How To Start Online Reselling Business In India?
What is reselling business? Evidently, you must have! In the bustling landscape of India's digital economy, the online reselling business is rapidly emerging as a lucrative and viable profession. Think of it as the 21st-century version of the traditional trading business, but with a twist.
The reseller business can be incredibly profitable and one of the best alternatives, particularly for those new to the business world.
But let's back up a bit. What exactly is a reseller, and what do we mean by reseller business? A reseller is someone who purchases products, ideally at a lower price, and then sells them to consumers at a profit.
The reselling business, therefore, is the act of sourcing these products and selling them via your own online platforms. The beauty of this business model? You don't need to worry about manufacturing, stocking, or shipping.
You simply focus on marketing and selling the products. Now, doesn't that sound appealing?
Before we jump into the "how-to's", let's first have a peek at the potential of this sector. In India, the online reselling market was valued at around $600 million in 2019 and is expected to reach a whopping $4 billion by 2022.
These figures certainly paint an enticing picture for eager entrepreneurs.
Now, whether you're an aspiring entrepreneur or a veteran looking to diversify, you may be wondering, "How do I start a successful online reselling business in India?" Well, sit back, relax, and keep reading because we're about to take a deep dive into the world of online reselling.
"The secret of getting ahead is getting started." - Mark Twain
And there's no time like the present to get started on your entrepreneurship journey. So, let's dive in and discover how to start a successful online reselling business in India!
How To Start Online Reselling Business In India?
This article will guide you through the ropes of starting a successful online reselling business in India. But first, let's get to the basics, shall we?
What is a Reseller?
A reseller, simply put, is an individual or a company that purchases goods or services with the intent to sell them rather than consume or use them. This is often done through third-party retailers or direct selling schemes. In essence, you become the middleman between the manufacturer and the consumer, earning profits from the difference between wholesale and retail prices. Not bad, right?
What is the Reselling Business?
Reselling business, also known as retail arbitrage, involves buying products at a lower price and then selling them at a higher price. This involves a keen eye for profitable products and effective marketing strategies to attract customers.
Think of it as treasure hunting in the world of commerce, the treasure being profitable products and the map being your market insights.
But before you start dreaming of counting your profits, let's roll up our sleeves and dive into the nitty-gritty of how you can start a successful online reselling business in India.
Are you prepared to start this thrilling adventure? Let's go!
Also Read: Tech Innovations Driving Effective Digital Marketing Strategies
Reselling vs. Distributorship: Distinguishing Between Two Business Models
The terms reselling and distributorship are often used interchangeably in the world of business, but these two models have some key differences that you should be aware of before you start your journey as a business owner. Are you confused? Don't worry! We're here to clear the clutter for you. So let's get started!
Reselling Distributorship
Definition A business model where you purchase products from suppliers and sell them to customers at a higher price. A business model where you act as an intermediary between the manufacturer and the retailer, buying in bulk and selling in smaller quantities to various retailers.
Inventory Management Usually, resellers don't hold inventory. They use a technique called dropshipping, where the supplier ships the product directly to the customer. Distributors usually hold inventory and are responsible for the storage and distribution of the products.
Relationship with Suppliers Resellers might not have a direct relationship with the suppliers. They can use platforms like Amazon or Flipkart to purchase products and sell them to customers. Distributors usually have a direct relationship with the manufacturers and often have exclusive rights to sell their products in a specific region.
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