How To Buy Pallets From Genco
Liquidation pallets are big business.
With this, you're probably wondering where you are able to locate them. Generally, you can get liquidation pallets from retailers, you can purchase them at auctions, both online and off and you can get them from independent sellers locally or on the internet. This article will discuss how to buy pallets from Genco and other wholesale pallet providers.
The online way
To be able to find pallets at the best prices, one has to first register with Genco Marketplace. Much like any wholesale website, with Genco, you must register on their website www.gencomarketplace.com.
With Genco auctions you will observe prices offered and can choose to purchase or not, instead of auction sites like B-Stocks that enable you to bid any offer and whether or not it happens to be better than the other offers, you will win at that price. The wholesale price of the pallet is usually fixed, and the sum of merchandise may vary substantially. The conditions of the returned products Genco sets up for auction can range from customer returned, refurbished products, visible box damage products or scratch and dent products which are not tested.
Let’s assume you find a good deal pallet from www.merchandizeliquidators.com which contains Garmin smartwatches, Sony GPS devices, and Samsung exercise bands. Usually, if you're looking for pallets or even truckloads of merchandise, buying pallets from Genco may be an inexpensive way to receive them. Usually, when you purchase a pallet you will get the prior season’s technological features.
For example with the smartwatch stock, it may include an older model Garmin ForeRunner and not the latest 2017 Apple 3 watch. As stated before, higher value pallets are going to have a wide variety of products and thus you are more inclined to earn a profit from them. Based on the size of the product that you are bidding on, wholesale pallets can vary from a handful of units to a couple hundred in quantity.
Why buy liquidation pallets from Genco?
Genco is one of the world’s biggest wholesalers of customer returned items. They have a massive range of liquidation goods including general, apparel, electronics, garden and home furniture and sports goods.
Some of the pallet shipments even consist of manifest documents, listing each item inside the pallet. The goods aren't sold in any sort of original packaging. These goods continue to be in good shape and can be resold as brand new products. Wholesale pallets are a fantastic way to earn money and grow your organization, as it provides you the simplicity of receiving big amounts of products at once for low prices that simply wouldn't be possible otherwise.
For example, one pallet available on the Genco marketplace we saw contained several Lawn Master electric lawnmowers. At the advertised fixed pallet price, one could see that this would be a good buy. Another pallet had six adult-sized bicycles with well-known brands you see in Walmart like Mongoose and Huffy. If you factor in the resale value of these brand names you might be up for a winner as well.
Things to look out for when bidding on auctions for your liquidation sale pallets
One method that's tried and true is the auction process. These auctions work similarly to other kinds of auctions you could be acquainted with. Wholesale pallet liquidation auctions can be quite profitable and also costly if you don't understand what you do.
Liquidation sales typically work by the manufacturer of a particular product selling large quantities of an item just because they don't need or would like to use the product any longer. It is crucial to ask yourself first who wants the items you are buying and how much they are willing to pay. If after you work out how much you can sell the items for individually, minus the costs of purchase and transportation you have a positive margin, it may be a feasible way to profit.
It's true, you could earn a bundle, but you may also lose a good deal. To start with, it is going to be essential for you to realize that the only means to truly generate income in this business is going to be to get as near to the pallet source as possible. This is because transporting the pallet large distances can really eat away your profits in a serious way. Some pallets could cost as high as $US200 to $US450 to transport from the source.
Unlike other wholesale liquidators, Genco situates its pallets in various facilities in the United States. This advantage alone allows customers to source products nearby to reduce freight expenses and make more profit.
Questions to ask when buying a pallet of liquidation merchandise
Ask if the liquidation company has a website and check it out.
Write down questions to ask them if anything doesn’t seem right on the website.
How will the pallet be loaded into my truck?
Are pallets wrapped before or after you purchase them?
(Wrapping the pallet after you purchase it gives you more of a sneak-peak into the products for investigation)
Is there a minimum purchase?
Can I get a shipping estimate?
Is peeking into the pallets allowed?
Do I need a special business license to purchase?
Which payments do you take?
Is there a packing slip showing exactly what I am getting?