Is Reselling a Good Business?
Blog: Good eLearning
When exploring new business opportunities, it is always important to consider risks as well as rewards. The Digital Age has created a dynamic business landscape with dozens of ways to get noticed and access new markets. At the same time, potential clients now find it easier than ever to find not only what they want but also plenty of potential providers.
This situation presents both challenges and opportunities for anyone looking to establish themselves with a new offering. Building up products or services from scratch in competitive environments carries a great deal of uncertainty. At the same time, established suppliers are looking for an edge over the competition, especially when it comes to unfamiliar industries and territories.
An increasingly popular way to capitalize on this situation is by ‘reselling’ an existing offering. This allows a business to reach new clientele without having to build suitable products, services, or features from the ground up. It can also benefit suppliers, as it allows them to gain footholds in new markets.
But what exactly does reselling involve, and what are the most important things to consider before getting started? In this article, we discuss whether becoming a reseller is really good business.
What is a reseller?
A reseller is someone who purchases or sources products or services to sell to their customers. This is usually to avoid creating an offering from scratch, though it can also be to expand an offering if the reseller is already established. For example, a consultant specializing in business transformation may expand their offering to sell other services that help support organizational change. This can also be a relatively easy way to make offerings more appealing in competitive markets.
With the growth of online shopping in the Digital Age, reselling has become a far more reasonable and profitable business model. Candidates can set up e-commerce platforms relatively quickly, and the absence of brick-and-mortar stores can greatly speed things up.
Reselling is also an excellent option for established businesses and individuals who benefit from specialist or niche knowledge of a particular industry or demographic. This can give them keen insight into the demands of their market, granting them an advantage over businesses trying to penetrate the market for the first time.
How to become a reseller
With any business venture, it’s always important not to jump in half-cocked. There are several points to consider before making any decisions as a reseller.
- Industry/ market presence – As a reseller, will you be building your business from scratch or adding to your current offering? Consider how much of a market presence you currently have, as this can determine the viability of becoming a reseller. Remember, the less established your offering, the more you will have to spend on elements like marketing, social media, advertising, and so on.
- Distribution – Your offering as a reseller should be based on your current distribution capabilities. For example, becoming a digital reseller will be easier and cheaper if your business already has a website.
- Expectations – What needs or wants will you have to satisfy in the market you are targeting as a reseller? Considering the pain points of potential clients will help you decide on the viability of a particular reseller offering. This is another reason why building on an existing service can be beneficial for resellers, as they will already have knowledge and experience of the market in question.
- Supplier – Consider where you are getting your goods from. Naturally, price and quality should be just as important to you as they will be to your customers! This can be particularly crucial when expanding an existing offering, as the additions may reflect poorly on the rest of your business. The reputation of a supplier can also be important, especially if they have a presence in your marketplace.
- Support – It may surprise you to hear that many companies actively seek out and support resellers. For most, it is a way to access new markets or territories. Better supplies will provide support for their resellers, along with marketing and sales materials. Some can even help you set up your sales platform to expedite the process and cut the costs of becoming a reseller.
- Rules – Becoming a reseller often comes with specific conditions related to points like advertising and discounts. This may limit what you can do with the goods but will also prevent your customers from going to the provider or other resellers for a better deal or vice versa.
Reselling online training
Online training or ‘e-learning’ courses have gained a great deal of popularity in recent years. Statista estimated that the 2019 global e-learning market was valued at almost $200bn USD and set to reach almost $400bn by 2026. Furthermore, a BookBoon study found that 52% of L&D decision-makers feel their training materials are not adequate to meet their needs.
This can make e-learning courses extremely valuable for resellers. They are hosted online (or as part of a mixed package) and are developed by the suppliers themselves. Training topics can also vary widely, with courses targeting audiences from school children to working professionals. Access is also much easier than it used to be, with almost everyone having web-enabled devices such as PCs, phones, and laptops.
The growth of online training as an industry has also brought renewed attention to popular topics. These include professional frameworks, such as PRINCE2, TOGAF, DevOps, ITIL 4, and AgilePM. Not only are these already fairly well known in professional circles, but they are also updated on a regular basis to keep them as relevant as possible – something course providers will follow closely in order to ensure courses are kept up to date.
Becoming a reseller for Good e-Learning
Good e-Learning offers an expansive Global Partner Program for online training resellers. Our award-winning course portfolio sets a high standard, offering:
- Free practice exams
- A free exam voucher and resit per candidate
- Instructor-led training videos
- Gamified quizzes and detailed explanations per answer
- World-class syllabus and technical support
- An award-winning, white-labeled LMS with dynamic reporting for L&D targets
We produce each of our courses in-house with input from highly experienced subject matter experts. This allows us to offer unique insight and training candidates won’t find anywhere else.
Interested in finding out more about becoming a reseller? Contact the Good e-Learning team or visit our website today!