One of the major virtues that set a successful business owner apart from the rest is patience. By being patient, wholesale liquidators can work progressively toward their goals of buying closeouts from importers who need to get rid of merchandise and sell surplus inventory. People know and respect those who strive consistently to reach their goal, regardless if the goal requires a year or even decades to be accomplished. Liquidation companies specialize in buying dead stock that they can redistribute to closeout buyers and closeout websites around the world. This often takes patience because not every deal is good, and only the best items at the best prices will sell. Some companies that have liquidation stock for sale are not motivated enough to get rid of their closeouts cheap enough; this is why it is important to wait.
Liquidation companies do business with deep discount retailers who are accustomed to buying from auctions, closeout websites and other companies that liquidate inventory. The consumer who shops in these stores has little discretionary income to spend, so he or she is demanding and will only respond if the prices represent great deals. In order to sell surplus inventory in this environment, closeout buyers for large companies must be patient and continually search out the best deals they can find. Some of the best closeouts come from warehouses shutting down, businesses moving 3PL warehouses, wholesale liquidators flipping deals for small margins, companies that are downsizing or liquidations from bankruptcy.
Now more than ever, it's important to develop resilience, which is the ability to bounce back from challenges and keep going. As the events of 2020 proved, resilience is a critical trait for entrepreneurs. Liquidation companies and closeout buyers who work for these companies can easily burn out. We are in a low margin, high volume kind of business and we are constantly looking for opportunities to buy overstock inventory from businesses that need to liquidate. This means a lot of phone time, hours in front of the computer, and as soon as Covid subsides we will be back to travel. One very good way wholesale liquidators and buy inventory is by attending trade shows where it is possible to meet, face to face, with owners of companies that need to sell surplus inventory.
With patience and resilience, you remain focused on your goal despite any unexpected adversity. With closeouts it is possible to go in streaks where you can find a bunch of liquidation deals at one time, then nothing for what feels like an eternity. You know your goal is still possible and worth continuing toward, so you don't get bogged down by the clouded judgment that frustration can bring. In short, patience helps you stay effective for the long haul. Closeout websites list different buyers and sellers of overstock inventory and this can prove to be a helpful source in locating excess inventory.
The definition of “patience” is directly tied to perseverance and tolerance during times of long-standing suffering. The word used in today’s English comes from the Latin verb pati, which means “to suffer, endure, allow or permit.” Wholesale liquidators learn patience by default, because they have to. Liquidating excess inventory can be a long process, from start to finish, and not all deals move quickly. Sellers of excess inventory sometimes need compassion and patience from closeout buyers. Some businesses that are larger and more seasoned may liquidate excess inventory regularly through the year, and they are familiar with these closeout process. But other companies like Amazon sellers shutting down their FBA warehouse or small businesses that are selling obsolete inventory for the first time can require a little more patience. It is important to work with these businesses to help them with their wholesale liquidation and explain the closeout process.
Wholesale liquidators cannot buy every deal offered to them. Most are overpriced, many simply don’t fit the customer base, and others may be too small for closeout buyers who prefer larger inventory liquidations. It takes time and patience to review every offer, but this is what overstock liquidation companies have to do in order to succeed.
Merchandise USA buys liquidation stock and surplus inventory of all closeouts, overstock and discontinued merchandise. We do business in the United States, Canada, South America, Central America and Mexico where we have developed contacts of both large and small excess inventory buyers.