Business,  Tips & Guidelines

Need to Know about Starting a Small Business Wholesale

Small business wholesale has become a trend, cause it’s a low risk business. And starting a small business has a lot of benefits. Today I will share something of starting a small business wholesale.

What’s Called Wholesaler?

wholesaler

Wholesalers are that buy large quantity of goods from various producers or vendors, warehouses them, and resells to retailers. With the globalization of internet, people can wholelsale products from all over the world, so wholesalers can usually be found closer to manufacturing meccas like Vietnam, China and South Korea.

Benefits of Starting a Small Business Wholesale

Easy to Diversify

Starting a small business wholesale provides you a chance to diversify. For instance, if you are selling women jewelry, you can expand your business and include fragrances, clothes, and shoes.

Once you have the foothold in the market and are a regular supply of customers, you can start expanding out into other products.

Greater Profits and Low Entry Barrier

Sure, some products are going to be expensive. But the whole principle of wholesale is buying goods and selling them on for a profit, so if your business plan is good enough, you won’t have any worries finding funding to get started.

It’s possible to start wholesaling with few costs, however, and many successful companies earning millions of dollars a year started in a small bedroom or basement somewhere.

Get Advantages of Bulk Buying

As every business owner should know, when you buy in bulk, you get a discount. And if you are the person selling in bulk, that means an even more significant discount for your business. When you average out these costs, you can expect savings of up to fifty percent than if you had bought from a third party.

You can take those discounts and enjoy them as profit, of course, but you can also use them to offer your customers a better deal than anyone else, shoring up a significant market share.

Secrets to Making Money in Small Business Wholesale

small business wholesale

There is no rocket science while reselling items from home. Anyone can do this with a little knowledge of the latest trends and techniques going into the market. Here are the major ideas:

Find High-profit Products and Low-cost Suppliers

An important secret of being successful in reselling products from home is finding high-profit products and low-cost suppliers. As you can see from the above list of products, it is evident that they are priced way too economically as compared to Amazon. Here, you can earn the right amount of profit if you have the knack of finding high-profit items.

Unique Products

To get the best out of wholesale products, you have to sell those that are objectively unique and eye-catching. They should be products you cannot easily find them in the brick and mortar stores around you. In other words, you need to command the market by yourself.

Make Use of Dropshipping Model

Another secret is using the dropshipping model. As you know, this model allows you to sell things from home without bothering about the overhead expenses.

All it takes is creating a platform (already discussed above) and simply list the products. No need for inventory or stocking as the dropshipping company will do the rest once the order is placed.

the Product Should Cost Your Customers between $10 and $50

Customers are willing to pay between $10 and $50 without much research into the product. This is called impulse buying. Anything beyond this price, customers become skeptical of the value they get from the product.

This will make them rethink the idea of having to buy them all together. Another secret with this price limit is that many people will afford the product and you will make better sales.

List of Websites to Buy Cheap Products to Start a Small Business Wholesale

Nihaojewelry

Nihaojewelry is one of the biggest and most professional jewelry manufacturers and suppliers in China. They do wholesale business and provide thousands of products to buyers all around the world.

They offer an unparalleled selection of original designs ready to charm and delight your clientele with excellent craftsmanship and creative brilliance. What’s more, they have no MOQ requirement.

A huge inventory of products gives you a stable supply, and 24-hour online customer services make the shopping experience greater. During the COVID-19, they also can promise fast delivery.

DHgate.com

DHgate.com is also one of the most sought-after websites to buy cheap products for resale. It offers more than 30 million products in virtually all the categories you want. Whether it is computers, or beauty products, or even toys, to anything else, you can find them.

One good thing with DHgate.com is that their products are cheap and ideal for reselling. Some have a whopping 50% off. You can also track the items you ordered to know the shipping status.

Chinabrands

Chinabrands is a leading global drop shipping wholesaler from China. They have global reach servicing customers in more than 200 countries. It offers full catalogs, including cheap clothes, bags, shoes, jewelry and accessories, beauty, lace wigs, 3C products, household necessaries, and so on, that more than 500,000+ SKU. Also, new and trendy arrivals added every day.

It’s a very considerate supplier for covering low-end to high-end product lines at wholesale prices. Such as purchase clothing from this wholesale distributor, you can buy tops at $0.29, and the quality is quite good.

Kole Imports

Kole Imports is another website that can offer you cheap wholesale products. The company is exporting products to more than 100 countries globally. To be consistent in this promise, they first have to import products. And they do import only from leading manufacturers.

For that reason, they have partnered with reputable manufacturers to source what is of high quality. This partnering also ensures that they get their products cheaply to shift the same advantage to you. They understand that you are purchasing products to resell, and thus offers you amazing deals.

Alibaba

Alibaba is the world’s largest supplier directory, which is the B2B business model, specifically providing a transaction platform for manufacturers, trading companies, or resellers. There is no fixed price here; the supplier will reply to you the final price according to your orders’ requirements and quantity you sent.

There often is a fairly high minimum order quantity (MOQs) requirement. If you buy a few hundreds of each product, you can consider Alibaba, but similarly, you are working with different manufacturers. Before ordering from China, you’d better check out the supplier’s information.

Wholesale Central

Wholesale Central is a directory for business to the business connection. It is a platform where suppliers meet buyers and where buyers meet sellers. This directory will not allow you to source consumer products. Instead, they only provide wholesale products.

Once you have visited the website, as a buyer, you will search for suppliers selling the items you are looking for. Once you identify the one you like, you then click to visit their website and place an order. This helps you do business with the only suppliers offering the deals you want.

This is because, as a buyer, you have all the information from the suppliers to choose the ones that excite you. It is quite established and trusted that Forbes once highlighted as one of the best B2B directories.

Conclusion

The article has talked about the benefits of the small wholesale business and different websites that can help you launch this business. Wholesale business is the backbone of almost every industry out there. And starting a small wholesale jewelry business is an excellent way to go.

Leave a Reply

Your email address will not be published. Required fields are marked *