Pallet flipping may sound normal to some, but it’s definitely it being “weird” is definitely in the upper hand for many. So, what is it? Why are people so invested in it that they go crazy about it?
In a nutshell, pallet flipping is this “side gig” that is in the “buy and sell” sphere. It’s when a buyer purchases pallets from distributors or factories, and sells the items individually.
We’ll dissect that more and more, so, don’t worry if you don’t understand it well enough!
What is a Pallet?
A pallet, in the easiest terms possible, is a collection of products in warehouses and distribution centers that are just stored there. They are there for two reasons:
- They have low-purchase rates
- They have been returned by the buyers to the sellers and aren’t eligible for re-inventory
If you own the warehouse, what would you do? Of course, you’ll try to get rid of them! Most warehouses sell them in bundles, offering them at discounted rates.
They’re called “pallets” because a pallet is a platform companies use for storing – it’s like the idea of these products being offered as a bundle.
What is Pallet Flipping?
Pallet flipping is the act of buying these pallets, and the buyer sells them individually, making a profit. The profits can either be high or low depending on the items you will get from the pallets.
Many people consider it a risk because of this fact and because they have little-to-no idea of the items, as well as the market they’re going to sell it to. Some buyers even keep items that they need (or want), and sell the remainder of the items, and still get a profit.
Other than that, it’s a win-win.
How Do I Find a Pallet?
Finding a pallet is actually one of the most crucial and most difficult responsibility in this gig. I mean, where would you go to find items that haven’t been claimed or received by buyers? But, as time went on, many people in the industry was able to patch this problem quickly – and it was by contacting liquidation warehouses.
Pallet flipping changed the course of the industry because since then, these warehouses and liquidation companies started offering pallets on their websites. They started advertising these types of goods!
So, the best and probably the only way to find a pallet to purchase would be by searching through liquidation businesses and companies near you. Apart from these companies, though, you can try your luck by searching and checking companies that offer bulk or wholesale merchandise.
Can I Find a Pallet Flipping Near Me?
Yes, of course! You can either search for a liquidation company that offers pallets near your location. There are a lot of places you can go to for pallets to flip. The best ones, currently, are:
NOTE: If you know a site or a location that sells wholesale goods and merchandise, you can approach and inquire, too.
We always prefer being “in that moment, physically.” The reason why is because other than the fact that you’ll see the pallet in person, you can get a feel of how it’s like to negotiate and to purchase it while it’s in front of you.
What Are the Pros and Cons of the Pallet Flipping Business?
Like any other business, pallet flipping has risks involved. While it’s a good business model to follow, it’s not foolproof – there are things great about it, as well as things you need to consider.
Here are the pros and cons of starting of flipping pallets:
Pros of Pallet Flipping
- It can be profitable, especially if it’s done in the best and correct way.
- Scalability is not an issue, you can scale and grow with the business.
- It’s flexible, versatile, and is not that requiring of a business to start. You can even start doing it part-time first!
- It has a low-cost investment requirement. You don’t need tens of thousands in the bank to start. So long as you have the funds to purchase a single pallet, you’re good to go.
- You can make money fast. You can flip a few items within the day of acquiring or purchasing the pallet.
- The options are limitless. You can find good and bad-quality pallets, but you’ll still make money!
- It’s fun and exciting – you get to negotiate and work with people in different industries.
Now, these pros and advantages may seem promising. However, it doesn’t end there. Like everything else, pallet flipping also has its cons.
Cons of Pallet Flipping
The following are the cons of pallet flipping:
- It takes time to learn the art of finding good pallets and selling them for good prices. It doesn’t come overnight.
- You are in competition with tens of thousands of people who share the same interest. Try to find where you’re good at.
- Running a business is already mentally demanding – what more when you’re lifting, moving, and transporting heavy objects? You need help and you need it fast.
- Costs are low, but you have to think of other factors like shipping, storage, and other overhead fees.
- You’ll need to have an extensive knowledge of products to sell them effectively.
How to Start a Pallet Flipping Business: Can You Make Money Off Of Flipping Pallets?
Starting a pallet business is neither a walk in the park, nor a piece of cake – it may appear easy, but it is as complex as how many people think it is.
But you’re lucky.
We’ll briefly share with you the concise, step-by-step procedure in starting your pallet-flipping business!
- Find liquidation warehouses and retailers that you think you can work with. From there, you’ll be able to gauge the best ones to get pallets from.
- If you can, find one that’s near you! Simply do a search like Liquidation Warehouses Near Me or Bulk Liquidation Pallets Near Me.
- Then, finalize the pallets you want to get. Be sure to get the bang for the buck!
- Once done, do research on the items you got. Study them and make sure you have enough information to back your claim up.
- Lastly, look for sites and avenues where you can sell them. It doesn’t always have to be in-person – you can sell them online!
Where Can You Sell or Flip Your Pallets?
Following that, it’s important to know and to be aware of the places where you can proceed to sell your pallets. I mean, if you know people who could be interested, then, by all means, do so.
If, however, you’re starting a business and you want a steady stream of income, here are where you can sell items from your pallet:
- Facebook Marketplace
- Auction Sites
- Set Up Your Own Store
You can set your own store up and sell your items there! This method is the one that takes up the most time, but it’s also the one that’s the most promising. Once you’ve established connections with people, your store will be known and bought from by more people as days go by.
What is the Wood Pallet Flipping Business?
Wood pallet flipping is the gig where you find used wooden pallets, refurbish and enhance them, and then prepare to sell them. You will, for sure find a lot of buyers as it’s used by a lot of industries – even regular consumers need it!
Still have more questions? Don’t worry, we got you! Here are some of the most commonly asked questions about pallet flipping!
Is the Pallet Flipping Business Profitable?
Yes, it is profitable. However, the profits may depend on the amount of work you put in, the quality of the items in the pallets, and the platform you sell it to. Nevertheless, it is and can be profitable.
What’s the Best Place to Sell and Flip Pallets?
As of now, the best place to sell and flip items from return pallets is online. Why? Because you can also find auctions, retailers, and other entities that purchase items from these pallets.
What Do You Look For in Buying Pallets?
In purchasing pallets, you want to look for the following:
- Fair pricing
- Box condition of the items
- Possible item count
Are Return Pallets Profitable?
Yes, return pallets are profitable to the extent that selling them individually will automatically get the price higher against what you paid for them. You just need to find the right items, pallets, and the platform to sell it on.
How Much Are Return Pallets?
Return pallets cost anywhere between $100 and $5,000. This will depend on the type of items in a pallet and where you got it from. Most retailers and distributors are flexible when it comes to pricing, so, purchasing them shouldn’t be a problem, especially if you’re prepared.
Can You Sell Pallets on Amazon?
You can’t sell pallets on Amazon. However. You can sell the individual items you got from your pallets there. Try Etsy, eBay, Facebook Marketplace, and other spaces that accept pre-loved or secondhand items.
Pallet flipping is an in-depth gig that requires knowledge, skill, and dedication. It’s usually more than just selling something.
If you want to be serious in flipping pallets, be sure to check guides out on how it’s done so you don’t sacrifice profit for learning!