Jasmine
VIP Contributor
If you are not manufacturing your own products, you will have to outsource your products. You can do this in two ways, one, you design the prototype find a manufacturer ask them to produce products for you; and two, you procure products from the manufacturer or supplier, add your mark up profits and resell those products. For the second option, how do you actually choose what products to sell?
You need to choose the products wisely because if you try to sell wrong products, you will not make profit. Here are some tips.
Choose the products that are not saturated in the market. In other words, a lot of sellers must not be selling the same product.
Choose the products that give you enough profit margins.
Choose the products that actually adds value to people’s lives
Choose the products that will be appropriate for your target market.
Choose products that are in demand but not in much supply.
You need to choose the products wisely because if you try to sell wrong products, you will not make profit. Here are some tips.
Choose the products that are not saturated in the market. In other words, a lot of sellers must not be selling the same product.
Choose the products that give you enough profit margins.
Choose the products that actually adds value to people’s lives
Choose the products that will be appropriate for your target market.
Choose products that are in demand but not in much supply.