Knowing how to buy wholesale for resale is nearly the same process as buying general wholesale. The main difference between buying wholesale goods for your use and buying wholesale for resale is the reselling permits involved.
If you work with a successful, popular supplier, these companies often have more stringent requirements than up-and-coming suppliers. Make sure prospective suppliers answer all your questions before you sign on as a reseller. The supplier you partner with is a pivotal moment for your business. Once you have the paperwork completed and a buying process figured out, making wholesale sales becomes rather exciting.
You have a wide degree of control over the products you resell and your wholesale marketing plan. Use these steps to start or grow your business and reach new customers. You can even test them out for a new dropshipping venture. Learn more about buying and selling wholesale with the commonly asked questions here:.
Yes, it is legal to buy wholesale and resell. In order to do so, you must have a wholesale license and a business license that corresponds with your type of company. Make sure you also have an employer identification number or federal tax ID.
This is how the government tracks your business income and assigns taxes accordingly. In order to buy wholesale you must have a wholesale license. This is important for a couple reasons. Two, it reduces and often eliminates sales tax. Most governments treat the expense of a wholesale license as a replacement for sales tax, which eliminates per-unit taxes which add up quickly. Amazon is not a wholesale company; they are a B2B and B2C online retailer.
To find the best possible match for your business, be honest about what you're looking for and don't try to sound bigger than you are. Don't be afraid to let the people you talk to know you are doing research and looking at other competitors as well. This can help you get better prices, even if you are starting out small. If you do an online search, don't just search for general wholesalers or distributors.
Be sure to include keywords from your products or niche. Try product names, model numbers and brand names. If any of the potential distributors you find don't have an email address or phone number readily available, you could do a WHOIS search to find the website owner's contact information.
The more potential wholesalers you find, the better you'll be able to comparison shop and get a feel for what normal industry prices are, as well as get competitive quotes. Since eBay mainly targets retail consumers, the wholesale options you'll find here are usually only suitable for very low volume retailers. But if you're just starting out, eBay might be the easy start you need to dip your toes into e-commerce.
It's also possible that the people who are selling direct to consumers on eBay also have a business-to-business side of their business as well. It's easy to make contact with them on eBay to find out if that's the case. There are many large B2B marketplaces online where you can buy large lots of products at low prices.
Other B2B marketplaces include:. Look for a marketplace that serves your country or region. There are also industry-specific B2B marketplaces; these can either serve a single country or a global population of retailers.
More experienced small business owners in your industry or niche are often the best source of information about wholesalers. However, other retailers likely will not be eager to share supplier information with competitors. Invest time in networking to build the trust and connections that will help you find the best possible wholesale suppliers for your small business. Participate in online forums which can be a great source of free information and help from other people with experience in your market or industry.
You can also build your LinkedIn profile , subscribe to industry newsletters, and join your local Chamber of Commerce or small business networking groups to build your professional connections.
Trade magazines are a wealth of information about businesses and relationships in your industry. Nearly every advertiser in the magazine will be a product manufacturer or distributor looking to reach you, and a single issue of a trade magazine can provide the names of dozens of wholesalers or small manufacturers.
In addition to magazines, subscribe to online newsletters and blogs. These are often the best way to keep up with daily or weekly industry news and updates. Trade shows are one of the most powerful ways to build and grow your business. These events are designed for retailers to connect with distributors and manufacturers.
Trade shows allow you to meet and speak with dozens of wholesalers or manufacturers in a single day. These face-to-face conversations often avoid misinformation or communication difficulties that can occur when contacting people online. The Trade Show News Network is the largest directory of trade shows online.
Your first wholesale supplier may not be a vendor that you work with long term. Creating your perfect supply chain is an evolution involving a lot of trial and error. All Sellers. Check out other product categories. We believe in simplifying the wholesale experience. Our mission is to help local retailers grow their business by offering easy discovery to the right products and wholesale suppliers.
Our straight-forward financial terms and logistics help suppliers to provide more value to service more retailers across Malaysia. Read FAQ. Start your online wholesale ordering today.
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