How to Buy Niche Books for Resale
Buying books at a discount rate and selling them on with some profit margin is a good way of earning some money. The business can be more lucrative for part-timers or students who even look for running it at a part-time basis.
You can buy old and new books from the market. First step for you to take towards it is to decide types of books you want to sell. Whether they are novels on any topic or course books. Course books can allow you to set a reasonably good profit margin and also can good sales turnover, especially at start of new academic year. The books like novels can help you earn some good profit but sales turnover cannot be as great as of course books.
Also, you should decide whether you want to sell old books or new ones. In case of new ones you should find a supplier who is willing to sell books to you at lower than market rate, even if it is a wholesale rate. You cannot earn a good profit without purchasing books at a discount rate. So think of the option in advance. If you buy and re-sale old books, you can have an extra space for higher margin.
Further, you should determine your marketplace. Whether you want to sell the books online or want to establish a stall in your local market.
Instructions
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1
Decide Types of Books
First of all you should determine types of books you want to sell. You can either sell course books, which can be in demand throughout the year. They are in greater demand at start of new academic year so during that period you generate some good business. In case of selling general books i.e. novels, you can certainly have greater profit margin but overall sales volume can be lower. -
2
Old or New Books
Next thing for your to decide is you want to sell old books or new ones. In case of new ones you should arrange a supplier who is willing to sell books to you at a discount rate, lower than market price, so that you can earn some profit. In case of old books your profit margin can be higher but you should be considerate about your market potential as storing old books is a rather difficult task. -
3
Decide Your Market Place
You should also decide beforehand if you want to sell books online on the internet or want set up a stall or a small shop at your local market. You can also sell books on online auction sites but you can determine this keeping in view of the scale of your business. -
4
Arrange Supplier
You should get quotes from more than one supplier and decide which one is more flexible in the price matter. You can discuss your proposal with them and try to seek as much discount as you can. The price should be lower than market retain and wholesale prices. This will allow you to set some reasonable profit margin. -
5
Arrange for Shipping
If you are going to sell your books online on the internet and at a rather larger scale, you should arrange a shipper. You can talk to your local courier office or even post office and negotiate a competitive rate with them, since you will be shipping books at regular interval. This can contribute towards your overall profit margin.
