In 2019, Covid-19 changed how people perceived the world. Different businesses chose to move to the virtual world service, which caused a huge number of jobs to become unnecessary, like cleaning and reception workers. The economy of the world was affected and the unemployment level rose, including in India. According to the Centre for Monitoring Indian Economy (CMIE), the rate spiked to 29.9% in the urban areas and 26.9 in rural areas. This is why a lot of people start to think about other sides of income to survive similar situations. Different online side hustles were available to begin, but each one had a range of costs linked to it and sometimes needed financial expertise. Because of the obstacles, resellers’ business, which cost nothing to start, gained more attention as a great way to make money with zero investment. And, Hobo.Video is a good place to start!
So, Who Is A Reseller?
A reseller is a merchant who can be an individual or a registered business that buys goods to resell rather than consumption. The reseller marks their good price and generates revenue for each sale transaction. This is because the price at which a reseller purchases a product is less than what a consumer has to pay, contributing to their revenue when sold at MRP. Furthermore, anyone can be a reseller; housewives, students, part-time and full-time workers.
Reselling can commence with Zero investing, which means you don’t need a budget to start your business as a reseller. Moreover, the reselling profit is counting on the resellers’ effort to pay, it is not related to education or states. By having a fixed price for products, resellers also build a loyal consumer base.
Difference Between Seller And Reseller
Both are selling a manufactured product to customers, but there are several points to differentiate between the seller (Retailer) and the reseller:
Seller :
– A physical store that customers visit
– They are required to keep a stock of products
– Buy products from wholesalers and sell them to end-customers
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– A link between wholesalers and customers
Reseller :
– Buy products and resell them to customers without a physical store
– Do not require a stock of products to be kept
– Buy products from retailer or person to sell at a profit
– Freely linked to anyone in the linked cycle.
– Can sell to anyone, including consumers, wholesalers or retailers
– Can expand into other horizons (product types) easily
– There is no financial risk
Why You Should Become a Reseller
Besides the idea of having a source of income, becoming a reseller can be the best choice for a lot of people for different reasons:
1. Profitable Business
Anyone can make money as a reseller. You don’t need special skills or education to begin selling online.
2. Easy To Launch
You can start reselling using the available online platforms whether it is a website or social media like Facebook, Instagram or Twitter. All you have to do is use these platforms to post about your products for people to buy from you. Resellers can join hobo.video and share their store products on social media to boost their sales.
3. Zero Investing
No special equipment or physical store is required for reselling. You only need a good internet connection to start and the stamina to succeed.
4. Store Range Of Products
Unlike the physical store, you can add any kind of profitable products to your store at any number to sell. Moreover, you can change or add related or unrelated products, there is no limitations or fixed rules.
5. Financial Effectiveness
With low cost and zero investment, resellers can make a good source of income.
How to Sell Via Hobo.Video as a Reseller?
Hobo.Video has added the dropshipping model to its e-commerce platform, so anyone joining hobo can open a store as a reseller to do dropshipping and start earning.
Steps to follow to sell at hobo platform:
- Select category
- Select the specific products
- Make sure to select the size, quantity, colour, etc parameters
- Add products to your cart
- Visit your cart
- Add the full address
- Select the payment method, by cash or card
- Place the order for your customer
As we mentioned earlier, you don’t have to keep products in stock, but if you choose to sell stocking products, that will increase your profit more. In a nutshell, dropshipping is the best for starting as a reseller, but stoking will pay you a higher commission.
How to Earn Revenue on Hobo.Video as a Reseller?
If anyone joins Hobo.Video store through your reference link and become a reseller, you will get revenue from his sales up to 1-2%.
Resellers who increase their sales and maintain the same revenue or get above are eligible to receive badges after certain sales. king and emperor being the highest badges you can get. We at Hobo.Video has 20,000 + resellers already.
How to Choose Products to Sell?
A huge number of stores have already launched, and these stores sell almost all sorts of products you can think of. It can be an overwhelming process to select products for your store. But, a few tips can help you choose the right product for your store:
1. Try To Solve An Exciting Problem
Look around you and find out more about common problems people are complaining about. A pain point for a customer can be some difficult stains or finding a convenient watering system for their balcony small farm. Try to get more ideas from social media groups where people share their experiences about problems and solutions.
2. Read About The Product In The Feedback Section
Product feedback will help you get a better idea about consumer opinion and comment about what value these products add to them or how they can be improved to do better. That will make it easier for you to decide what products you want to add to the store
As you grow with your business, you can benefit from these tips:
- Improve your store listing
- Add products that customers want
- Sell products in a combined based on customers’ previous sales.
