Buyers Tips for Developing Successful Wholesaling Relationships
If you think you’d like to have an online store, there are a
lot of things to do to set it up and to keep it running like a well-oiled machine.
One important aspect of an online store is to develop good relationships with
wholesalers. If you are re-selling wholesale bought items, you’ll want to
source wholesalers who are reliable, provide quality products, and you’ll want
to make sure that you’re getting good pricing so that you can make a profit and
sell products competitively. Read on for some tips to help you develop
successful wholesale relationships.
There are many ways to find wholesalers to deal with. Some
people start with a simple Google search, to help them find someone that sells
a specific type of product via wholesale. But this type of general search could
have you searching for some time. You might also look to a dropship and
wholesale directory site, which can help you find many suppliers to compare.
Sites like Alibaba can even offer the ability to send out an RFP (request for
proposal) and let others come to you with their reasons for dealing with them
and their competitive quotes. Sites like AliExpress (owned by Alibaba) can
offer smaller companies wholesale pricing with many options from Asia, where
pricing can be highly competitive. There are also some local resources, too.
Doing Due Diligence
Before dealing with anyone, do a thorough background check
on the company. If you find them on a B2B marketplace, see if the marketplace
offers any statistics on how long they’ve been on the site, whether they have
satisfied customers, whether they’ve been legally verified as being a business,
and so on. Consider checking for buyer reviews online as well as checking for
the company’s website. Before placing a large bulk order and sending money via
Western Union moneygram or anything like that, you want to be sure you’re
dealing with a legitimate enterprise. Some B2B market places now offer escrow services,
which can be especially helpful in protection for both the buyer and the
Start off Small
Consider starting with a small order so you can ascertain
quality and ease of doing business. This
can help you determine the best sources for reselling wholesale product. Not
all companies are going to be great. Not all companies are going to be
scammers. It takes time, effort, and business savvy to sort through all the
options to find a few great wholesalers but this exercise can definitely pay
off in helping you have a successful e-commerce store.
Regularly Review Your Options
One way to ensure your business thrives is to continually research your options for wholesale sourcing. Consider reviewing your business regularly to help you see where you can make positive changes to make customers happy and ensure maximum profitability.
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