Is starting a side hustle a good way to boost income in Florida? This is a recurring question as the economy in the state expands and is reaching a stability growth after many years of changes and rapid fluctuations. The short answer is yes, it is, but it depends on the specific option.
Today, starting one with low minimum order quantities (MOQs) is viable thanks to the multiple suppliers and how liquidation deals have grown. At Coastal Surplus Solutions, we understand how MOQs work and the way to start your side hustle without going over them or overspending.
We are here to guide you through the process and ensure you can source the best liquidation pallets in Florida.
Before That, What Are Low-MOQ Liquidation Pallets?
Liquidation pallets are bulk lots of surplus goods. They can be returned and overstocked items as well, that retailers or manufacturers need to sell in order to bring new inventory.
Since this is more of a “cleaning” process for them, these pallets come at steep discounts and great opportunities.
Low-MOQ pallets mean you can purchase smaller quantities instead of the usual truckload size. This makes it easier to start a side hustle with little investment and enter the market even without large capital.
Is this worth it as a side hustle?
All liquidation pallets contain a mix of products from an industry, depending on who the seller is. Often, they include a mix of high-quality goods that can be resold individually and are a gold mine when side hustling.
The idea is to start a business with low initial investment and be able to build your inventory from there. Then, make deals with great prices and conditions for the buyers.
How Can You Start Your Side Hustle This Way?
While there is no magic formula, we have established a few steps that will benefit your journey and how you can get started:
Step 1: Prepare a Solid Business Plan
You always need a plan. Be it a small or large investment, going in blind will only cause losses.
It is essential to outline your business goals, budget, operational plan, what you will sell, and to whom you will sell it.
According to ASD Market Week, a detailed business plan should include:
- Initial inventory costs.
- Shipping and storage expenses, and some extra costs in case of difficulties.
- Marketing and sales strategies.
- Target customer segments.
- Logistics.
More than managing costs, it is about establishing viable expectations and small goals to aim for bigger later.
Step 2: Research and Choose Your Niche
Planning comes with deciding what to sell.
While you can get liquidation pallets for anything, it does not mean you will get everything.
Focus on product categories you want to approach and work with. Establish one niche or industry and work around it.
Once the niche is decided, think about the following aspects:
- How is the demand in the local market?
- Is it something that takes a lot of space and inventory?
- Does it sell quickly based on today’s trends?
Popular niches we can recommend in Florida are electronics, clothing, home goods, and beauty products. Anything that is surplus goods on these items is a great investment for resell.
Step 3: Find Reliable Liquidation Suppliers or Where to Buy Pallets
Sourcing is the hassle.
You can always find supplier, but it is crucial to ensure their reputation and quality assurance.
Are their liquidation pallets usually full of high-quality or decent items? What about costs and logistics?
You want to find suppliers that offer consistent quality and opportunities. Otherwise, the investment won’t be profitable as small as it will be.
Coastal Surplus Solutions helps you connect with surplus goods and liquidation deals in all niches and industries. We find the best products, prices, and negotiate terms and logistics for you. This makes your side hustling and bulk buying process hassle-free.
Step 4: Start Small and Scale Gradually
While low-MOQ already means you will start small, this means you should start even smaller.
Instead of buying 2, 3, or even 4 low-MOQ pallets, try starting with 1 or only 2.
Test your market and refine your sales approach. See what sells more compared to other items, and if the liquidation pallets you got are worth reselling. If so, you know where to go for your next purchases.
While this is slow-paced, you need to gain confidence and capital. You can increase your order sizes and diversity once you have established your niche and items sell.
Following TechMaish practices and recommendations, starting small and gradually scaling reduces risk and builds a sustainable side hustle.
Step 5: Manage Logistics Efficiently
What makes a side hustle fail is not the investment in most cases, but rather its logistics.
Be efficient with inventory management and shipping your items. You want to focus on how much you have, how much you will get next time, and whether you shouldn’t get more of certain items.
Logistics management is often underestimated and which leads to most individuals losing earnings.
Focus on minimizing delays and, besides inventory, avoid customer complaints. Your reputation is what makes people come for repeat purchases.
We Help You Start Your Side Hustle
Logistics, sourcing, and shipping. These three tasks will take up all your time.
Coastal Surplus Solutions is a top sourcing partner in Florida that connects you to liquidation pallets and great deals. Sourcing with us means:
- You get access to a wide variety of low-MOQ pallets and opportunities. All of them are tailored to your needs and goals.
- Quality assurance is guaranteed since we inspect all inventory, so you can resell your goods.
- You get access to expert guidance to navigate liquidation.
- Every step of logistics is streamlined and easy to handle.
Starting a side hustle with low-MOQ liquidation pallets is a smart, low-risk move. You can enter the resale market with minimal investment and come in perfectly for all your needs.
Careful planning, niche selection, and reliable sourcing will be needed for this to succeed.
Get started with our team and contact us to find the perfect liquidation deals and surplus goods for your side hustle.
