With the rise of online shopping, websites like eBay, Amazon, and Etsy have become a gold mine for sellers. And one of the most profitable niches in this business is used medical supplies. The reason for this is that so many medical suppliers gouge their customers and insurance companies with ridiculously high prices. So to avoid some of these big expenses, patients often turn to people who are getting rid of used and gently used products.
For most sellers, this is good news. It allows them to pick up various medical supplies at thrift stores, garage sales, or other sellers and flip them for profit. Believe it or not, you can mark them up significantly and still save customers a ton of cash. But in order to run this type of business the right way, you’ll need to follow this helpful advice.
Decide In Advance What To Sell
Online sellers usually decide what to sell by accident. In other words, they shop thrift stores, Craigslist ads, and garage sales, hoping to find a deal. But to be successful this way, it’s important to pick a niche. Of course, medical supplies are a profitable niche, but it’s a good idea to narrow that down even further and find at least one product that you can get consistently.
The best way to do this is to offer some wholesale products you can keep in stock along with your used items. For example, you might find out where to buy Tinnitus 911. This is a popular product that sells quickly because it’s fairly inexpensive. You can keep plenty of it in stock to sell to your customers at a reasonable price. This will allow you to keep some money coming in when you’re used inventory is a little low.
Choose The Right Platform
Possibly the most important step to flipping anything for profit is finding your platform. You can sell products online on sites like eBay and Amazon. Or you can list your items on Facebook selling pages, Craigslist, or local papers. The one you choose will depend on several factors. First, are there products like yours being sold on the platform for decent prices? Second, are there any restrictions you need to be aware of when selling? For example, eBay specifically forbids selling any medical supplies that require prescriptions. This could apply to sleep apnea equipment, eyewear, and certain braces.
Once you’ve answered those questions, it’s just a matter of picking the platform you’re comfortable with. Many sellers even choose more than one, experimenting with where they have the most success.
But keep in mind that with most platforms, you’ll have to do your own storing and delivering. However, Amazon has an FBA (fulfillment by Amazon) program that does most of the work for you. This service allows you to ship your items to them to store in their warehouses and ship out when they sell. Of course, while this is probably the most convenient way to sell, it does come with higher fees.
Know Your Product
Another helpful tip for buying and selling used medical equipment is to know your products. This usually just requires a little research that can be done entirely online. If it’s equipment you sell, make sure you know how it works and what accessories are needed in order to operate it. And if you sell things like supplements, educate yourself on how they work and what’s in them. For example, gluco type 2 ingredients are an essential part of the information you should have readily available if it’s a product you sell. Your customers will have questions about how and why it works and you’ll need to be able to answer them.