When you are starting a new business, it is important to know the range of products which you are going to sell. This knowledge proves useful when you look for a wholesale supplier to buy the products for your business. Listed below are a few useful tips which will help you in finding a wholesale product supplier: ·
Know about the Distribution Sources
For a retail business owner you should be aware of the various sources of distribution from where the products are supplied. This knowledge will help you immensely in determining and finding the right product supplier who is suitable for your needs. The different types of wholesalers are:
Ø Manufacturers: Some products can be purchased directly from the manufacturers.
Ø Sole Distributors / Importers: They exclusively import and distribute some products which are sold either to retailers or local wholesalers.
Ø Regional Distributors / Wholesalers: They buy larger lots of products and sell in smaller quantities to local wholesalers.
Ø Day Jobbers / Wagon peddlers: They deliver small quantities of products to retailers on a daily basis.
You should start your business by selecting a supply source which fulfills your requirements and is suitable for you. You may buy from small wholesalers initially at steeper prices but when your business takes off and large volume of products are needed, you may get better prices by moving to bigger wholesalers. ·
Start with the Manufacturers
Try to buy directly from the manufacturers especially if you are selling branded products. If you succeed in buying directly from the manufacturers, the low prices will be a benefit. In case the minimum order required is too big for you or they sell only through established wholesalers, ask for the list of those wholesale distributors so that you can contact them. ·
Contact and Select Wholesale Distributors
Contact each wholesale distributor from the list provided by the manufacturer, and ask for the wholesale prices of the products and the minimum order required. The contact should be made through emails which should be small, precise, to the point, and friendly. Introduce yourself and your business, ask for product prices and the minimum orders required, and in the end thank them in a friendly manner.
The article will be continued in “The Search for a Wholesale Distributor – Part II”.