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3 Basic Steps to Starting Your Wholesale Business

By Jorge Olson

Republish: EasyPublish™
Published: 23Apr2008
Word count: 623
Viewed: 286 time(s)

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The wholesale business is one of the largest and oldest industries in the world. You can date back organized trading to our first civilizations. The most important cities of the ancient world where trading posts that became important because you could control the economy in time of peace and also in time of war.

Now most business trade in some way or another, they trade products, services, something. Now it is easier then ever before to trade products, we have many more sales and distribution channels than ever before, we have many new tools to our disposal and information is easy to get and to transfer.

These days you can use the internet, drop shipping, telephone, email, bank wire transfers and many other resources to expedite business transactions and make it much more interesting for wholesale businesses.

There are many types of businesses you can start, run, or grow. It does not matter where you are in your business, fortune 500 or start-up. You will have a host of information to your disposal including articles, best practices, ebooks, lists of suppliers and how to guides.

Now you don't even have to buy and sell products. Anyone can become a broker and just sell products without providing any start-up capital or investment. This works for selling to distributors, consumers, retailers, anyone.

Are you in business now or just starting a wholesale business? What type of business will you start? What products can you sell and where? How much money do other individuals or companies make? How can you start? These are all questions you should be asking yourself when exploring your venture. They are the most basic questions. Don't just think of buying something and selling it. Learn about your products, where they are sold, who sells them, are they name brands? What are the prices for all channels? Who are the players in the industry?

More difficult questions will include what kind of profit and gross margins you'll make, how to negotiate prices, who are the best suppliers for each product, how to find distribution channels for your items, etc.

The type of ventures you can find or start will include:
-Trading
-Distribution
-Exporting
-Importing
-Liquidations
-Many More

You should also learn about the different sales channels where you can send your products. Here are just some examples of sales and distribution channels you can use to sell your products. Each channel represents a sales opportunity, these will include:
-Online Stores
-eBay -Selling to Supermarkets
-Selling to Convenience Stores
-Exporting to Mexico, Asia, Europe, etc.
-Selling to distributors and wholesalers
-Cash and Carry Stores
-Door to Door at retail prices
-Many More

Where you sell the products will depend greatly on the product and also on the pricing you have. If you deal directly with the manufacturer you can probably get great the best pricing available to anyone and sell to any channel you want including other large distributors. if you are buying the products from second or third parties your prices will not be very competitive.

No matter what kind of wholesaler you are. You have to try to work directly or as close to the manufacturer or brand owner as you can, or better, you can be the brand owner and sell your own products. That's the best business of them all.

You can also find many type products including electronics, software, clothing, jewelry, and sports equipment, house furniture, that you can promote trade and sell.

Remember we did not touch on promotions in this article, just the basics of a wholesale business. Distribution is first but you will also have to remember getting the product on the shelves is one thing, selling it out the shelves is another.

Jorge Olson is an Entrepreneur expert in Wholesale Business and the Sales and Distribution Channels. He's the founder of a Wholesale Products that takes consumer products to market quickly.

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