How to Make Money From Home buying liquidation merchandise to resell can be a great home-based business for Texas residents. Our guide will show you how you can make money from home buying liquidation pallets.
With tough economic times, more and more people report needing a secondary income source. Currently, over 45% of working Americans report having a side hustle. That amounts to roughly 70 million people. Texas is the second most populated US state, with over 30 million inhabitants, suggesting 13,500,000 Texans are earning money outside their main job. Let’s look at the most common reasons cited as to why people set up these part-time businesses:
Why do so many people try a side hustle?
38.7% – More personal freedom
27.4% – Extra income to save, spend, or invest
11.7% – Extra money to make ends meet
6.2% – Pay off debt faster
5.6% – A creative outlet
4.6% – “It felt like a calling.”
38.3% of Side Hustle Nation subscribers reported working 5-20 hours a week on their business, leaving plenty of time for their primary job, childcare, etc.
Why Start a Liquidation Resale Business in Texas?
Reselling is the process of buying merchandise not for consumption but for the purpose of selling it to an end consumer. Reselling can be a great way of making money either as a full-time business or as a side project.
A liquidation resale business typically sources inventory by buying surplus merchandise in the form of customer returns or overstock from retailers through liquidation marketplaces or auctions.
As retail sales are expected to reach $53 billion in 2023 How to Make Money From Home, the resale and secondhand market is expected to boom. The number of small businesses in the United States is also growing, with 32.5 million registered at the end of 2021, representing a 2.5% annual growth rate and constituting 99.9% of all businesses registered in the country.
There are no corporate or individual income taxes in Texas, nor are there state property taxes.
The regulatory environment fosters small businesses: the rules are clear and easy to comply with.
The economies of the largest metropolitan areas in the state (Dallas-Fort Worth, Austin, Houston, and San Antonio) keep growing, stimulating the rest of the state economy.
Texas is a national transportation hub. Taking the Dallas/Fort Worth area as a starting point, a truck can reach 93 percent of the country’s population within 48 hours and 37 percent within 24 hours.
Liquidation merchandise can come in many forms but the main two are; customer returns and overstock. Customer returns as the name implies are items that were sold to an end consumer and returned to the retailer. Overstock is brand new inventory that has never been sold to an end consumer. Both of these classes of inventory are considered surplus inventory to a retailer and are often sold via liquidation channels.
This inventory is palletized by the retailer and then sold by the pallet or truckload to companies to resell.