How to Create an Online Liquidation Business (6 Steps)

Set up a place to store your inventory. This can be a room, closet or even the garage, if you are choosing to run the business from your home. If you to store a large amount of inventory and don't have the room in your home, lease a storage unit at a local storage rental facility or you can lease a storefront, if you can afford it. The place where you will store the inventory needs to be dry and clean. Preferably, have shelves for easy storage and retrieval when you need to ship purchases to customers.
Pick a niche. Whether it be clothing or electronics, choose an area to specialize in. You can choose an assortment of items to sell, but if you have a certain niche it will be easier to find your target audience when marketing your business. You can choose other areas of your business, including your business name and website address, based on your niche.
Find your liquidation merchandise. Companies sell surplus, returned, overstocked and liquidated merchandise in bulk for reduced prices. Check local sales papers and advertisements for stores in your area selling liquidated merchandise. Online websites, like Liquidation.com, have listings of people selling liquidation products. Some sellers on regular auction sites, like Ebay, sell bulk and surplus items. Set up an account and bid on pallets of merchandise you want to sell.
Build a website. Register for a domain name from companies like GoDaddy.com or DomainsAreFree.com. Get a hosting account. Domain name companies also offer hosting packages to keep all of your online services in one location. Some hosting companies, Siteground.com and JustHost.com, offer free domain name registration with hosting packages. Choose a hosting package that has an eCommerce option for selling online. These packages will have everything you need, including an online shopping cart and a step-by-step process for setting up your online storefront.
Set up a payment method. Set up an online merchant account, with companies like MerchantOne or Authorize.net, to accept credit card payments on your website. An alternative is to use PayPal, where the customer can pay from a checking or savings account, credit or debit card, or from their PayPal account balance. Most merchant accounts require a credit check or expensive upfront set-up fees. PayPal costs nothing to set up and many hosting providers allow you to easily add your PayPal account, with payment buttons and shopping carts, to your website.
Market your site. Buy Pay-per-Click advertisements from services such as Adsense or Yahoo. Use an online auction site to sell some of your items and add a link to your website in the listing. Write expert articles on saving money or buying online for ezines and article website with a link to your site in the author details section.
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