Finding wholesale lots online has become much easier over the last few
years, with the emergence of quality wholesaler directories and trading
websites. If you are looking to start selling on Tradeguide24 or expand your
existing business online you should always be on the look out for quality wholesalers
who can provide the latest supplies at the best prices
It is not difficult to earn a fantastic living on the internet buying and
selling goods, the hardest part is sourcing wholesale supplies with good
margins. Carry on reading below to find our recommendations for how to deal
with wholesalers and find the best wholesale lots at the best prices. All you
need to do then is post them on Tradeguide24 or your website and wait for the
sales to start rolling in!
What Is Wholesale?
Wholesale is the purchase of goods from a manufacturer or distributor for
resale. Usually bought in bulk, wholesale supplies are lower in cost as they
have had less markup added by 'middle-men' as they travel down the supply
chain.
Wholesale lots are usually purchased from the distributor, by the retailer,
to sell to the end user. The larger a retailer becomes, the more 'buying power'
they have when sourcing wholesale supplies, so can afford to pass these savings
on to the consumer.
What Wholesale Supplies Should I Sell?
As a startup online retailer you will unlikely have access to the big bulk
wholesale lots like the mega e-tailers e.g. Amazon. You will therefore find it
very difficult to compete with them. You have two choices:
1) Cut your profit margins to stay competitive - you need to be careful as
you will still have overheads e.g. premises, staff, marketing e.t.c. so you
need to make sure these are covered and leave a decent profit for yourself. Do
some research before buying wholesale lots to see if this is possible.
2) Sell niche products - if you can find a niche market that doesn't have a
massive amount of competition from big retailers you can get better profit
margins. Obviously you need to find a market that has lots of buyers.
What Do I Need To Look Out For When Buying Wholesale?
You need to find the right wholesaler as well as finding the correct
product, so you must research both. Don't settle for inferior products, choose
the products you want to sell, research them carefully and then compare prices
on a like for like basis. If possible choose a verified supplier on a respected
wholesaler website.
When you find a potential supplier try and find as much about them as
possible, read reviews, carefully scrutinise their website, ring them up etc.
This is where a quality wholesaler website is invaluable as you will save time
verifying their credentials and get a method of complaint if a deal goes wrong.
Make sure the prices include extra costs like taxes, shipping, credit card
surcharges as these eat into profits.
In retailing there is a saying 'the profit is made on the purchase, not the
sale', aim to get the absolute best price as you will instantly make more
profit and not have to work so hard to sell your products. In the wholesale
business there is no single correct price, there are many factors that affect
it. You will get a better price if you buy more units, if you are good customer
with the wholesaler, if you are better at negotiating, if you pay up front.
Where Do I Find Wholesale Lots?
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