Have you ever wondered who buys your surplus and what they do with it? You might be surprised to find out that in many cases, entrepreneurs are buying surplus equipment and machinery and using it to start and grow innovative small businesses.
There’s never been a better time to start a small business than right now. The Internet has allowed those with an entrepreneurial mindset to find what they need to start interesting and profitable businesses with minimal upfront investment.
At Liquidity Services, we’ve seen countless small businesses use the surplus they bought through one of our online marketplaces to start new businesses and grow existing ones. This blog will share some success stories and explain how both new and established small businesses use surplus to grow.
Military Surplus Helps Two Entrepreneurs Start New Businesses
Government Liquidation is a common place to find military surplus, but these items aren’t just being bought by collectors and enthusiasts – they are also the seeds of some very inventive small businesses.
Take Brad Nelson for example: Nelson is a retired military veteran who outfitted a trailer with surplus dog tag machines he bought off Government Liquidation. He now travels all over the U.S. making and selling his tags at military shows and events. This video offers a glimpse into Nelson’s new business
Or, look at Jon Lockin, a college student who wanted to make some extra money while still in school. Lockin noticed that his fellow students lacked reliable, safe transportation to and from the local bars, and realized this was a business opportunity. He bought a surplus military bus through Government Liquidation and acted as a designated driver for students who needed a ride back to campus after a night out. Lockin explains his idea further in this video:
A great, yet simple idea and a small investment in high-quality surplus goods gave Nelson and Lockin the freedom to start businesses that made them money and let them do something they enjoyed.
How Your Surplus Empowers Small Businesses to Grow and Prosper
When you sell surplus with Liquidity Services, you’re not just getting maximum recovery for your unwanted items. You’re also powering the innovative small businesses that make America great.
Small businesses use surplus for a variety of purposes. In some cases, surplus is used to augment a business’ core offerings. In others, the assets can be the centerpiece of an entire operation, as we saw with Nelson and Lockin. Here are some of the most common ways small businesses use surplus:
- Expanding their offerings. Many small businesses use surplus to obtain new inventory at a lower cost than if they bought the products wholesale from the manufacturer. Buying high-quality surplus goods to supplement other goods is a great way to attract new customers and generate more sales.
- Reselling surplus goods for profit. Some entrepreneurs browse surplus marketplaces to find great items at low prices and resell them for profit on platforms like eBay.
- Using existing expertise and passion to build a business. The above examples are a good illustration of this model. Nelson wasn’t an expert dog tag maker, but he already had the passion for continuing to serve the military and its supporters. He built his business around that passion