Wholesalers purchase products from manufacturers and then resell them to businesses. Wholesalers serve storeowners by supplying them with inventory for customers. It is vital to integrate wholesale distribution into your business model, as it provides an easy way to connect store owners with the right manufacturers. In this article, we’ll go over six tips to find suppliers for your store so you can sell your merchandise quickly.
1. Know Your Products
By identifying the products you are selling and all of the details that go into their development, you can determine your ideal wholesaler and make the most of your time and money. For example, if you want to sell local goods and plan to include sterling silver charms wholesale into the mix, you might want to connect with a wholesaler who redistributes locally-made jewelry. Find suppliers who have the connections you need to supply and sell your products to the right customers.
2. Know Your Price
You know the numbers to look for if you have already factored in how much you can afford in wholesale services. Try to negotiate with potential wholesalers as much as you can if you feel they are otherwise a good fit for your business needs. Ideally, you need to invest in yourself and find someone willing to work with your budget so that you can continue this arrangement over and over.
3. Ask If They Are Local
If you are selling your products to the local community, you’re probably going to want a wholesaler who lives in the area to carry out supplies, orders, and shipments. However, if your customer base is not local to you, finding a wholesaler local to the ideal product region is the best situation, as you can get direct shipments from them to your place of business. It will likely be more cost-effective to work with a supplier who is local to you, but it all depends on what you are selling and how these factors play into what is relative to your situation.
4. Are They Reliable?
Read up on what others have to say about using the wholesalers you’re considering. You don’t want to work with anyone who can’t commit to reliable and regular deliveries or who is difficult to communicate with regularly. Working with a wholesaler requires constant communication so that you can both stay on track of orders.
5. Find Potential Manufacturers
In most cases, relying on wholesalers will eat away at our profits more than manufacturers will. If you are selling brand products, the best way to save is to go directly to the product manufacturer. They will either be willing to sell to you directly or through one of their distribution channels. The less people you work through, the more money you will save and the fewer financial mistakes you’ll make.
6. Contact Everyone You Can
The more suppliers, wholesalers, and manufacturers you reach out to, the more options you’ll have for establishing a solid working relationship with one or more of them. You can discuss order requirements, supply regions, and unit prices to develop the best deal out of the bunch. You want to find the opportunity that makes the most sense for your finances, your geographical region, and your peace of mind.
The Bottom Line
By identifying your products and price points, you have a solid starting point for finding suitable suppliers to work with you. From there, consider the supply regions and the distributor’s ability to carry out orders successfully. Use the tips in this article, and you’re on your way to finding the right person for the job!