online shop. Thus, the financial cost for setting up a reseller business is low. 
  
  
• It doesn’t require too much time.
  Those who become resellers find that they can run their reseller business without having to devote all of their time on it.  Most of the processes are automated, allowing resellers to manage their business easily. 
  
  
• You can set your own margins.
  When you become a reseller, you’re able to set your own margins – you can choose to price your products any way you want. Since the cost of the goods is low, you can price your products to guarantee your reseller business is profitable. The higher you set your price, the more profit you can make. However, make sure to look at industry standards for product pricing. After all, you don’t want to price your products too high and drive away your customers or price it too low and lose out on profits. 
  
  
• Sell a broad range of products.
  If you become a reseller, you can sell a broad range of products. For instance, if you started out reselling clothes, you can expand your product selection as you grow – you can start reselling shoes, handbags, accessories, jewelry, and other related products. Adding other products to your online shop won’t cost you more money as you only have to pay for goods as customers buy from your store. 

Whatever your motivation, reselling gives you the flexibility to scale as you want, when you’re ready. You can decide how much capital and time you’re willing to invest, and grow accordingly.