How to make money by turning over pallets
People are constantly looking for extraneous hassles that can give them a different stream of income, and making money by flipping pallets is a good place to start. Flipping pallets is a side fuss that can be done with relatively little money and time investment. You can start with lower priced smaller pallets and move on to larger, more expensive pallets if that seems like a good income stream to you.
What is a pallet?
Not to be confused with the wooden types, the pallets we are talking about are a collection of retail products. These pallets are sold to consumers because they cannot sell products, they are more retained for a variety of reasons:
- Items in the pallets were returned by customers
- The contents of the pallets are not sold in the current market
- Items could be damaged during delivery, so cannot be sold to customer
In the UK, the return of goods costs retailers in the UK about 60 billion pounds a year, so it makes sense for them to try to recoup some of these losses by selling palettes to consumers. Palettes often contain a variety of items, but you can only get palettes from clothing, stationery or electronics.
What is pallet flipping?
Simply put, flipping pallets is about buying a pallet of unused or returned goods from a retailer and selling them at a profit. Most pallets contain products worth thousands of pounds per share of their original cost. But keep in mind that buying these pallets can be risky, you don’t often know what they will contain, so it’s best to buy from sources that can be found. Even then you may have a pallet full of broken goods, but some will be full of perfect products that just aren’t for sale.
How to find a pallet
Pallets can be a great initial investment, so it’s best to do some research before buying them. We have put together a collection of where to look for palettes.
Liquidation websites are similar to pallet wholesalers, they buy a few large pallets and break them down into smaller pallets so customers can buy them. There are many different places of liquidation in the UK, but here is a list of some of the most famous.
Catalog of Marthill sales and surplus on the street, clearance of stocks, and customer profits. Pallets are divided into bathrooms, stationery, electronics, etc. or as mixed pallets. One of Marthill’s professionals is that they list the contents of the pallet so you know what you’re getting and how much the product was originally sold at retail.
Merkandi is another online wholesaler that not only sells surplus stocks and profits, but also undelivered packages from eBay, Ups and more. Undelivered packages have unlisted content – think of it as adult happiness. If you want to be amazed by the content and not sell one particular thing, this may be the site for you.
Unlike some sites, UK Stock Supplies lists individual items for sale from universal bath legs to 600 mixed doors, each finding something for themselves. This site is especially good if you have a store in stock, because you can buy products that are best for you.
Online auction sites
eBay does sell mysterious packages as well as pallets, but they are risky, some lists are only for a list of websites that deal with inventory. Also, many mysterious packages may seem too good to be true (perhaps because they are). If you want to buy pallets, stay away from sites like eBay and Facebook, and look at online auction houses instead.
William George retains technique, fashion and more from John Lewis. Although pallets are returned to customers, they often have good value for money, and pallet prices start at £ 5. But, as with any auction, prices will rise because of the bidding war, so it’s best to have a limit in mind and stick to it. Also keep in mind that after the purchase there are additional fees, so they need to be considered in your budget.
How to make money by turning over pallets
If you want to make money by turning over pallets, you have to work hard and know that not everything will sell overnight. To set yourself up for success, you need to follow a few simple steps:
Buying pallets is not as easy as buying and selling right out of stock, there is an element of randomness. When buying pallets, you need to stick to what you know. Let’s say, for example, you’re an avid gardener, it would make sense for you to buy a gardening tray. By buying items you are already familiar with, you can cut back on some research that you will have to do because you may know the approximate prices of the items.
Be aware that not everything will be sold overnight – if your pallet contains items that have not been sold, chances are they are seasonal. No one wants to buy grass seeds in the winter, but someone may need a blade that is in the same tray.
Research is your best friend when it comes to flipping pallets, especially before buying a pallet. If you can access a detailed list of pre-purchased pallets – it’s great and makes your life much easier. If not, study the products yourself, look at the retail price and how much they sell on other platforms. Knowing the approximate resale price will help you decide whether to buy a pallet, you don’t want to spend a lot of money if you don’t get a refund.
Keep an eye on the products
Pallets are full of products, so you need to be aware of what you have and where. It’s a good idea to keep track of a few details.
- Product name and brand
- Description of goods for resale
- Condition of goods
- RRP and resale price
- Whether the item is listed and on which site it is
- Or for sale
- Quantity of product sold
Tracking them will help you stay on track and make it easier to determine your return on investment.
Know your trading platforms
Although eBay and Facebook Marketplace were not your friends when you purchased your pallet, they are intended for resale.
As the largest online auction, eBay is a great option for sale. This allows you to reach out to potential customers around the world without leaving home. Give the product a good description and honestly about its condition, and you are sure to sell quickly.
The Facebook market is great if you want to sell locally. You can list your items for sale in the local area and give buyers a chance to pick them up – this is especially good if you have large items. Like eBay, you just need a good description and the items will be sold out.
Know that you will have to work with your feet
So you have a pallet and your goods are on the resale list – so what now? We will tell you if you offer shipping, you need to research it. What is your cheapest option? What is the best way to transport your belongings? As for shipping, you have many options.
- Post Office – Prices for small parcels at the post office start at £ 3.20 for 2and class mail delivery with online delivery confirmation. A parcel of an average size of £ 5.30 for 2 peopleand. When you accept parcels, they weigh and measure your belongings to ensure you get the right delivery.
- UPS – UPS is great if you ship goods overseas, you can ship them from the front door directly to them. It’s expensive, so you have to ask them to pay for shipping.
- Hermes – Next day delivery in a small package starts at £ 3.55 at Hermes if the item is delivered at ParcelShop or in a locker. This is a great option for next day delivery, but make sure you have a place where you can leave.
So you’ve done all the research, planning and sales now? You are waiting to see if your investment has paid off. When flipping the pallet, you have to keep in mind the ultimate goal. Ideally you want to earn the amount of money you spent back and then an extra income of 100-200%. Let’s say your pallet cost you £ 100, you want it back and then another £ 100 on top to give you 100% profit.
If you want to take the time to flip the pallet, it’s worth a try – it takes effort, but you can see a great return on investment.