find my bookI own my retail clothes business and make at least 100% profit on all clothes I sell. And I do it not by magic or luck. It happens due to the quality of research I do every time I am buying clothes to sell. The most profound and informative research you can do is with a tool called Terapeak.
Terapeak is a very simple program that gives you very in-depth research about specific items (clothes) that you are interested in selling. This tool is invaluable in any retail business on eBay. Terapeak shows you what is the best day to sell particular clothes , what time is the best to sell the clothes, it also tells you about other sellers and what the likelihood is that you’ll going to actually make a sale, etc.
Terapeak also has a hot list of its own. That means you can go to the hot list first, check what kind of clothes are hot at the moment and where. Then you can do more research about the exact time to sell, for how much you can sell etc.
And all the information there is very very exact, there is no mistake there. You even get the day of the week to finish the auction and time of the day for particular clothes you want to sell. This is extremely valuable information because when you follow the research that you have done on Terapeak you will always make a profit.
For example, I go to Terapeak now and look at the clothes hot list first. I see that word Billabong in the first ten listings. That means that Billabong clothes are something people want. Then I continue my research and put the word Billabong in the Terapeak browser. It shows me that Billabong swimwear are the hottest items at the moment in Australia and Billabong jumpers and jackets are the most popular items in the USA.
Then I check how much (in average) the items go for (retail price). Then I check (make a few telephone calls) to Billabong suppliers and ask them how much I can buy Billabong swimwear and Billabong jackets for. I have a huge list of different wholesalers I have collected over the time since I have been doing my retail business.
Then I calculate the difference between wholesale and retail prices and if I see I can make a profit from this deal I move to the next part of my research. I go back to Terapeak and check what day of the week and what time of the day I will get the best price for Billabong swimwear in Australia. Then I check the same for Billabong jacketsand jumpers but I have to check it from the USA platform for Terapeak.
Terapeak has many platforms, for different countries: US, UK, Australia, NZ, Europe and etc. So Terapeak allows you to check all this info for different products and for different countries. It is very comfortable for a seller because you can sell different kinds of clothing all year around and into different markets.
So when I checked Terapeak for Billabong swim wear it gaves me this kind of result: the best day to sell swimwear in Australian market is Wednesday and Thursday and the most profitable time is around 3-4 pm. So I make sure that all my listings finish on Wednesday-Thursday around 3-4 pm.
Don’t you think I have an unfair advantage compared to all the other sellers around, I bet I do; it is how it works.
For more in depth strategies about how to start a retail clothes business you can find in my book "How to make money while you sleep by selling clothes"