After a solid win in Arizona, Wholesale Sharks 6.0 has moved on to the next state, where it will be using the same tactics that worked so well in Arizona to win another game! Now, even more students from across the country have joined Wholesale Sharks 6.0 and are working toward success in their respective states! With their win, these Wholesale Sharks have all received six months free access to the Sharks 5.0 club! If you missed out on this offer, now’s your chance to get involved and get free access to the Sharks 5.0 club, too!
What are Wholesale Sharks?
Before we explain what Wholesale Sharks are, let’s take a step back to discuss inventory arbitrage and how it works. Wholesale sharks (or sharks) are retailers who buy merchandise at low prices from local retail stores and then resell that merchandise at higher prices on eBay, Amazon, or even their own websites.
How did the project get started?
Wholesale Sharks has been around for a while and is one of our flagship projects that launched in 2007. This project gets attention from all over for its success and is often copied by less successful companies across multiple online and offline industries.
Inventory building strategies
Inventory is an essential aspect of any retail business, but there are two approaches to how to build your inventory: investing more cash or borrowing from your credit line. While one option might seem safer than the other, both have their benefits and drawbacks when it comes to managing your short-term inventory needs. Understanding what each option offers you will help you decide which route is best for you and ultimately will allow you to buy products that drive profits for your business.
Identifying the best inventory items to buy
When starting your wholesale business, you should research and know what products to look for that have a high-profit margin. Picking items with a better profit margin will help you make more money and grow faster as an entrepreneur. We recommend looking for items that are easy to resell on retail sites like Amazon or eBay, rather than eBay itself because of its hefty commission fees.
Which products had the best margins?
We calculated our margin by dividing our wholesale price (the money we made on each sale) by our retail price (the price at which we sold it to customers). For products that were produced or purchased overseas, we added shipping costs to our product’s cost of goods, then divided them by sales price and subtracted shipping to get a rough estimate of profit margins.
Liquidation Season Update
We were back on our home turf and ready for some fun, fun, FUN at Wholesale Shark’s latest public shopping event: Wholesale Sharks 6.0! Q&A with Kelly from Wholesale Sharks
How did you get started and why did you start a wholesaling company? Kelly: I started Wholesale Sharks about ten years ago. The idea was simple; to teach people how to buy businesses for less than what they’re worth and resell them for much more profit than most people will ever see from their jobs.