Product Sourcing Master Class: Dave Espino

Transcription

1 Product Sourcing Master Class: Dave Espino Note that the video does not always match the audio sometimes he s speaking about a new sourcing idea when the slide still shows the old one. So the time stamps are based on the AUDIO when he actually started to talk about a strategy. PSMC Video 1 1 Antique Mall Buyout Offer 5:30 Offer to buy entire lots/booths at antique malls or flea markets; you can negotiate better prices and they re used to making deals. Visit local antique malls Scope out ones with highly collectible items Offer to buy out entire space at favorable wholesale pricing 2 Trade Show Buyout Offer 14:48 Attend trade shows and offer to buy out entire booths, so that the vendor doesn t have to pack and ship everything back. Use tsnn.com to find trade shows coming to your area Find booths with items in high demand/easy to sell Ask vendor how they plan to dispose of products/samples left over at end Buy everything at favorable wholesale Note: you'll need access to a truck and there are usually time limitations on picking stuff up 3 Advertising For Product 17:50 When you figure out the type of products you d like to buy for resale, advertise for them in local classified ad newspapers. Find local classified ad newspaper (PennySaver, Thrifty Nickel, Hot Sheet, Recycler, etc) Note you can sometimes get free "resident" ads Test ads to see response, but be aware you that repetition is key Expand to larger regions/cities when you know ads work Check out nationwideadvertising.com if you want to expand nationally or to other cities. 4 Advertising For Consignment Deals 27:48 Run ads in local classified ad newspapers telling people you ll sell their items on ebay or Amazon. Make sure you focus on selling only higher-end or higher-profit items. Run ads in local classified ad newspapers saying "I ll sell your stuff on ebay or AZ for you" Could get business cards/post cards printed with your ad Specify types of things you want to sell mention high-end items but don t be so specific that you limit yourself too much. 5 Exclusive Drop-Shipping Arrangement 31:16 When you find someone selling a product you like (in his case, an attractive display case for vintage diecast cars), work out a deal to sell it for them as their exclusive agent. Find handmade or high-quality products that there's a demand for Find by searching on Etsy, at craft shows, trade shows, by advertising for these situations or on specialty websites Create an exclusivity agreement that allows you to be the only seller on ebay or Amazon 1

2 Start selling 6 Selling Cars On Ebay Motors 41:30 Find classic cars, buy them and resell for a profit on ebay Motors. Or approach local used car dealers and offer to list their cars on ebay Motors in return for a listing fee. Find classic cars locally by searching for them or hiring a "bird dog" on a commission basis Negotiate great deal from "don't wanter" sellers Advertise that you sell cars on ebay Motors - on consignment Contact local used car dealers and offer to sell their cars for them - charge them a "listing fee" (maybe $300) per car listed 7 Flea Market Finds 56:35 Looks for things like closeout/new merchandise, high demand marketing courses, workout DVD sets and rare media items in general, collectible toys (e.g. Furbys), collectible books, etc. Get there early, bring lots of cash, bundle items into lots so they'll give you good deal 8 Business Card/Postcard (1:02:55) Hand out business cards or postcards (which he prefers) with ads on them, and hand out to people who may have access to products in your niche. Shows example at 1:04:33 ### Cash for Hot Wheels! (Picture) I buy vintage Redline Hot Wheels Cars (from 1968 to loose AND in the package!) Top prices paid! No collection too big or too small. Also looking for Mattel Employee items, Hot Wheels Store Displays and Hot Wheels Track Sets. Call Dave at: or Visit: ### Decide which high-demand/collectible niche to be involved in Print cards Distribute the cards everyone you go, leave them places where "prospects" might hang out Get calls and go buy! 9 Buying Events 1:09:33 "Antiques Roadshow" format. Have people bring in collectible toys (watches, rugs, whatever) for an appraisal. You have someone looking items up (completed listings on ebay) to get value; offer to buy good items on the spot. Start small (venue, office), rent for a few hours Advertise everywhere and often so you get lots of people to show up Have plenty of cash (guard it!)or use checks Have researcher there or available by phone - they're looking at ebay completed listings. Start buying up collections. 2

3 10 Craigslist Arbitrage 1:17:10 Compare local Craigslist and ebay listings using tool at PostedProfits.biz; flip for a profit. Visit postedprofits.biz Run comparison searches for products you know are good sellers Go buy items and resell if there's profit to be made 11 Excedrin Example 1:20:04 Not really a strategy but an example of how he used creative ways to find a product that was in high demand. Be on lookout for recalled items and/or items with spikes in demand Keep abreast of where you can source these items Have product sourcing mindset wherever you go When the opportunity comes, be ready to strike. 3

