Best Strategies in Finding a Product for Sale

Following your passion is not always the best advice one can give, especially in selecting a product or service to sell. You definitely need a methodical approach and choose a niche with online success-conducive attributes if you are into a thriving business. There may be online hubs with the banner “how to sell my business,” but for instructions that are more detailed here are the steps you can follow so you will be able to find a profitable product to sell in Canada.

Best Strategies in Finding a Product for Sale

  1. Prepare to find a good product for your business. Know the kind of product you want to sell, either a single product or one that will give you an easy side income. Make sure that it is a good product. Good products have the following attributes:
  1. Specific niche products
  2. Light and small for easy pickup
  3. Consistent stream of buyers
  4. Selling price twice as much as the buy price
  5. Mechanical with great warranties and high-quality standards
  6. Trademarked
  7. Have multiple selling large volumes
  1. Do research to find good products in the Canadian market. Start your research as soon as you have learned what good products you can sell. This will require you some tools like:
  1. eBay – used in getting any idea with regards to the price point and volume you can sell for the product you research.
  2. Etsy – can be a good place where you can find best products as it is relatively untapped by importers.
  3. Alibaba – provides you with lists of the overseas suppliers and information on prices good products.
  4. Amazon – A hub that sells products and knowledge whether these products are competitive. It also offers an excellent idea of the product listing percentage.
  5. Spreadsheet – being used in tracking different products found during the search.
  1. Purchase to find and test the suppliers. Search for prospective suppliers and contact 3-10 of them for the product testing. Never hesitate to ask any question to suppliers, as they are also willing to answer questions related to the products they are offering. Do this by:
  1. Writing generic message asking for the necessary information
  2. Sending the message to suppliers
  3. Deciding which suppliers to purchase samples
  4. Buying samples
  5. Sitting and waiting for the samples
  1. Sell your products. Thoroughly examine the samples purchased. Investigate their quality, cheap appearance, heavy use and customer appeal. Sell your samples by listing products online, shipping out the orders and evaluating the product through feedback.
  2. Once you have started selling your products, continue growing your business in Canada. Execute and be consistent in your products and services in order to move forward in your business. Some approaches for the growth of your importing business include:
  1. Listing on other existing sales channels
  2. Establishing personal sales channel
  3. Taking new products
  4. Branding yourself
  5. Advertising on current sales channels
  6. Getting better prices from supplier
  7. Outsourcing the parts of the process
  8. Recurring revenue

Hopefully, these step-by-step guidelines of strategies are very helpful for your next venture in business here in Canada.