Do BOLO brands actually matter in reselling? This is a commonly debated question within the reselling community that many resellers have mixed opinions on (and for good reason). As a reseller who has sold both BOLO and non-BOLO brands over the past 10 years, I thought that I would share with you my insight on this topic in hopes that it may help you in your reselling journey.
What is a BOLO Brand?
First and foremost, we need to start by discussing what a BOLO brand is. In the reselling community, BOLO stands for “Be On the Lookout For.” So when it comes to brands, a BOLO brand is a brand that you should be on the lookout for while sourcing. It is very common to hear this phrase used within the reselling community on social media and YouTube. Although many resellers share BOLO brands with good intentions, the heavy emphasis placed on these brands on various social media platforms has caused some resellers to focus too heavily on BOLO brands when reselling.
The Problem with BOLO Brands
Something that I have noticed within the reselling community in recent years, especially on social media, is the heavy emphasis placed on BOLO brands. There are two sets of beliefs that I have observed as a result of this: (1) Selling BOLO brands is necessary if you want to be a “successful” reseller and (2) If you find a BOLO brand when sourcing, then it will guarantee you a quick sale with good profits. As a reseller for over 10 years, I find both of these beliefs to be problematic. (Read more about that HERE).
How I Approach BOLO Brands
When it comes to BOLO brands (or brands in general), I like to view them as a small piece of the reselling puzzle and not the entire puzzle itself. In my process, I utilize BOLO brands the most when I am sourcing for items to resell. Locating BOLO brands while sourcing can be a great starting place especially if you are unsure of where to begin but each piece still needs to be reviewed individually before purchasing the item for resale.
My Process for Sourcing Using BOLO Brands
When I go sourcing, my first step is to look for items based on brand or a current trending style. My reselling business does focus on a particular niche and price point so brand does play a role in my business model. In my business, finding a BOLO brand can signal a quality item with a potential for profit but it doesn’t guarantee that an item will sell quickly or for a high profit.
Once I find a BOLO branded item, I immediately focus my attention to the individual qualities of the piece and remove brand from the equation. Just because an item was made by a particular brand does not mean that all of the items from that brand hold the same resale value. Each item by a brand needs to be reviewed individually to determine its’ individual resale value. [NOTE: As a reseller gains experience with different brands and/or styles, it becomes much easier to distinguish the value of items].
I find it helpful to have a mental or physical checklist of criteria necessary for me to purchase an item for resale. Each reseller’s checklist will be different and be relevant to their individual niche. Some categories that I review before purchasing an item include: (1) Cost of Goods, (2) Style/Trend Criteria and Consumer Demands, (3) Business Category Needs, (4) Business Sizing Needs, (5) Potential Profit Margins, and (6) Seasonality.
Once I have worked my way through my checklist, I will either confidently decide that an item is worth purchasing for resale or run comps to double check any items that I am unsure of and make a final purchasing decision.
Now back to the question: Do BOLO brands actually matter in reselling?
When purchasing an item for resale, I find it much more important to look at the item as a whole and not focus solely on the brand. There are many items out there that sell quickly and for great profits that are not from BOLO brands. (Read more about that HERE). BOLO brands can act as a guide when you need help sourcing and help you to find quality items. However, they are only a small piece of the reselling puzzle and should not be given as much emphasis in the reselling community.
I hope that you find this post helpful! If you have any questions or just want to chat, please reach out!
If you don’t already, be sure to check out my Instagram for more Reselling Tips at @ RecycledRosesGuide (Click HERE) and my Facebook page HERE.
You can instantly shop all of my looks by following me on the LIKEtoKNOW.it shopping app HERE.
To get email notifications for my next blog post and to receive my monthly Reseller Recap (with freebies), sign up for my emails below:
Baci,
