This is part two of our interview with Joe and Jessica from The Family Flips. You can read the first part here where we talk about how they started, is it hard to raise kids and running their own business, and YouTube channel reviewing liquidation lots! Don’t forget to read it.
How do you find working with 888lots?
We were looking for new sources as we were growing the liquidation side of our business and came across 888Lots in New Jersey online and the website looked promising. We decided to try it out ourselves!
Please tell us what do you think about 888Lots?
We love 888 Lots! The truth is, liquidation reselling is a risk. Even with our experience, we do get “bad pallets” and “bad lots” from time to time. We have purchased many lots from them, and have had great experiences.
The quality of the product is excellent. Everything is manifested. For the experienced reseller, it’s a great way to supplement inventory without huge risk, and for the new reseller, it’s a great way to get quality inventory if you’re not sure how to vet liquidator companies yet.
The best part is, your first 888Lots order is 50% off, so you can try it with even lower risk, and then each purchase after that allows you to speak with a representative and negotiate prices. It’s really a great deal.
What is your most preferred type of inventory for reselling?
We love trying new things, and are always looking for new and interesting items to resell. Our business model is find items that sell quickly and ship efficiently. We have tried many departments—electronics, automotive, health, beauty, toys, and even general merchandise!
We love trying new things, and are always looking for new and interesting items to resell. Our business model is find items that sell quickly and ship efficiently. We have tried many departments—electronics, automotive, health, beauty, toys, and even general merchandise!
We try not to squeeze pennies out of our merchandise and want to sell them quickly so we can get new merchandise in a constant flow.
Where you sell your inventory? If I am a customer where I can buy the inventory you are showing in your videos?
If you’re interested in purchasing the items that we unbox on our channel, you can find us on our website and eBay store
As an experienced reseller, can you give some bits of advice to the people that are just starting?
We have learned a lot along the way of reselling, and we share our knowledge freely because we don’t want others to make the same mistakes that we did. There are plenty of new mistakes to make! Expect that you’re going to make mistakes, because that’s part of the business. But, knowledge and research can really help you in the long run. Here’s some tips:
- NEVER use your rent money/light bill money/grocery money on buying liquidation. If you don’t have money to spend on buying right now… start by selling things around your house. Everyone has DVDs they don’t watch, books they don’t read, jeans they don’t wear, kitchen items they don’t use… etc.
- Sell them on the platforms you want to use. This way, you can get used to each platform, how it works, shipping processes, and all the processes that come with using that platform BEFORE you have the pressure of listing and selling bunch of merchandise you’re trying to turn a profit on.
And More Advises:
- Once you’ve earned enough money selling those items, use that money and reinvest it into some lots, such as the ones on 888Lots. 888Lots is much lower in risk and from what we’ve seen, pretty accurate manifests. Purchase lots of items that you’re familiar with (whether that be toys, automotive parts, health and beauty, etc) so that you’re not having to research items you really don’t know anything about. It saves time. Once you’re established, it’ll be easier to learn new departments.
- One of the biggest mistakes I’ve seen with new resellers, is that they buy with their emotions. Buying liquidation is a strategy game. BEFORE you purchase an item, think: how can I sell this item? How much will each item sell for, and how much is shipping? Will I make a profit knowing how much it will cost for me to list and ship this item? Is it enough for me to make a profit and purchase another lot? Have a plan first, then purchase according to that plan.
- Sometimes, your plan won’t work out. That’s when you get to be creative and think of new ways to move those items. It’s a puzzle, a strategy game
- HAVE FUN. This is a rewarding experience with lots of problems to solve. Your business is yours and it won’t do to just copy someone else’s model. You can make this your own.
- Don’t be afraid to start, expect that you’ll make mistakes, and know that you’ll learn from them. Not only is it rewarding, but it’s absolutely PROFITABLE.
Good luck! Happy selling!
This was an interview with our lovely friends from The Family Flips – Joe And Jessica! We are really pleased to be able to work with such good partners!
888Lots is a liquidation website company fully optimized for amazon sellers and providing you with all information you need about the products you are selecting to buy – detailed manifest, product pictures, ASINs, and even direct link to Amazon to check the price on the product there!
Aaaand did we mention the price? Yes, Great Prices as well!