Finding and sourcing qualified sellers and buyers can be the biggest – and initially the most prohibitive – obstacle for first-timers who want to break into the wholesale and retail game. It helps to remember that Toptenwholesale.com and Manufacturer.com are the leading wholesale directories and search engines connecting thousands of buyers and sellers daily. These B2B directories and platforms were designed to connect buyers directly with domestic and international wholesalers and manufactures. There are over 100 different product categories to search from including: general merchandise, apparel, accessories, gifts, electronics, handbags, jewelry, toys, and more. Toptenwholesale.com and its network of sites (manufacturer.com, wholesaleu.com, offpricenetwork.com) can get you started down the path quickly and efficiently, because aside from technical issues that require specialized knowledge, and other major points that should be handled rather carefully (like taxes and import / export regulations), there is clearly one important thing that must be addressed, in order to really get going with those goals of making an online business or small store a reality:
So… who do I get my products from?
It’s a serious question. Assuming you’ve already found a product, or maybe a range of products that seem to be in demand… a viable market that expresses demand for the product… and as long as the product isn’t currently flooding the market (unless you thrive on the thrill of high-pressure competition), you will need to find a source. On top of that, you’ll need to find one that isn’t going to leave you high and dry when you need support later on.
There’s a lot of different kinds of suppliers out there, and you might want to start with these top categories:
- Dealing with distributors could be the way to go for a lot of choices right upfront, or if you want to eliminate the guesswork of having to put complimentary sets of items together by yourself. It could also come in handy if you don’t fancy doing the paperwork and technical stuff that might need to be done to tie the whole order together when dealing directly with a manufacturer. This way of sourcing goods will probably cost you more, but it might save you a lot of time and aggravation in the long run.
- Discount sellers and liquidators can lead to big savings. This means you’ll have to be pretty flexible, too… since you won’t always be assured of being able to fill repeat orders for something that was an awesome steal last week, and has quickly dried up this week.
- Importers are bringing the goods from far away right to your front door. If you are trying to get goods from another country, this is where you’ll need to look. Luckily, there are some rather firm rules regarding the processes involved in import and export… but it’s all going to be smooth ride or a bumpy one, depending on who the importer is. Larger importers are not as flexible as smaller ones, but tend to be a safer bet. Small companies can give you exactly what you were looking for, but might have their hands tied by some sudden political instabilities or policy changes that they have no power over. I’ve seen this happen a number of times with associates of mine here in China, and it’s a reality you should be prepared to face.
- Distributors are great… but maybe drop shippers are better for you. In the case of large or heavy items, it makes a lot of sense to shave off as much of the overall shipping price as possible, both for logistical and price cutting purposes. This can save you from having to coordinate the transport of goods from the source, to you, then to your customers. It will also save the customer some money too, which makes you a lot more attractive as a seller when your competition seems to always have a higher price point for the same merchandise you carry.
- Go straight to the source… the manufacturers. This is the best route to take when you are hitting high quantity numbers per order. It also leaves you in a position where you are dealing with fewer parties, and this could simplify things considerably. On the other hand, many manufacturers are great at producing the goods you desire… but awful at customer service, after-sales service, and even simple stuff like accounting or invoicing. This could be a problem if you aren’t willing to take ownership of the situation, and handle as much as you can for yourself.
What are you waiting for? Get online and start looking for these sources! Of course I would recommend that you take a little time to browse the numerous categories of Toptenwholesale.com and Manufacturer.com to see some great examples of global manufacturers and distributors who have made the cut, and investigate the ones who have become part of our search results pages. One of the biggest advantages to using a wholesale-specific search engine like this one is the simple fact that your search results are all going to be relevant to the business of manufacturers, wholesale, and retail… instead of returning hits that are coming from popular celebrity gossip headlines and YouTube feeds. You want information that has been put together using the leading wholesale directories and search engines connecting thousands of buyers and sellers daily. These B2B directories and platforms were designed to connect buyers directly with domestic and international wholesalers and manufactures. There are over 100 different product categories to search from including: general merchandise, apparel, accessories, gifts, electronics, handbags, jewelry, toys, and more. Toptenwholesale.com and its network of sites (manufacturer.com, wholesaleu.com, offpricenetwork.com) help buyers to connect directly with the wholesaler or manufacturer of choice, because the Internet is frustrating enough with 80% of content being spam-related… so do yourself a favor and use the tools that will streamline your search! Of course, there is a lot of traditional media you can subscribe to a well, and trade magazines and newsletters are readily available if you like to have something more tangible to read. Making the voyage out to major shows like the huge Canton Fair in Guangzhou, China could offer you a tremendous advantage too.
Be wary, though… there’s a lot of fake stuff in circulation, and after living in China for the past three years, I’m never surprised anymore when I see something new that turns up, no matter how ridiculous it may seem. Doing your research is paramount to protecting yourself, and there are many ways to find out if a business is legit or not. Visit the website, and take a few minutes to move around within it. If it doesn’t seem to be a worthwhile investment of your time, walk away. This extends beyond simply sniffing out the scammers; it’s also a good indicator of which companies have their acts together… or which ones will be a challenge in terms of simple communication, or basic ideologies behind doing business with them. Make sure you do your homework once you find a possible partner. Taking the time to read through policies regarding returns, damages, backorders, and other essential parts of the company’s customer service plan will save you some headaches later. If you notice that the company has a contact number or PO box… instead of a physical location that you can visit… this is a huge indicator of something shady. Of course, nothing substitutes for calling the supplier directly and asking a few questions. If in doubt, you can also take a shot at checking the business out through the Better Business Bureau, Hoover’s Online, or any other background investigation agency.
Finally, besides getting everything squared away in terms of setting up your company and getting a business license and tax ID number… you need to establish payment terms with your new source. Sometimes they are easy to work with, and sometimes you will feel like you need to get certified as a CPA to understand the paperwork. In either case, remember that many of these suppliers will allow you to apply for credit, or set up payment terms that work for you. If you need to know more, try contacting us at Toptenwholesale.com for the answers! Find it. Source it. Profit!
