One of the biggest questions The Wholesale Forums gets asked a lot of time. And if it weren't for us providing the community that we do with all the information you need then who knows where you'd go to find out how to buy wholesale products?
Finding wholesale wares for your business can be easier said than done. While the virtual market has made it easier to put wholesale distributors right at your fingertips, it has also made it more challenging to know which wholesalers will deliver on their promises and which will leave you high and dry.
Indeed, finding wholesalers is just as significant as your choice in merchandise and pricing. Take these steps in choosing the right wholesalers in your quest for inventory that will fly off your shelves.
1. Know Thyself – The first and foremost step is to buying wholesale products is focus specifically on your exact inventory needs. Know the brands that stand out from the crowd in the particular merchandise you would like to carry. Learn about the various features and specifications available so you can choose the model that will be most in demand. Once you have a definite idea of the merchandise you wish to purchase, you can immediately narrow your search to wholesalers that offer that specific item. It also makes it easier for you to negotiate with the wholesaler, since you won't be relying on your supplier to give you advice about which models to purchase.
2. Manufacturer Recommendations - Contact the manufacturer to get recommendations of wholesalers to use. While the manufacturer probably won't sell directly to you, their sales representatives work directly with wholesalers and will be able to give you the names of the best in the business. Simply contact the manufacturer directly and ask to speak to a sale representative. When you are connected, ask for a list of authorized suppliers in the UK. Most sale reps will be happy to provide you with the information, since it is their job to move the merchandise to the sales floor.
3. Consider the Right Distribution Fit - Contact the distributors on the list to find out which wholesalers will be the best fit for you. If you are a small business, you may find that some wholesalers will have minimum orders that are too much for you to handle at this time. Wholesalers will also want to know that you can handle their minimum sales requirements, so they will probably ask you a number of questions about your business before setting up an account with you. Have your basic business information in front of you before you make your call, so you are not grasping for answers.
4. Conduct Due Diligence – Once you find wholesalers who are willing to work with you, research the company to find out if it is reputable and reliable. An effective way to conduct your due diligence is through wholesale forums like ours that allow retailers to exchange information and ideas online. These business owners know firsthand which wholesalers are worth the time and money and which will give you little more than a headache. This is particularly helpful if you are considering an overseas supplier who subscribes to different consumer protection laws than those in the UK.
5. Be Safe Financially – Once you have chosen your wholesalers, choose a safe method of payment for your orders with them. The three best options are credit cards, standby letters of credit, or cash on delivery. Credit cards usually have measures to protect you in the event of fraud, while standby letters of credit make the bank your safety net, with a promise to pay when the goods are delivered and inspected.
These five steps can help you select a wholesaler that will deliver quality inventory to drive forth your bottom line.
Finding wholesale wares for your business can be easier said than done. While the virtual market has made it easier to put wholesale distributors right at your fingertips, it has also made it more challenging to know which wholesalers will deliver on their promises and which will leave you high and dry.
Indeed, finding wholesalers is just as significant as your choice in merchandise and pricing. Take these steps in choosing the right wholesalers in your quest for inventory that will fly off your shelves.
2. Manufacturer Recommendations - Contact the manufacturer to get recommendations of wholesalers to use. While the manufacturer probably won't sell directly to you, their sales representatives work directly with wholesalers and will be able to give you the names of the best in the business. Simply contact the manufacturer directly and ask to speak to a sale representative. When you are connected, ask for a list of authorized suppliers in the UK. Most sale reps will be happy to provide you with the information, since it is their job to move the merchandise to the sales floor.
3. Consider the Right Distribution Fit - Contact the distributors on the list to find out which wholesalers will be the best fit for you. If you are a small business, you may find that some wholesalers will have minimum orders that are too much for you to handle at this time. Wholesalers will also want to know that you can handle their minimum sales requirements, so they will probably ask you a number of questions about your business before setting up an account with you. Have your basic business information in front of you before you make your call, so you are not grasping for answers.
5. Be Safe Financially – Once you have chosen your wholesalers, choose a safe method of payment for your orders with them. The three best options are credit cards, standby letters of credit, or cash on delivery. Credit cards usually have measures to protect you in the event of fraud, while standby letters of credit make the bank your safety net, with a promise to pay when the goods are delivered and inspected.
These five steps can help you select a wholesaler that will deliver quality inventory to drive forth your bottom line.
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