If you’re looking for a way to enter into the wholesale mode in 2020, wondering if this can be a game-changer for you and your business…
Look no further. You’re in the right place.
So without further ado, here is a quick breakdown of what we’ll cover:
- What is wholesale?
- Why buy wholesale, plus why is it so cheap?
- How to find/choose a wholesale distributor/supplier?
- What are the legal requirements to buy wholesale products?
- Buying from abroad
- What is wholesale?
There is a simple thought process about wholesale.
Basically, you are selling your goods at a discount price. But the business who’s buying from you is going to be purchasing a lot of goods.
It’s all about a larger bulk quantity, but at a low price.
You can also buy one product, but you need to group it into a wholesale Lot by yourself.
Remember: a wholesaler is not the one that sells small quantities of goods as a retailer would do. And a wholesaler does not sell to the end-user.
You’re ordering in bulk, and then you’re getting a discount.
That’s it, roughly.
- Why buy wholesale, and why is it so cheap?
Firstly, ask yourself: why is wholesale so cheap?
It’s because of the wholesaler – the one that offers the wholesale pricing – purchases from the manufacturer in substantial volume.
A while ago, manufacturers and large retailers didn’t have the right channels to offload their unsold and returned merchandise, as well as liquidation wholesale and surplus inventory.
Today, this inventory is packaged into wholesale lots on marketplaces like BritDeals.co.uk – an online liquidation wholesale platform.
So, why buy wholesale?
Let’s start with a basic principle: if you buy wholesale online, you aren’t dependent on foot traffic.
Second: a wholesale purchase is best made in bulk. Because of this, you pay a discounted price for the purchase.
Then you take those products and sell them at your store at a higher price.
Third: Savings. Wholesale buying lets you avoid everything that comes with buying retail.
Be it from employee wages, marketing costs, all the way up to packaging fees.
Buying wholesale will help you to build more relationships with wholesale suppliers.
This will eventually lead to negotiations for better prices, high-quality goods, and faster shipping.
- How to find/choose a wholesale distributor/supplier?
By now, you are probably wondering what products to sell and where to find them?
Do I need my own store or online shop?
No. You just need to find a wholesale distributor, and this is how you can do it in a couple of steps:
- Using Google
Warning: You need to be patient and persistent since you’ll find yourself going through a lot of pages.
First off, start with different search terms such as distributor, supplier, reseller, and if you are already aware of what kind of products you need – include them, as well.
Make a list of wholesalers, so you can compare prices and conditions to make the best choice.
Write down the phone and possibly e-mail address of the wholesaler so you can contact them directly.
Another easy way to find the right wholesale suppliers is to search for wholesale directories, as they give you an easy access to their list of trustworthy suppliers. An example of a good directory in the UK is TheWholesaler.co.uk.
- Trade shows
If you are familiar with what kind of industry you want to start selling, checking on local tradeshows is the right approach.
You can meet the wholesalers in person, ask them questions, negotiate the prices, and build a relationship with them.
- Social networks and online forums
People who already have experience with wholesaling can be found in Facebook groups (e.g. Wholesale UK), online forums (such as TWF), Youtube etc.
You can engage with them directly through those groups, make a post, and start discussions.
- Liquidation wholesale
Buying wholesale liquidation pallets on wholesale prices is something to consider as a great option.
You can search for liquidation marketplaces and compare prices, terms, and check if there is a way to negotiate prices.
If you are a person that wants to start or expand your business, go and check our BritDeals.co.uk’ website.
We specialize in liquidation sales and surplus inventory.
Want the best products on the market, plus business tools and exceptional customer service?
We are your team. Make sure to visit us and open an account.
- Buying from abroad
Buying from abroad can be a daunting experience.
You can do your research, explore a lot of websites, decide to buy…
and then you might end up with empty boxes, broken items, no refund… and no reply.
It’s strongly recommended that you spend a lot of time researching.
Or go and visit 888lots.com, a trustworthy distributor of electronic goods for the past 15 years.
Author: Bobby Ilchov