How do you liquidate inventory?

There are a couple different ways you can liquidate your surplus, excess inventory. Here are a few options.

 
  1. Sell your excess inventory online. There are multiple platforms available for you to recoup your investment. Amazon.com, e-Bay.com, and now wal-mart.com has platforms built that anyone can easily list their products on their website and sell them to general public. It is the long term project and depending on the size of your inventory – you may have to hire someone full-time to handle this task. Certain things you need to know before selling your products online.
  2. Know what you have available to sell. (Descriptions, colors, size etc.)
  3. Know how much of each product or SKU you have available to sell.
  4. Having high resolution images of your products can be very helpful. Each product should have anywhere from 3-8 pictures to give a good idea of what your product is, and what it looks like. A picture says a 1000 words.
  5. Know that you are not going to recoup your investment right away. Selling online if you have a lot of inventory can be a full-time job. It may not be for everyone but it will help recoup your funds over time.
  6. Get to know the platforms you wish to sell on. Amazon Sellers have grown in numbers significantly over the past few years. Amazon’s selling platform is one of the most sophisticated ones out there.
  7. Know that there will be fees involved regardless of whichever platform you wish to sell your products on.
  8. Sell your inventory to a Closeout Buyer, Wholesale Excess Inventory Buyers, or anyone that is willing to pay you upfront for your liquidation products. This is a short term quick fix to your excess inventory needs. This option will allow you to recoup some of your initial investment but it will get you paid right away or at the most in the next 30 days if you allow net term payment options. It will help clean out your warehouse to make room for new products.
  9. You could wait out the season and sit on your inventory but try to sell these goods next year around the same time these products are relevant in the market. However, know that is a risky move. The market can be flooded next year by the same product with added new features and benefits and even at a better price for consumers.