You may have talked to bikers at a rally or even in your own motorcycle club who say they make a lot of money reselling patches. They purchase them from wholesalers or online at a discount and then resell them at rallies or even on online auction sites. Some do this as a part-time job to make a little extra money, while others have retired and now make selling items at rallies their full-time career. Either way, these people are making money by reselling patches. However, there are a few little tricks you need to know about before you get in to this hobby so you can make the most money without spending a lot.
The first thing to realize when trying to resell anything is that you've got to make sure you're not investing too much money in purchasing the product. One of the tricks to this is to buy these patches wholesale or in bulk. Many companies will give you a discount if you buy 50, 100, or even 500 of an item at once. It's also important to note that you can often save a lot of money on shipping by purchasing a large quantity of items at once. This is also a great way of quickly building up your inventory, too.
When it comes to setting prices, you've got to be careful. Too high and you won't make many sales, but if you price your patches too low, you won't make back your money. Remember if you're reselling them online that the auction website will take a cut, so factor that into your costs. Also remember to set shipping costs at a reasonable rate. If you're going to resell your patches at rallies, you've actually got more costs to account for: travel, lodging, booth rental, and the entry fee to the rally.
