- What is wholesale?
- Why choose to wholesale
- Top5 wholesale vendors in China
- Top5 wholesale vendors in the USA
- Top3 wholesale vendors in Mexico
With the current financial situation worldwide, the reality of having multiple streams of income is checking in with a lot of people, and a considerable number of people are looking into the wholesaling business to supplement their income.
In contrast, for some, the business is the primary source of livelihood.
The wholesale business has been around for a long time while before the transactions were done physically; the current wholesale model has shifted to eCommerce platforms, which have resulted in ease of doing business.
What is wholesale?
A wholesale business is one where goods are bought in bulk and sold to retailers who then repackage and sell to the end customers as individual units.
Since the goods sold on wholesale are in large quantities, they are bought at a lower price per unit to enable the wholesaler to make profits off the sale.
With the changes taking place regarding how business is done, the wholesale business is also changing.
Some manufacturers offer shipping products directly to retailers through a business model known as dropshipping.
Before starting a wholesale business, we will look at some of the factors you need to consider;
Identify a niche
Although the wholesale business gives you a little freedom to choose various products to sell, it is especially important to have a specific niche of products you are supplying.
Niching down is necessary, especially since you will be looking for manufacturers to provide you with goods.
Having a niche will help you narrow down on the significant number of available options, saving you time.
Identify the market for your product.
Since you will be dealing with retailers, having an idea of your market is essential.
This will mean interactions with retailers to find the needs of the overall market. If you are looking to supply fashion pieces, you need to be aware of the current trends since the industry mostly changes according to the season and directions.
By the way, Google Trends is a good tool to ensure what to sell. Please click and check this article for steps.
Identify a location for your warehouse.
Some wholesale merchants prefer to run their business from their homes, but this is not the best strategy as you will mostly be constrained in space, and the business will only stock a small number of products.
Having a warehouse will allow you to expand and stock many goods without having to worry about space.
The warehouse location should be easily accessible and safe to allow you to run your business smoothly.
Find suppliers for the products.
The supplier is an essential party in a wholesale business.
Without the product, there is no business, so choosing the right supplier is critical for your business’s success.
There are numerous suppliers of products worldwide, so you need to research thoroughly to find one that can work for you.
The supplier should be able to supply you with a quality product at affordable prices.
Use inventory software
Previously a wholesale business included a lot of paperwork and sorting from time to time.
Numerous applications are currently accessible to manage the stock and the different logistics in a wholesale business.
Having inventory software will help you track the goods, which is essential when giving schedules and quotations to the clients.
Set up a website
In this eCommerce era, where almost all transactions are performed online, it is vital to have a website that you will use to sell products. This will make it easy for customers to reach you and order products.
Market your business
A successful business is one that has an efficient marketing strategy.
Marketing is the only way to ensure that you acquire customers the more customers you will have the more sales you will make therefore you need to ensure that your marketing is done extensively to allow for a large audience to be informed about your business and the products you are providing.
Why choose wholesale
There are several benefits of wholesaling; apart from the profit a wholesaler gets from selling items in bulk, the business has other advantages which we shall take a look at;
- The wholesale business provides retailers with goods in large quantities for resale.
- The business covers a wider geographical region, and hence there is a broad diversity of products.
- Wholesaling offers convenience as it cuts down the number of contact providers needed.
- Wholesaling provides access to products that would otherwise take a long time to source.
- Wholesalers can choose products that will sell quickly based on the trends by studying consumerism trends.
Top 5 wholesale vendors in China
If you are looking to get into the jewelry business, Nihaojewelry is the place to look.
The company manufactures the latest jewelry trends at inexpensive prices.
With no minimum order quantity, you can purchase the number of products you want to enable you to run your wholesale business efficiently.
Nihaojewelry ships products worldwide and offer options such as dropshipping that will allow you to run your wholesale business without having to hold stock.
Plus, they launch a new page for professional wholesale clothing-Nihaostyles.
Aliexpress is among the largest eCommerce platforms that connect many Chinese suppliers to a worldwide market.
Since China is a source for various items, the products are sold directly from the source, but since you will deal with many vendors, you need to narrow down your options and find one or two that can supply you with goods in bulk.
Just like aliexpress, DHgate is an online platform where suppliers list their products and connect with buyers; the platform hosts a variety of manufacturers and suppliers who sell products usually at a very affordable price.
The products offered range from women’s clothing, shoes, and electronics, among others.
If you are keen on trendy fashion pieces, you must have heard about Shein; apart from the massive marketing campaign the company has, the goods sold on the platform are favorites among women all over the world.
Shein produces quality products at affordable prices with frequent sales and discounts.
Zaful is also a favorite among influencers for providing quality and trendy men and women’s outfits at affordable prices.
The pieces are sold both in bulk and as individual units, with new pieces being updated regularly.
Sourcing products from Zaful is a sure way to get products that will sell quickly.
Top 5 wholesale vendors in the USA
The USA is also known for producing original products for wholesale.
Most wholesale vendors across the USA have been around for a long time, while some are coming up recently.
eBay is among the oldest eCommerce platforms available today.
The site consists of many suppliers across the world that provide quality products at affordable prices.
The site has excellent customer service to help you out when making purchases.
With the years of experience that the company has had, the systems that have been put in place enable buyers and sellers to interact efficiently.
Amazon is a website just like eBay that connects customers to suppliers, and hence there is a variety of products to choose from.
The company was started in the USA but had branches in some other countries to ensure that its demand is met.
Amazon provides that the products sold are of acceptable quality standards and current trends; the site has structures to facilitate efficient shipping and delivery of items.
Rosewholesale is among the largest clothes wholesalers in the USA that deals with the wholesale supply of trendy outfits; the website includes men, women, and children’s clothing at very affordable prices to ensure that you get profits from the large purchases.
ioffer is an online marketplace that supplies various items ranging from women’s and men’s clothing, electronic appliances, antiques, and art.
The items are sold at affordable prices, and the purchase and payment options on the website are reliable to ensure that you have a smooth shopping experience.
Launched in 2008, Tasha apparel is a wholesale clothes supplier for various high street boutiques, retail stores, and online stores.
The company provides key fashion trends at affordable wholesale prices, with a reliable online platform that allows for a comfortable shopping experience.
Top 3 wholesale vendors in Mexico
This is a wholesale clothing company based in Mexico that supplies a wide range of dance clothes for women across Mexico at affordable prices. Some of the pieces sold include leotards, skirts, sweaters, and ballet clothes, among others.
Manta del lago
Manta del lago is another clothes supplier in Mexico that provides both men and women’s clothing. The company supplies the latest apparel trends across Mexico and the neighboring countries, including the USA and Canada.
The company supplies crafted blankets and shawls made in Ecuador. Since the Mexican culture includes the crafted blankets and ponchos, the demand for the same is constant, and so the company ensures that the products sold are authentic and top quality.
Finding legitimate wholesale vendors is essential for the success of your business; you need to be sure that the supplier you choose to work with will provide you with the best quality products at affordable prices to ensure you make sufficient profit.