How to Source Wholesale Goods

If you are planning to start a brick and mortar or online shop, you will need to investigate the availability of wholesale suppliers. Locating the right products is often a daunting prospect at first as there are several essential points to get right. Here are several steps to consider in the process of stocking the store with the most attractive goods –

Decide on the goods

A significant aspect of establishing a successful retail store comes from deciding the right products to sell. It is often helpful to look at the more unique goods rather than those items already flooded in the market. It can be extremely competitive in a saturated market, which is likely to make it harder to sell the stock and make a profit. Conduct the necessary research online to see which products are trending or selling well. If you are planning on opening a physical store, it certainly helps to research the local market to see what is already in place. An online store is likely to give you more flexibility in the items you can sell as the potential market is so much wider.

Where to start looking

An ideal destination to start the search for goods online. Whether you use the wholesale-specific or general-purpose search engines (Google, Bing, or Yahoo), it is quite easy to access many quality outlets with little time spent on- line. Other options include trade shows, print directories, or retail forums. Visiting the retail forums will certainly help get more ideas on the options available on where to find the most attractive goods to sell.

Select the type of supplier

In the process of finding the goods for the bricks and mortar or online store, it is also necessary to determine the most attractive type of wholesale supplier. Below are some of the most popular options –

Manufacturer: A common choice for buying the wholesale goods involves contacting the manufacturers directly. A requirement to invest in a high minimum order is a likely requirement, which is often a problem for small-scale retailers. A local distributor is more beneficial to the smaller retailers.

Distributor: A distributor is often found to stock a range of category-specific products, such as consumer electronics, manufactured by several different companies. The advantage of using the distributors is the ability to access stock from a variety of different manufacturers in acceptable size orders. However, this often means that the prices are slightly higher compared to the direct route of using the manufacturer.

Liquidators: Provided you have some flexibility in sourcing stock and not after a specific item, a liquidator is guaranteed to offer many products with some pretty significant savings. It is often seen that end-of-line stock offers savings of around 65% along with regular wholesale prices.

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