If you are buying products from wholesale suppliers here are some things you should know before you make a purchase.
Website
Not all wholesalers will have a website but many do and they are a great way to research the wholesale supplier and to find out more about their business. Not only will you find product descriptions and pictures on supplier websites but you can normally find out about their latest deals including special offers and discounts.
Reviews
There are so many wholesalers out there that, unless you are using a wholesale directory and contacting trusted suppliers, you could end up contacting one that is unreliable. To ensure you start working with a trusted wholesale supplier you should do some research and look for reviews from other resellers. Reviews from other resellers will give you a good insight into delivery times, reliability and pricing.
Product Selection
You need to know what products a wholesaler is offering before you purchase from them. If you are looking for a specific product you should try to look for wholesalers specialising in these products as usually they will have access to the best prices.
Product Availability
Product availability and delivery times are crucial to helping you to achieve an increase in sales and profits. If you are trying to react to a product trend, if you are trying to resale items at an event or if you are reselling products online that are particularly popular then your orders are time sensitive. If you order stock and receive it too late you could miss your selling window. Also if the product you are sourcing loses interest from consumers then it could mean you have to drive your resale price down if you don’t receive it in time. Look on the wholesaler’s website and contact them to find out about delivery times and costs to ensure it’s the right supplier for you.
Prices
You should find out about prices before you purchase from a wholesaler as this will allow you to calculate the potential profit on each unit. Knowing the product price will also allow you to look at other wholesalers and to negotiate wholesale prices. Most suppliers will offer good rates on bulk orders or pallets of stock but you can also secure good rates if you are a repeat customer and know how to negotiate. For more information on this read our wholesale advice article.
