You don’t go into retail business and buy the products you sell through retail buying. That would be a long, dragging roam around the bush before you actually get the profit you desire. And that’s not even an assurance. If you plan to be a retailer, buy wholesale!
For newbies in the retail industry, it can be confusing trying to decide from which wholesale store or dealer you should be sourcing the products you want from to sell. In a highly competitive business battleground, choosing a reliable wholesaler you can trust is no walk in the park. It’s a decision that needs time, effort, right information and proper brainstorming, for the sake of your business’s future.
Having the following tips to aid you, choose your wholesaler and start paving your way to a flourishing and successful retailing business.
ASK:
What am I going to sell?
You can never be a good seller if, in the first place, you don’t know what you are selling. Sell something that is already within your interest or something you are fond of using, so you need not take too much time learning about a product. If you have substantial knowledge about the product you are selling, you can be more truthful and reliable as you do your sales talks since you have first-hand experience about the product. Of course, make sure you target the needs of a majority of people or ensure you have an established target market.
Who are the people I can consult and ask? Where should I look?
Once you have finally decided about the product or group of products you will be selling, then look for friends or acquaintances that can give useful and honest suggestions on where you can look for a trusted wholesaler or how you can go about buying cheaper and quality products to be sold.
Either you can search online and buy wholesale goods from online wholesale shops, or you can go directly to the manufacturer. You may ship products from China where certain popular products are known to be processed. You can contact other online wholesalers and do meet ups. You may also get in touch with distributors as they can present you a wide array of products you might want to choose from.
Make sure to have sufficient background about the wholesalers you plan to contact. And be meticulous as much as possible. Once you see something shady, then don’t continue. Be very keen to details and always listen.
Do research in the Internet; enter online forums; read comments and opinions; search directories; learn about current market trends; watch out for ads in the TV and papers; ask expert retailers for advices; and try to be as equipped as possible. Use the many resources you have to kick off a great start in your retail business.
Establish contact
Contact the wholesaler/s you have chosen once you feel you have done all efforts and exhausted all resources. Make sure you do that AFTER detailed and comprehensive research and deliberation. Better be safe than sorry!
Ensure a good business relationship with your wholesaler
Once you’ve already had a series of successful transactions on your new point of sale (POS) system and everything has generally gone smooth, then make sure you maintain a good business relationship with your wholesaler/s. Create a good synergy with them. In that manner, you will have great teamwork and you’ll both do great even in your individual business endeavours. It still boils down to establishing good relationships, which has always been a human requirement for success in any field.
About the Author: Debra Wright enjoys a multi-hyphenated identity. She is an online marketing specialist, writer, cat lover, and aspiring cupcake critic. Wright’s articles about Wholesaler draws on her passion for learning and dedication to share her discoveries to others. Get updated on what she’s discovering now @debrawrites.
Cover photo credit: Sanctu
