When a business is looking to get rid of excess inventory, one option is to sell it to liquidation buyers. These buyers specialize in purchasing overstock, closeout, and discontinued items at a discounted price, with the intention of reselling them for a profit.
Finding the right liquidation buyers can be a challenge, but with a little research and knowledge of the liquidation process, businesses can successfully sell their excess inventory and recoup some of their losses.
So, where can you find the best liquidation buyers?
1.Online Liquidation Marketplaces
One of the most popular and convenient places to find liquidation buyers is online marketplaces such as Liquidation.com, B-Stock Solutions, and Closeout Central. These platforms connect businesses directly with overstock buyers who are looking to purchase bulk inventory at a discounted price.
Online liquidation marketplaces typically have a wide range of categories to choose from, such as closeout lawn and garden, overstock housewares, home goods, liquidating pet products and more. They also offer a variety of payment options and shipping methods, making it easy for businesses to sell their excess inventory quickly and efficiently. An online Google search will also result in good options; you can try using search terms including: closeout process, liquidation process, overstock, shutting down operations, liquidate excess inventory and selling discontinued inventory.
2.Local Liquidation Companies
Local liquidation companies are another great option for businesses looking to sell excess inventory. These companies often have a physical storefront and can help businesses liquidate their inventory through auctions, consignment sales, or direct purchases.
Working with a local liquidation company has the advantage of being able to see and inspect the merchandise in person. It also allows businesses to build a relationship with the buyer and potentially negotiate a better price for their inventory. The reason for the liquidation does not matter; the closeout process is almost always the same. Whether the company needs to move excess inventory and move to a new location, or if they need to clear out warehouse space for new projects. In every case the goal is to get rid of dead stock that isn't selling.
To find local liquidation companies, businesses can search online directories or ask for referrals from other businesses in their industry.
Some liquidation buyers specialize in purchasing inventory from a particular industry, such as housewares closeouts or excess stock of home goods. These buyers have a deep understanding of the industry and are often willing to pay a premium price for inventory that fits their niche. Merchandise USA has been in the closeout business for almost 40 years and we specialize in buying closeout pet products, excess inventory of toys, home goods, lawn and garden products and other closeout buying opportunities.
To find industry-specific buyers, businesses can search online directories or attend industry events and trade shows. They can also reach out to their industry associations for referrals or recommendations.
Where to find buyers for overstock is one thing, but the actual closeout process is another story and may take some time and research to fully understand. Here is a closer look at the liquidation process.
The Liquidation Process
The liquidation process typically involves the following steps:
The first step in the liquidation process is to assess the inventory that needs to be sold. This involves taking an inventory count, identifying any damaged or unsalable items, and categorizing the inventory by type, size, and condition. Whether you have too much inventory in your warehouse, or you are shutting down your business, downsizing warehouses or just looking to reduce inventory, the process is the same.
Once the surplus inventory has been assessed, the next step is to negotiate a price with the liquidation buyers. The price will typically be based on the quantity and quality of the inventory, as well as current market conditions. Currently, there is a lot of excess inventory on the market making it easy for closeout companies to aquire goods. Some businesses sent too much inventory to Amazon and need to liquidate large amounts of inventory. Other businesses are dealing with canceled orders and are going out of business by the end of the year. Companies that buy in bulk will want to know how much you are asking for your closeouts. Keep in mind it is important to be realistic with what you expect to get for your dead stock. This is likely old inventory that has been sitting in the warehouse taking up space. If your goal is to liquidate and get rid of merchandise, don't expect to get too much.
3.Shipping and Logistics
After a price has been agreed upon, the next step is to arrange for shipping and logistics. This involves packing the inventory, labeling it, and arranging for transportation to the buyer’s location. Discontinued inventory and dead stock still needs to be packed properly to move it from one warehouse to another. Just because it has little or no value to you doesn't mean your closeout buyer feels the same way. Liquidation buyers are still spending money for your inventory and expect to receive it in clean and sellable condition. Don't forget, these goods will be resold into the discount market and re-purposed as overstocked goods being sold as special closeouts.
Once the inventory has been received by the buyer and inspected, payment is made to the seller. Payment can be made through various methods, such as wire transfer, PayPal, or check.
Finding the right liquidation buyer can be a daunting task, but by doing some research and understanding the liquidation process, businesses can successfully sell their excess inventory and recoup some of their losses. Online marketplaces, local liquidation companies, and industry-specific buyers are all great options for businesses looking to sell their inventory. Remember to assess your dead stock and closeout inventory, negotiate a fair price, arrange for shipping and logistics, and receive a deposit before finalizing any liquidation deals.
Merchandise USA buys housewares closeouts, liquidation pet product inventory, overstock home goods, discontinued toys and novelties and much more. Whether you are shutting down your entire operation, or simply downsizing warehouses we can help you with the liquidation process.