First of all, you have to make sure that you look at genuine wholesalers. There are also three main types of legitimate wholesalers:
• Some deal with goods that are damaged, used or are wholesale surplus.
• Others deal with normal forms of merchandise.
• Still others deal with goods that are fake or counterfeit.
Which wholesaler you choose depends on your preferences and how much profit you would like to make in the long run.
Dealing With Wholesalers
When you know what kind of goods you want to deal with you can negotiate prices. There are a number of tips you can follow in order to make the most money out of your deals:
• Take time to research all wholesalers. The Internet is a great source of good suppliers but at the same time, it is also bad. Check out reviews and forums. eBay suppliers tend to have ratings which can be useful guides.
• Generally, you will not pay less than 30% to 35% of the retail price if your merchandise is new. The only way you’ll get around this is if you purchase bulk orders.
• If you want to get a good discount then buy in bulk. However, if you’ve decided to purchase wholesale lots, damaged, surplus or counterfeit goods, you’ll get the best discounts by far. If you’ve opted for the latter, then always take the time to check out the product beforehand.
• Never pay in advance. This is an easy way bad companies scam people. When first trying wholesalers out, this is not a good option. However, if you don’t have a choice, then don’t purchase a large quantity if at all possible. Alternatively, use PayPal: this company only allows the seller to receive the money once you, as the buyer, inform them to do so. In other words, once you have been able to check the product. This system allows both you and the seller to relax more with the transaction. There are still dangers surrounding this, however, so you should still be as cautious as you can.
Finding good wholesalers isn’t an impossible task. But, just as you don’t want to be the victim of a scam or untrustworthy business, so they don’t either. Therefore, if you deal fairly with them, they will generally reflect this back to you. However, always be cautious and make use of vehicles such as wholesaler forums to keep up-to-date with the latest issues and reviews.
Bhupesh Patel is an SEO Consultant & Expert with 8 years of experience in digital marketing. He writes articles, blogs, testimonials and classifieds for his own interest. He is a regular contributor on various domains like retails, wholesalers, digital Marketing, fashion, beauty, software, technology, Entertainment and others.