4 Tips for Buying Wholesale Merchandise Leave a comment
If hoping to source the latest stock for the small retail establishment or online auction trader, buying goods in bulk from a wholesaler is certain to offer the most practical option. A well-selected range of merchandise purchased at affordable prices from the wholesaler is certain to help with increasing the profit margins. Here are four points to consider when buying supplies in bulk:
Website’s legitimacy – Because there is the potential to fall victim to the scam sites out there, it is important to fully check the legitimacy of an online wholesaler. Make certain a wholesaler is established with a solid reputation. Use the review websites or industry forums to read comments and feedback left by fellow sellers. By taking this precaution you can avoid making a big mistake and losing a lot of money.
Quality Control – Using a similar technique to checking on the website’s legitimacy, use the review sites and forums to help decide the quality of the inventory. By reading what others sellers are saying online, you should be able to get an appreciation of the quality of stock. Also, do the necessary checks on the wholesaler’s website to see the type of product guarantees given.
Try to read the small print to see the guarantees given for the less-than-stellar merchandise. Is it possible to return the goods if they aren’t to your complete satisfaction. Terms and conditions vary from wholesaler to wholesaler, so make sure to use the supplier able to offer the more favorable terms.
Compare prices – Prior to making a bulk order of clothes, consumer electronics, auto parts, etc, it is crucial to do the math and find the potential profit margin. It also helps to try different wholesale suppliers to see which is able to offer the most attractive prices. Also, it may be worth making small purchases until you are in a position of making regular sales. This can avoid issues of investing in certain merchandise that you just aren’t able to sell.
Closeout and sale – On occasion the wholesalers offer stock sourced from a liquidation sale or closeout. Even though this type of merchandise can offer fantastic opportunities, it is important to get an idea of why the merchandise is being phrased out. You want to avoid badly damaged or poor selling goods even at the very cheap prices.
All in all, by investing the necessary time and effort into researching the wide-ranging merchandise offered by the wholesalers, you should be in a position of stocking the store with a line of high-quality merchandise that is able to offer the desired profit.
