Jason and Will from Buy Low Warehouse explain how new resellers can avoid scams and pick inventory that works. High-value items at steep discounts are rare, and terms like "liquidation" and "customer returns" often mean damaged goods. Start small with pallet orders, vet suppliers carefully, and budget for bad loads.
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Hey there, I'm Jason from Buy Low Warehouse along with Will, our lead sales consultant who helped put this video together. And we wanted to put this video together because we understand that every successful reseller, they started out exactly where you're right now with questions, a bit of uncertainty, and definitely a lot of potential. So in the next few minutes, we'll answer some questions, um, to help new resellers start strong. So with that being said, Will, what are the biggest concerns new resellers have before making their first purchase, and how do we help them feel confident?
So one of the things that we see pretty consistently across the board as people get into the industry is their fear of getting scammed, their fear of what is bad product. How do I know I'm getting the best product for my sales model? Uh, how do I know I'm going to get something that's clean and functional? And the answer is you have to build trust and you have to have a trusted source that can walk you through the different sales types and different product types that fit different business models. Also, vetting your seller, vetting who you're buying from is a big part of that. Look at Google reviews, go into Facebook groups, see what their reputation is. That's a great way to avoid getting scammed. And we're also here to help with that.
And what do you think, like, new resellers often misunderstand about liquidation and how can we help them set the right expectations?
The biggest expectation that I think people have is they're going to find a truckload of PS5s at pennies on the dollar. You see that stuff on the internet, people finding $50,000 watches, and look, that doesn't happen. It has happened one in a million times. I think that understanding and setting reasonable expectations for product quality and product type is the biggest thing to long-term success. And I think that's the biggest misunderstanding. I think industry terminology is also misunderstood. So when someone says liquidation, customer returns, and overstock, there may be some damage, there may be a dirty shirt, there will be some fallout on every truck. It's just part of it. But one of the biggest misconceptions is you're going to get $100,000 worth of retail for $5,000. It doesn't happen. But the more you spend, usually the better quality you're going to get, and the more higher percentage of retail you're willing to pay the higher quality you're typically going to get. So that's something that we try to set expectations with.
And speaking of inventory, how do we guide first-time buyers in choosing the right inventory for their business?
The only way to really help somebody find what fits their business is to learn about their business. I, I can't just tell you what's going to work if I don't understand what you're doing. When I speak to a first-time buyer, or the first time I speak to any customer really, my first question is tell me about you, tell me about your business model, tell me what your goals are. And so as we get through that process of learning about you, learning your sales model, what experience you have, and what your long-term goals are, that really helps us guide you into the right product type that works for you. Sometimes a customer calls asking for something specific, and really once we get to know them, it's not what's going to fit their business best based on our experience. And that's how we guide them through. We let the customer lead the way and let our experience back it up.
Speaking of experience, what kind of advice would you give to a new reseller just so they can have long-term success?
Set reasonable expectations of your return on your investment. Doubling your money is a great thing. You know, if you buy a truck expecting to make 5 times your money, you're probably going to be really disappointed. And start small. You don't have to jump in with a whole truck. Try smaller quantities, maybe 6 pallets of one retailer, 6 pallets of another. And then 6 pallets of another before you jump in and buy 24 pallets and it ends up not being what works best. Because our sales model and our guidance is going to be as accurate as it can be, but what you may find is that you're selling it a different way than you expected to. So when you start small, you aren't putting too much of a risk out there, and you can really learn what product fits you, your sales style, and your business model best.
What about like the flip side of the coin?
Is there—
are there any common mistakes new resellers make and Can you let them know like how they can avoid that?
One of the biggest mistakes is not planning for a bad truck. At some point you're going to get a bad truck. I call it living truck to truck. If a bad truck's going to put you out of business, you probably need to buy something less expensive. That is one of the biggest mistakes I see, or not vetting who they're buying from. Seeing a great deal, jumping on it and getting scammed. Losing $10,000 to somebody catching you off guard is a miserable feeling. It has happened to us, and that's why we know how to avoid it. And we're here to help people know how to avoid it themselves.
So if you could explain, last question, like, how does Bylow specifically support new resellers through the entire process?
So one of the things that differentiates Bylow from a lot of other places is our Make It Right policy. If you get a load from us and it's not as described, if we failed to set expectations for what that load is going to be, We're going to make that right. Now, I would hope that our team sets expectations reasonably and walks you through the process and the product description, but if it do— if they don't, if somebody drops the ball on our end, we're going to make it right. The other thing we're here to do, we're here to provide guidance, we're here to provide experience. Um, happy to share with you what's been successful for other sellers that we deal with on a regular basis who have a similar sales model, or maybe sell a similar product type if you're not sure your sales model. Now we're not going to run your business for you, but we will provide guidance based on the feedback we've received and what seems to be working for our customers who are running successful businesses.
It sounds like starting in resale isn't about getting everything perfect from day one. It's really about learning, adapting, growing even. So I appreciate your time. Our team is always here to guide any new resellers. So whether you need answers to your questions or any type of support, we're here to help you succeed.
