With so much information out there on wholesale buying, it can get quite confusing. What exactly is wholesale buying? Who can do it? And what kind of products can you buy from wholesalers? Check out our guide to find out.
What is Wholesale Buying?
Wholesale buying is where a company or individual (sole trader) buys products from wholesalers. Wholesalers have a variety of stock and are able to sell it to wholesale buyers at trade prices. This means as a wholesale buyer you can have access to products that are below the RRP and can subsequently sell them on with a profit. If you want to get into wholesale buying, you usually have to buy products in bulk to secure the best deals – it’s not like visiting your local shop and buying a single item, you usually have to invest in multiple items to be a wholesale buyer.
Who Can Be a Wholesale Buyer
Wholesale buyers (also known as resellers) vary – from small companies to individuals working at home. As long as you have access to wholesale suppliers and you want to invest money in products, you can be a wholesale buyer.
What Products Can You Buy
Most products on the market today are available on a trade basis at trade prices. The type of product you purchase depends on what you want to sell on and where you are thinking of selling your stock. You can source DVDs, MP3 players, televisions, holiday essentials, homeware products, gardening equipment, clothes and more at wholesale prices. For a full list of products you can buy wholesale check out our wholesale products page.
Where Can You Sell Products
Most wholesale buyers sell products online via sites like eBay and Amazon but you can also sell products through your own website. If you want to sell products but don’t want to do it online, you can visit car boot sales or you can sell stock from a market stall. If you are looking to sell at events then you need to look into permits and get the relevant permission. Some events, like car boot sales, require a small fee to set up a pitch so take this into consideration when you are deciding your prices and assessing profit.