4 PSMC Video 2 Almost every idea on this video involves using ebay to find items to resell. 12 Searching Creatively 1:40 Reverse-engineer sellers on ebay to find good products; find them using completed listings searches. 13 Spying on Successful Sellers on ebay 9:50 Look for sellers with great products and high feedback ratings; look at their detail page and Items for Sale to see what they re selling successfully and how they re doing it. While searching for popular products, look for high-feedback sellers Check completed listings and other products Look for sources of that product 14 StuffAlert.com 13:45 This tool sends you alerts when an item you are looking for gets listed on Ebay. Use tool to enter details of items you d like to buy Use alternate keywords/titles Buy for resale when you find good deals 15 Buy It Now Sniping 17:40 Snap up items that are priced too low on ebay as soon as they re listed. Enter term that you want to snipe into ebay search Create alerts 16 Searching Mis-Listed Items 22:33 Looking for ebay listings that are poorly done misspellings, missing keywords, product titles that are too short so that you can find and buy profitable items, cheap. Use not in title search at Goofbid.com (under ebay Tools) Type in keyword you want to use, and search! 17 Finding Wholesale Lots on ebay 38:01 Search ebay using terms like lot of group of collection of wholesale lot of Negotiate because it s often harder to sell a larger lot. You can also contact sellers who seem to have a lot of one item and negotiate a deal. Search using those terms Create alerts so you are notified when new listings match Negotiate 18 Finding Wholesale Lots on Amazon 43:18 Contact Amazon sellers and offer to buy a lot at once, ask if they d give you a deal. Find product you want (probably lowest price seller), select max number of items, and Add to Cart (make sure One-Click ordering is NOT turned on). Click on Edit your Cart, put in huge number, and it will show you how many the Amazon seller actually has available. Contact them and ask about buying a large quantity. Contact on Amazon by clicking on the seller name, Detailed Seller Information in the shop, then the Customer Service link. 4

5 19 Searching Misspellings on ebay 53:58 Put misspelled keywords in quotation marks so that ebay doesn t default to showing you correctly spelled items. FatFingers.com has misspelling search tool Type in the correct spelling, and FatFinger will find misspelling variations and bring up the listings that match 20 Amazon to ebay Profits 1:00:52 Find products incorrectly or poorly listed on ebay and list on Amazon for higher profits. 21 Wholesale/Dropshipping 1:03:55 Doesn t really like Dropshipping, if you do he prefers you set up exclusive arrangement like in idea #5 in first video. Q & A 5

6 PSMC Video 3 Little known product sourcing tricks. 22 Deep Googling 01:00 Finding wholesaler s websites look for sources by putting name of product plus Add to Cart (or Buy Now or Order.) You may have to go through quite a few search results pages, but it s a good way to find product sources that most people will not. 23 Tips to Getting Great Craigslist Deals 11:57 Jump on deals quickly Respond to ads enthusiastically Show up when you say you will Be safe 24 Home Shows, Boat Shows, Car Shows, RV Shows 18:25 Look at accessories sold at these shows for new products; meet vendors with idea of becoming exclusive Internet distributor. Arrange meeting! 25 Storage Auctions 22:02 Like the TV show Storage Wars. StorageUnitAuctionList.com and StorageTreasures.com Be careful, don t gamble, bid only on what you can see 26 Local Auctions 32:00 Local auctions, try AuctionZip.com to find auctions near you usually less competition. 27 Little-Known Online Auctions 34:37 AuctionZip.com will show you online auction sites by clicking on Online Bidding there are many options besides ebay! 28 Live Webcast Auctions 38:50 Also go through AuctionZip.com to find; check auctionzip.com/azldemo.html to learn how it works. Bid live from home. 29 Government Auctions 40:08 GovLiquidation.com be sure to find out if the seller ships products before you bid. Sometimes you re expected to pick products up. 30 GSA Auctions 43:20 Wide variety of items government (General Services Administration) no longer needs, sometimes there is new merchandise but mostly is used. GSAAuctions.gov Find out if the seller ships or if you have to pick it up 6

7 Be sure to read terms before bidding 31 GovDeals.com 46:32 Surplus and confiscated items from the government, available at online auction. Exercise same cautions as with other government auctions mentioned above. 32 Police Auctions 49:10 PoliceAuctions.com 33 The World of Government Auctions 50:03 MANY government departments hold auctions, such as the IRS and HUD and NSAS and Department of Energy, Defense, Agriculture etc. Google Government Auctions 7