It is not necessary to invest ample money in order to become an entrepreneur. Start a business that can help you achieve success and become an entrepreneur. How Can you Become an Online Entrepreneur?
Create a robust business plan Know your competition Understand your value Study market extensively Find a good coach Learn money management Be committed and focused Set short term and long term goals Be adaptable as per the market scenario Re-invest your business profits
However, online entrepreneurship is a very vast concept. We can narrow it down for you. How can you make ample money, online?
How To Start Online Reselling Business In India?
Have you ever heard of the reselling business? Evidently, you must have! Reseller business can be incredibly profitable and one of the best alternatives, especially for the people who have entered into business newly. But, before proceeding further, let’s understand profoundly who a reseller is? And what is a reseller business?
Who is a Reseller?
A reseller can be an individual or a company. It is the one who buys goods to resell and make profits, rather than consuming or using them. Usually, resellers purchase goods in bulk from wholesalers and distributors at a lower price and then sell them to the end-user or the places where the product is scarcely available. In modern times, reselling is considered a very profitable business if you have a stronghold on the market. Some resellers add value or mark up the goods they resell by combining related products of repackaging.
What is a Reselling business?
You can choose the product you want to deal in, after considering the product purchase source, and start an online reselling business in India. You can sell anything, and everything in this business, which is why your reselling online shop can venture into different domains without high sending expenses, extra expenses, and costly stock expenses. Some of the online sources from where resellers buy their product include Alibaba, Meesho, eBay, or the local market.
How is the Reselling Business different from Distributorship?
Before we know the difference between the reselling business and Distributorship, let’s understand who is a reseller and a distributor. We have already enlightened you guys about reseller, so to begin with the distributor, here we go.
- Who is a Distributor? A distributor is an intermediary entity between the producer of the product or the manufacturing unit and other businesses or supply chain- which could be a retailer, wholesaler, value-added reseller, or a system integrator. In other words, it is the process of making goods or services available to the business or dealers. This can also be done using indirect channels with distributors.
- Reselling business vs. Distributorship a) Relationship with the Production Unit A distributor has a robust relationship with the manufacturer of the goods or the production unit department compared to resellers. Resellers do not share a strong bond with the producers of the goods as they purchase the products from wholesalers or distributors and sell them to consumers. However, the distributor buys the products directly from the manufacturers in bulk and provides them to the wholesalers, retailers, and resellers. b) Stock Management Resellers do not need to maintain stock to sell the items or to get them exchanged. Whereas distributors physically clutch stock, as they have to buy in bulk from the manufacturers, and need to ensure they have enormous storage capacity and warehousing services to keep the inventory. The distributors hold on, maintain, and manage huge inventory, leading them to competently sell the products. However, resellers do not keep the product in stock as the reselling model is based on a demand-based approach. Because their business model follows this approach, they procure only those items for which the customers have already placed orders. Still, until they get orders, they do not buy any product from distributors or other sources. Also Read: Top 10 Money Management Tips For Beginners
Benefits of Becoming an Online Reseller
- Flexibility of Time
You can carry out reselling business operations from any place, be it your home, office, or even if you are on vacation. All you need is a smartphone or laptop and a good internet connection. Online reselling is very easy to start, as it does not require any previous work experience. Even if you start from scratch as a beginner, you can still do wonders and achieve immense success. 2. No or minimal investment needed
You can hit the ground of reselling business with minimal investment. The sole reason is that you are involved in the purchase and sale process, not in the manufacturing process (which would require you to buy raw material and incur labor costs and many other overheads). You purchase the products from a business source and sell them further to the end-users/customers. You need not undergo any quality control or invest a hefty amount in maintaining your inventory of wholesale products. It is a business with zero investment, so it is considered feasible to start an online reselling business in India. Also Read: 11 Online Jobs from Home Without Investment in India 3. Lucrative business plan
If you do not want to step into the manufacturing business, it is a viable option to start online reselling business in India. 4. Easy to Establish
You can begin selling commodities the same day you start an online reselling business in India. You only need to ensure that your platform, whether it is a website, app, or social media page, is in place and ready to go! Once it is done, after you post the product listings that are up for sale, you start earning and making profits the same day. Of course, it will depend upon the sale of your products. 5. Sell a Wide Range of Products
You can sell multiple product categories that may or may not be related to each other. This is the best part about reselling business that it does not confine resellers with fixed rules. The only thing the resellers need to ensure is that the products they are selling are demand-fulfilling and good quality products. For instance, if resellers start online reselling business in India with jackets, they may also start reselling shirts, denim, jewelry, handbags, watches, cosmetics, shoes, or other products, after experiencing some growth in their online business. Also, you do not require to incur any additional cost, so adding a product to your lists is hassle-free as you pay for the goods you buy from the store and sell to the customers. 6. Set Your Own Profit Margins
Reselling business is all about establishing your own margins. You are free to set the price for your merchandise. However, it is advisable to check your product’s cost on different online platforms and as per industry standards before you fix your product’s final price. 7. Shipping and Fulfilment is not an Issue
Just like other online businesses, it does not involve any fulfillment or transport. This implies you need not ship anything to the customer when you become a product reseller. You must focus on buying the products from reselling websites or apps and selling the items for profit. Reselling business pre-dominantly includes the following aspects:
Receiving the payment from the customer Placing an online order to fulfill it Keeping the gap
Also Read: Difference Between The Marginal & Weighted Average Cost Of Capital
The Process to Start Online Reselling Business in India
1. Finalising the business specifics
Reselling is a far-flung business in which you can deal with multiple products. Thus, it is imperative to consider certain aspects before you start online reselling business in India. Reseller industry The first thing to decide upon is what industry you want to enter while doing reselling. Although there is no restriction and you are allowed to deal in any product, it is recommended to maintain uniformity so, it does not seem odd to the customer. For instance, If a reseller is dealing in electronic items, such as Air Conditioners, Heaters, Fans, Lights, etc, starts reselling other products like dresses, curtains, bathroom accessories, this might not look uniform to the customers. Target Audience Another important factor that should never be ignored is narrowing down your target audience and focusing more on the people you want to target. Deciding on your target audience will help you determine the communication channel, fix the pricing, and develop the marketing strategy. Competition Analysis One can set your policies only after considering the external market factors and a profound understanding of the competition and current business practices. Reselling is a business in which various aspects are evaluated, from branding and tone to pricing and a different range of products.
