Understanding Liquidation Manifests
Just like as what we have mentioned in the previous blog, this article will dissect the parts of a Honcho Liquidation Manifest and ways on how it can help you grow your reselling business.
But first, let’s understand what is a manifest all about. To simplify, this document lists down all vital information that you need to know such as size, quantity, manufacturer’s suggested retail price (MSRP), brand, UPC code, and other specific data pertaining to items included in the wholesale lot.
- UPC – means Universal Product Code. This is usually printed on a product’s retail label or tag. In retail stores, cashiers scan this barcode at checkout and it contains product data such as brand name, size, color, and product name. For liquidation lots, these are listed in the Manifest List so customers (like you!) can easily look it up on UPCindex.com or UPCindex.net.
TIP: When you want to have an idea on how much you can sell an item for, look it up online! UPCindex.net lists down all the retail stores where you can buy the item you searched for! Use this as a guide on the markup that you want to add on the item’s price.
- BRAND, DESCRIPTION, AND QUANTITY – this indicates what kind of product and how many is included in the lot. This states if the item listed is a dress, pants, skirt, t shirt, cosmetics, and of you don’t have time to look up the UPC code online, looking at the description gives you an idea about the item’s style.
- SIZE AND COLOR – take into consideration that not all sizes and colors are the same. Especially when a manifest list contains individual photos, color may vary due to lighting conditions and device resolution.
- MSRP – manufacturer’s suggested retail price. This is the original selling price of the item. When you go into a retail store, this is the price that you will be paying. Notice how much you are saving when buying wholesale from a liquidation company? This is how much you can sell the product for!
There you have it! Manifest are a gem in the liquidation world. You can see what’s included in a wholesale lot all in one place. It lets you know how much profit you can get even before placing a purchase. Next time you are planning to make an order or you are just planning to start your own reselling business, be sure to check the Manifest Link!