Trading Advice

I Want to Buy Wholesale Products – Where Do I Start?

This is a question the team at Wholesale Scout sees regularly. Many people want to buy cheap products and resell them for a profit as it can be a good way of making some extra cash and, as most sales are done online, it can be a fairly easy sideline business to maintain. If you want to buy products at wholesale prices but have no idea how to get started here are a few tips.

Why Do You Want to Resell?

It’s important you assess your reasons for wanting to start a wholesale buying business. Do you want to make this your full time job? Come across a few items you think might make you some cash? Or do you want to do this as a hobby that could potentially make money? Knowing your own reasons for wanting to resell items will help you to come up with a schedule and will help you to manage your time more effectively.

What Products Do You Want to Resell?

If you have come across some items you think could make some profit then you won’t need to consider this. But if you want to start a small wholesale buying business and want to buy products regularly you should consider what kind of products you are looking to resell. Knowing the products you are looking for will make it much easier to find a specialist wholesale supplier. Look at product trends to see what is currently selling well on the high-street. Look at seasonal items that will be more popular during the summer, winter, spring or autumn. Once you have some products in mind you can start looking for them at wholesale prices.

Find Wholesalers

Now you know the products you are looking for you can start contacting wholesalers. Wholesalers will stock products and sell them at trade prices – you can usually get the best discount if you buy in bulk although some wholesalers will allow you to make one-off purchases. Looking for these wholesalers can take a lot of time so why not register with our wholesale directory? We’ve found hundreds of trusted wholesalers offering goods in a variety of sectors so you don’t need to spend hours searching for them!

Resell

Once you have placed your order from the wholesaler you are ready to resell your product. There are a number of ways to do this – sites like eBay and Amazon are a good place to resell online but you could also consider a car boot sale or a market stall. Before you price your item ensure you do your research to find out what similar items are making. Mark up your product and advertise it and wait for the sales to come in!

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