Finding a reliable wholesale supplier can help you to run an all-round successful wholesale business. But when you are looking for a supplier you need to avoid a few things to ensure you maximise your business potential.
Don’t just choose a supplier based on cost. Of course cost is one of the most crucial aspects of working with a wholesale supplier because if you can purchase goods at cheaper prices you are more likely to make a good profit margin. But this should not be your only decision – you need to think about their reputation and reliability.
Don’t get lazy. It’s easy to sit back and relax after you have found a wholesale supplier but you should always be on your toes. Your supplier might change their pricing or let you down one day so it’s a good idea to be on the lookout for new opportunities and contacts.
Don’t just rely on the internet. The internet has made it all too easy to type into Google and work with what you find. But you can source suppliers and great deals offline too. For more information read our article on sourcing local wholesale suppliers.
Don’t lack knowledge. It’s vital that you do your research on a supplier. As a wholesale buyer you need to know you can return an item if it is faulty and you need to know the supplier is easy to deal with. Search around for forums and review sites and network to find out their brand reputation.
Don’t be distant. If you lack rapport with your wholesale supplier it can lead to miscommunication. If you have a strong working relationship with them you will usually have access to products first and you are in a better position to negotiate price.