2. Sourcing the Products
Resellers can get the products in which they want to deal from 2 kinds of sources: a) Local Sourcing Channels Some resellers do not opt for online methods. Instead, they try to find their merchandise locally from their surroundings and sell it nearby their area. Usually, this type of business involves higher margins but lower sales. These channels may vary and could be:
Your abode Flea Markets, Central Markets, or shopping malls Friends and Family Retail Store Clearance Consignment Auctions Facebook or Instagram groups
b) Reseller Apps Nowadays, many resellers trust this method as it is one of the easiest and transparent ways where resellers can source their material. There is an extensive range of apps available in India. One of the best apps is Meesho, providing the best reseller business opportunities in India. The reseller selects a catalogue they want to order. Inside the catalogue, they choose the product they wish to purchase and choose its size and quantity. Once it’s done, they need to add the delivery address, their name, and contact number. The next step is to process the payment and click on Pay Now.’ Congratulations! you have ordered the item from Meesho, and you are a step closer to make money.
3. Setting up a Communication Channel
It is one of the most crucial areas that will conclude how your customers interact with your reselling business. a) Mini- Websites Numerous websites are available that helps in creating a free small-scale website. These websites serve as an e-commerce offering themes and templates. You can build your website with these platforms without requiring any coding skills. Some of these websites include Wix, Instamojo, Weebly, Yola, and many others. b) Blogs Setting up an online reselling platform is made easy by writing and establishing blogs on WordPress, medium, or personalized websites. You can also upload the images, specifications, and other valuable details of your product on that blog. c) Social Media Platforms Leveraging social media platforms to make money by carrying out the reselling business operations is the most feasible and effective strategy one could follow. You can display your products on social media channels and receive orders over direct messages. Also Read: Top 20 Money Earning Apps In India (2021)
4. Effective Marketing Strategy
Your reselling business will remain incomplete if you do not market your product efficaciously. It solely depends upon the reseller what strategies they adopt to promote their product in the market and boost sales. Listed below are some of the marketing strategies commonly followed by resellers:
Offer free doorstep delivery Providing great discounts and offers initially to gain recognition Pricing products lower than the competitors Asking customers reviews, their feedback, and testimonials Captivating messages like ‘ Hurry! last few pieces left,’ or ‘Offer valid till stocks last.’ Referral discounts Making effective presentations showcasing your product features, specifications, advantages, and pricing.
5. Establishing Payment Channels
Following all the steps mentioned above will inexorably attract customers, and they will start buying your products. Once you begin receiving orders, the last and crucial step is processing payments. As you might come across some issues while establishing payment channels, such as late payment, sending payment reminders daily, and accepting payments seamlessly. However, with a consolidated payment setup and high-end user interface, the payments are processed smoothly in no time. Some of the best payment partners for online resellers are Razorpay, Mastercard, Netpay International, etc. Also Read: Make Money from Home in India (With Payment Proof)
5 Best Reseller Business Opportunities In India
There are many business opportunities available for reselling, but out of all, we have jotted the best reseller business opportunities in India after extensive research. We assure you the list we have made will cater to all your troubleshooting needs:
1. Apparels
The demand for clothing and shoes is on the rise in India and all across the globe. It is also expected to grow with time in the future. As per an estimated report in 2017, it was foreseen the global apparel market grew by 5.46 percent as compared to what it was in 2016. A similar growth rate was experienced in the following years till 2020. Moreover, in the coming years, it is predicted that the demand for clothing and shoes will have one of the most potential markets all over the world. Reselling in this field of business can help you make ample money. You can sell these products after you source the products from a distributor or a reselling app. The way of doing reselling business is that once you reach a good customer base, you can increase the product’s pricing in demand. You can also change the pricing during festival time. For instance, the price of ladies suits’ and sarees’ can be increased during Diwali.
