B-Stock buyer of eight years, Jeremy Bass, knows a thing or two about starting from the ground up. Since he got his start in liquidation back in 2013, he has rebuilt his resale business four times!
From finding a passion for computers to selling returns and liquidation on Amazon and eBay—and then shifting more to a wholesale approach to electronics and smartphones soon after—Jeremy has no plans of slowing down. In his words, “The name of the game is finding more sources.” With almost 10 years spent doing just that, plus growing his other businesses, Cybertron Liquidation and TechStore USA, Jeremy had a lot of advice. And most important of all, Jeremy is proud to say his late father got to watch his childhood dream become a reality.
Learn more about the beginnings of Jeremy’s resale business, Cybertron Electronics, and how he plans to take it to the next level. In this edition of our Reseller Community Spotlight: Meet Jeremy Bass!
The beginnings of Cybertron Electronics
Q: Do you do this full-time or part-time?
I’ve been doing it full-time since March of 2015. I started in 2013 selling laptops for about a year. Then I stumbled across you guys [B-Stock] and started getting into liquidation more and started selling electronics accessories for a while. In 2017, I started selling just electronics, mainly smartphones.
Q: How did you first learn about reselling?
Ever since I was 12 I knew I wanted to have my own business—my own computer business. From that point on I tried everything computer-related– programming, email marketing, affiliate marketing. When I was 15, I heard about eBay, right then I knew about reselling. Then when I was 18 I started my first business, Cyberworld Hosting. I started going around to small businesses and I would design websites for their companies and then I would host them.
Q: What is your favorite part of this business?
There’s a lot of success with it. In 2017, because of the eCommerce business, I bought an investment property within 15 minutes of seeing it. My dad was a realtor so I’ve grown up with it and flipped houses. We went to look it over, put in an offer, and the bank accepted it within 15 minutes.
I think one of the best lots I ever got was through GameStop. I bought 40-50 NVIDIA SHIELD TVs for $30 [each], with those profits I went to Las Vegas and played in the World Series of Poker. I had the worst luck of my life but it was a fun trip and it was all because of finding the product on B-Stock. I think I spent $1,500 and turned it into $8,000.
Q: Do you/would you consider specializing in a specific type of merchandise?
The Cybertron Liquidation Division is going to be pallets and truckloads of overstock—that’s where B-Stock comes into play. Everyone loves those electronics and accessories. There’s also a local company here that does liquidation, so ideally I will work with them in addition to you guys.
Lessons learned along the way
Pick a category you love
Getting started with resale is easier when you’re familiar with the products you’re trying to sell. In Jeremy’s case, becoming familiar with computers and electronics started at a young age.
“I went over to a friend’s house and saw he and his dad had this box that was open. His dad told me it was a computer. He started telling me all the components inside a computer and at the time— I don’t know what Windows it was— he showed me command line and I was so intrigued. I had an epiphany, or vision, whatever you want to call it, ‘Ah, this is what I want to do.’”
The thrill of the find
You never know what hidden treasures you will find in a pallet of returns and liquidated goods. When so many items get piled onto a pallet, it’s hard to tell what you have your hands on. Case in point: Jeremy purchased a pallet of electronics and accessories in 2016, of a thousand or so items on the pallet, there was also this…
“I only paid maybe $700 and got a bunch of stuff, there were computer WiFi chips in there, on the manifest it said graphics card. When I opened it up, it was the most expensive graphics card at the time. It was the Titan X, which was the first thousand dollar graphics card. I tested it and it worked fine, so I sold it to a local computer store for $900. So I got basically everything on the pallet for free and made $200.”
Create a vast network
It hasn’t happened overnight, but Jeremy talks about the importance in growing a network of people to do business with. And once you are in the reselling business long enough, your network only gets bigger.
“I have a vast network because I’m always looking for sources. I’m also part of this ‘Facebook’ group for resellers and buyers of electronics, so I’m part of that network that has hundreds of companies in it.”
Hiring extra help can become necessary
Lightning-fast customer service will help you close more deals, so think of this as your secret weapon. In Jeremy’s case, he conducts almost all of his business from his smartphone. However, don’t forget you can hire extra hands for your business. Virtual employees help you advertise on Facebook, reply to inquiries, be contracted for customer service, and more.
“I’m a one-man operation; now, I’m going to start getting virtual employees. My hardest problem is keeping up with all the Facebook messaging and remembering all those people [contacts and customers].”
If you’re wondering when to hire some extra hands for your reselling business, check out this blog.
While Jeremy’s wholesale business accounts for a bulk of his overall revenue, international sales are a small piece of the pie. Along with selling to resellers and retail outlets, he has also sold outside the country. This requires international buyers to use a freight forwarder company.
“I have sold to Mexico, Dominican Republic, Europe, Dubai. I leave all the logistics up to the buyer, they use a freight forward company. Once it leaves the U.S. there is no warranty/guarantee because it’s going through so many hands.”
For more information on exporting, head over to Export Education: An Introduction.
Go slow and steady
The example Jeremy gave is this: If you’re going to invest $500 in start-up capital, put half aside, and expect that with the other $500, you will lose it so you don’t get upset.
“Go slow and steady for 3-6 months to get a gist of how everything works with shipping, shipping supplies, how long it takes to do it, knowing your numbers and profit margins. Get comfortable with losing money, that’s part of the growing pains. Get your feet back up on these platforms—everyone starts with zero, you just have to start.”
Cybertron Electronics & COVID
The electronics industry was also impacted by supply chain issues brought on by COVID. However, when we asked Jeremy what that meant for business, he was optimistic about its future. “I plan on expanding in the next few years to take the business to the next level,” he said.
With access to smartphones via B-Stock and other sources, the decision to get into the smartphone market stands, according to Jeremy. Pandemic or not, everyone still needs smartphones. And due to their convenient small size, he is able to ship 30-50 orders in one hour.
“COVID hasn’t really hurt me now. If anything, it’s made eCommerce jump 5 years since everyone started buying online. And smartphones are a necessity nowadays.”
Also part of his plans for the future is to expand his other company, TechStore USA. Down the line, Jeremy hopes to move back to Colorado and open up TechStore USA retail outlets across the country. The setup will be similar to a Best Buy, where he will only sell electronics.
In the meantime, you can find Cybertron Electronics on Facebook. And in 2022, you can find the best electronics pallets and truckloads of overstock via Cybertron Liquidation. We at B-Stock hope to aid even more successful businesses and entrepreneurs like Jeremy!
B-Stock’s Reseller Community Spotlight is an ongoing series that aims to highlight our unique buyers in the B-Stock network.
Are you a B-Stock buyer and want to tell us more about your reselling business? Let us know and we can feature you in B-Stock’s Reseller Community Spotlight series.