3. Attract Passionate Hobbyists
When people are passionate about certain hobbies, they are willing to pay for a high-end product to get the best result of their hobbies. And if they found that in your listed products, they are the most loyal customers to your store. For instance, the cricket bat price can range from Rs. 1500 – 20,520 for the piece, depending on the brand and the quality it offers to the players, yet customers are willing to pay.
4. Appraise Your Experience
This can be a great chance to scale your sales if you have deep knowledge about a specific niche. It can be a good quality handmade product or products to help people who share a similar interest with you. For instance, you can launch your store with products like cameras, lighting tools, tripods, or memory cards as per different category filters if you are an expert in photography. As an expert, you can add a description to your products that explains to your customers for whom and for what to use these tools. Your experience and guidance in the selection of products will give you an advantage over other photography stores.
5. Follow Your Passion
This choice can be a little hard for starters. If you are passionate about handmade products or arts or anything else, you can share your interest with others through your store products. You can build your store after your passion, just make sure to make it suitable for a larger group of customers. It can be anything from hair styling to tailoring to anything you know about its product.
6. Make The Most Of Trends
We said earlier that a good store is one with a specific niche. What that does for you is that your customers will remember your store when they need your product. However, you can add trendy products temporarily to your store to get the advantage of the trends. It will not only help you sell more products but, also, will make your store discovered in the research.
You can find trendy topics at places like:
- Facebook posting and comments
- Youtube trending
- TikTok
- Reddit: a forum where people buzzing about different topics
- Trend Hunter: most trend community
- Google trends: google suggestions and popular topics
7. Look For Similar Store On Different Platforms
Research for stores that have the same niche as yours. It could be on Amazon, Shopify, Facebook, local or international online selling platforms. You will have a better idea about the best seller rank in the market, and you can start to add similar products to your store.
8. Research For Related Product
For example, if you are thinking about creating a sound & recording equipment store, you can research products on Amazon; you will find additional results for your research, like:
“People are buying these items with this product”
“People are looking for these products too“
You can use these product suggestions to review and add related items to your store for your customers.
9. Opt For Higher Profit Margin Products
Products that are:
- Low-cost to produce, but high return on investment
- Routine, essential, or daily use
- Good quality
- Profitable but not too expensive
- Lightweight, cheaper to ship
What is Dropshipping?
Dropshipping is a business model where you work as a reseller without spending any cost or stocking the products to make a sale. In other words, the customer will purchase your product from your store, then once you’ve made the sale for your customer, the supplier will ship the product directly to your customer’s doorstep. You don’t have to worry about storing, packaging or shipping the products.
How to Increase Your Sales?
After you set your mind on becoming a reseller and launching your store with a variant of profitable products. Now, you have to consider how to increase your sale to make a profit. Marketing is the soul of trading(selling or reselling). I quote Philip Kotler what he said, “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit” (Kotler, 2001-2012)
Start Early
Have the advantage of launching your store earlier, so you will be established and prepared for upcoming trends and events to make higher sales.
Draw Attention To Your Store
You can enjoy all the year events in making special sales and promotions. For example, on Mother’s Day, you can add a promotion or sell products as a gift set for moms. Also, trending events are a great way to draw attention as we mentioned earlier.
Collaborate With Influencer
Influencer marketing is the best available marketing and the most ignored one. Take the chance to team up with an influencer to use your product and show it off in a real-life video. Young customers like Millennials are learning about products mainly from bloggers and influencers. Social media is the place where most millennials spend their time, especially on Instagram. So make sure to target big social media like Instagram, Pinterest, Facebook and YouTube.
Share Products On Social Media
Social media is one of the best marketing strategies that can help you to promote your products. You can share hobo products on your social media to get people to know more about your store and products. As a result, that will increase the organic traffic to your store and raise the percentage of closed sales.
Learn From Competitors
Your competitors will give you a better insight into what works and what doesn’t. And you can learn what kind of product to enlist for your store. You can learn from them how to present your goods and several marketing tips
Build Customer Trust
Make sure to write only a correct description of your store products and services.
- Offer product reliable information
- Help customers with any questions or enquiries
- be responsive and friendly
A loyal customer is an asset to every successful business.
Join Hobo Video!
Start to improve your income and work from anywhere with zero investing and a promised revenue as a reseller. Hobo.Video resellers enjoy the privilege of higher revenue than other platforms or dropshipping services. Essentially those who make the first step are willing to go further in success.
To read more about other means of how to make money on Hobo video, read this article.
To learn more about what we do, check out our FAQ’s.
Also, You can visit us on any of our social platforms to learn better about Hobo.Video: Instagram, Facebook, YouTube, Twitter, and Linkedin
Kunal