2. Beauty and Wellness
Cosmetics and other beauty products are very profitable to outsource. You have a wide range of options; to choose from lipsticks, foundations, nail paint, nail paint remover, etc. You can deal in all kinds of beauty products, be it skincare, hair products, etc. On some products, the profit margins are extraordinarily high. Prepare the list of those items, and start selling them at first. Evidently, the demand for these products is everlasting among young girls and women of all age groups. Therefore, if you start online reselling business in India, consider this reselling opportunity to deal with beauty and wellness products. Also Read: 20 Successful Home Based Business Ideas in India
3. Pet Supplies
Life today is full of stress and anxiety. This has led to an increase in the demand for pets as it is proven that pets, especially dogs and cats, can reduce stress, anxiety, and depression. It can also ease loneliness, improve your cardiovascular health, and encourage exercise and playfulness. You can even tie-up with a wholesaler or a distributor who supplies pets and outsource them to the customers. Many people have started doing this reselling business. Apart from selling canines, cats, fishes, and other pets, people have also started dealing in their food items, including chewable treats, calcium bones, dry cat food, fish pellets, etc. To boost your business, you can tie up with food suppliers and providing good discounts (higher than your competitors) to ensure your business thrives.
4. Vehicle Accessories
It is one of the lucrative business opportunities to start your business with. Dealing in all kinds of vehicle accessories, including automobile seat covers, an iridescent vehicle leaving cards, vehicle audio system, wheel alloys, transmitter, speakerphone, chrome finishing, etc, can help you comprehend the market. Once you get to know what product has the highest demand, start focusing on that product more, and keep going.
5. Jewellery
Whether it is a wedding or it is some occasion, jewelry is always in demand. It depends upon your budget, as some people buy artificial wedding jewelry, or some may buy the most precious one, but almost everyone wears these items on one or the other occasion. Starting with this online reselling business in India is the best you can do. Once you define your line and find startup funding, which may be required if you want to deal with precious jewelry items, finding suppliers is imperative. The next step would be to establish your brand and start marketing. Also Read: 25 Profitable Small Scale Manufacturing Business Ideas in India
How can Reseller Apps Help you Earn money?
Want to find out the best reseller business opportunities in India? You can start the reselling business effortlessly once you download the reseller apps. After installing these apps on your device, sign up with them, and start buying and selling items to profit. You might be wondering what the need for downloading these apps is? The reseller apps make it easier to check the list of all available products to buy and access the best product from reseller companies or the websites dealing in online buying and selling an authentic price. The reselling apps will also help you learn with top reselling programs and teach you through their tutorials on how to start online reselling business in India. Moreover, these apps also create a reseller business model, build reliable and robust customer relationships, and develop reseller marketing strategies.
Most Reliable Reseller Apps in India
Things to Consider Before You Start Online Reselling Business in India?
Which Reseller Products are Most Profitable to Sell?
Listed below are some low-cost products to sell online with high-profit margins in 2021:
Beauty Products TV Accessories Jewelry Kids Toys DVDs Designer Sunglasses Women’s Apparel Kids Formal Wear Men’s Accessories including Waist Belts, Pendants, Personalised Hooks, etc Halloween Costumes and Masks Socks and Shoes Nightwear Outdoor Furniture Men’s Bow Ties and Pocket Square Books Bluetooth Speaker
Is Franchise Resellers Business Profitable?
Many successful franchise reseller businesses prove out to be very profitable. Let’s first understand what exactly franchise resellers’ business is? It is a privilege and authority to utilize a company’s plan of action, brand name, logo, and item for a fixed time frame. A mutual agreement needs to be signed by both the parties (the company and the purchaser) once the purchaser contributes a particular amount of capital to buy the company’s rights and brand under specific Terms and Conditions. The best part about this business is that possibility of succeeding in this business model is relatively high as the brand already has loyal clients, and the purchaser need not spend ample money on marketing. Also Read: Top 20 Franchise Business in India Some of the most successful resellers franchise business in India are as follows:
- Retail Business Franchises
Lens kart Retail Store Lakme Business Store Khadims First Cry Apparel and Clothing
- Food & Beverage Ice Cream Franchises
Amul Scoop Franchises Giani’s Baskin-Robbins
Benefits of Reselling at Franchises
Recommended: Cell Phone Accessories Business Plan – How To Start? The key to success and increasing your earning potential to make money online with a reselling business solely depends on how much time you invest and how robust your customer relationship is. Getting more customers and achieving higher customer satisfaction is imperative to boost sales. Moreover, meeting sales targets will also let you earn bonus revenue. Haven’t you downloaded any reselling app yet? Go for it! Earn commission and profit margin on every order.
