One of the most common questions that we get when we’re unboxing items is regarding finding pallets:
“Where do I find pallets?”
“I live in ________. Do you know of a liquidator around me?”
The answer is simple. I don’t know.
The thing about sourcing product is that there isn’t a simple answer to that question. There are so many new liquidators popping up. For example, in our area, there have been at least three new liquidators pop up in our area. It’s impossible to know all of the available sources. Combine that with the fact that you’ll find that products that sell well in my area won’t sell well in yours. Regions in your area may have easily shippable items, or maybe you’ll have to rely mostly on your local market. Maybe you have a huge older demographic, younger demographic, rural demographic… get my drift?
But… if you’re just starting out and you want to start to get the feel for finding liquidators in your area… check out these three simple (simple is a relative term here) steps:
There is a lot about reselling that you need to know. If it were as simple as buying items and reselling them within a week, I promise you this market would be more saturated than it is. THIS IS NOT A GET RICH QUICK SCHEME. This is a business. It requires research, adaptation, determination, etc. Entrepreneurship is a buzz word. But if you want to get in this game and, more importantly, stay in this game, you must always have the heart of a student. Accept the fact that you don’t know everything and once you feel like you do, the entire market will change again. This is the way of life in business. Take it or leave it. That being said, two ways I coach others to finding liquidation pallets are as follows:
On main search engine sites, you’ll find the most popular liquidation sites on the market. These places generally have contracts to purchase large amounts of goods from big box retailers and manufacturers. They play the volume game so the likelihood that these liquidators are cherry picking are slim. However, keep in mind that these are the most commonly shopped places in the market. That means that their demand is higher, and so their pallets will be most affected by the market. With the release of A&E’s new show Extreme Unboxing (premiering Tuesday nights at 10pm EST), they will more than likely be affected by the increased demand and pallet prices will rise.
These sites will give you a better idea of what is available near you. Places near larger cities are more likely to have a larger variety of pallet liquidators in your area. Take a look not just near you, but near your larger metropolitan cities in your area. They are less likely to be affected by the demand increases. HOWEVER, there is a con to this method as well. Local liquidators are more likely to double as resellers. Your chances of purchasing pallets that have been cherry picked are much higher. Another thing to note, is that these places may have purchased their pallets from OTHER liquidators, increasing prices as the number of middle men increases. And even if the liquidator you purchased from doesn’t cherry pick, doesn’t mean that the liquidators THEY purchased from doesn’t either. Make sure, when purchasing, you know the process for how they and the liquidators before them process their shipments.
That being said there is absolutely NO way to eliminate the risk that comes with pallet liquidation and reselling. The more research you do, the better your chances are of finding the right pallets for you and your business.