Meet Joe and Jessica! This dynamic duo was featured on A&E’s “Extreme Unboxing” last August and, thanks to the success of their reselling business, are now an unstoppable force. Their growing channel, The Family Flips, shares both extreme hauls of liquidation pallets and provides impactful how-to content, live Q & As, plus insightful tips based on years of reselling experience.
Read on to learn Jessica and Joe’s tips of the trade!!
As resellers of 7+ years, you’ve probably seen a lot of changes in liquidation. How much has this industry evolved from when you first started?
The reselling market changes constantly like every other industry. When we first officially started reselling, we began with thrifting – not liquidation merchandise. We saw a profit by selling old cell phones and women’s jeans. But as time passed, and the needs of both our family and our business became more demanding, we had to adjust the way we sourced our items.
We learned early on that buying trends, return policies, liquidation regulations, and shipping costs all affect the industry. So, one skill you have to hone in on is being adaptable and becoming a creative problem solver. This will help you stay ahead of market changes and prepare your business for whatever challenges come your way.
Electronics, automotive, and sporting goods are three large categories, but they’re hard to venture into for beginners. What advice would you give to someone interested in sourcing this category?
When sourcing liquidation, always start with a category you know best. For example, although there is money in electronics, automotive, and sporting goods, there is a learning curve if you have limited experience with this particular category. On the other hand, when you’re knowledgeable about the items you’re sourcing and selling, it’s easier to test, inspect, and list. Resellers should also consider the local market since in-demand products in your area can sell quickly for a higher profit.
What tips would you give to a reseller looking to scale up their business and start their reselling website like you two?
If you’re interested in turning your side hustle into a full-time gig, you should take advantage of the marketing opportunities at your disposal. This will help get your storefront and/or website in front of more potential buyers. A good place to start is by learning about advertising, search engine optimization (SEO), leveraging your social media platforms, capturing great photos, and making creative videos and content.
Keep in mind that platforms like eBay and Amazon already have tons of eyes on their site, but selling on a personal website is a different ball game. It’s your job to guide your audience to your website and then make the sale. But don’t worry – there are free, easily accessible resources and platforms like YouTube that can teach you how to do this in no time!
Do you find that selling items on your own website provides you with a better ROI, or does it depend on the item?
There are pros and cons to selling on your own website. Choosing this route can result in a positive ROI and profit margin since your fees are much lower. You also don’t have to pay another platform to sell your items. However, it’s important to keep in mind that you might not get nearly as much traffic on your personal website as on a digital marketplace that has millions of shoppers per day. Ultimately, as a seller, it’s up to you to determine what ROI is acceptable and if you’re willing to do the work to drive buyers to your website.
Being featured on Extreme Unboxing was HUGE. The entire BULQ team tuned in weekly. So what was the most rewarding part of that experience?
Extreme Unboxing was SO MUCH FUN! It was a great experience, and we learned just how much work goes into filming for a television show. My favorite part was giving a realistic viewpoint on the potential for reselling businesses, plus getting to hear different business strategies from fellow resellers. I also appreciated how well the show highlighted the diverse and unique ways people run their businesses.
Are you a BULQ customer? Let us know if you want to be featured in a future Reseller Spotlight?