If your business is selling inexpensive items, then you know that you have to sell more to make more.
But what if there was an easier way to earn money each month? There is! By selling products that are more expensive your company can earn more and do less. Read on to learn more.
Understand the Logic
In order to be successful in selling expensive products, you should first understand the logic. When you buy products your markup is usually anywhere between 50% -100%. On a product that costs you $10, your markup would be anywhere between $5 – $10. Assuming you incur a flat rate of $2 in order to sell this product, your profit would be $13 – $18. If you do this 20 times a day you’re earning around $360, which is not bad for a day’s work. But imagine this same process on a $200 product, with a markup of $100 – $400, and a flat sales cost of $40. Your profit would be $260 – $560, which means you can sell less and still make more. Now I bet you’re wondering how in the world can I do this?
Find and Market the Right Products
It all begins with finding the right products and properly marketing them correctly. Start by observing your home, a friend’s home, and the world in general. There are several expensive products out there and people buy them each day. Use search engines like Google to see how much these products are selling for and then find a local or international supplier to source the product. An online marketing company like Social Network MD can help you advertise and sell the products using Facebook Ads, product listing ads, and other forms of pay-per-click marketing.
Make Expensive Products Affordable
Lastly, you can close the deal by offering retail financing. This is just a fancy way of saying your customer can have the product today and pay for it later without any risk to you. The customer applies for retail financing for the price of the products they choose and our company, Financing Your Way, approves them based on credit. Your company then receives payment in full and we work directly with the customer for the remaining payments.