How to Find Wholesalers
In USA, it's almost impossible now to have a business without a reliable wholesaler to get products from. When people think of wholesale products, the first country they think of is usually China. However, China is not the only country with wholesale prices, and not necessarily the cheapest either. The chinese market is flooded with american and british businesses looking for cheap items, this in turn, has an effect on the price of items. Many people do not even consider other nearby countries that also have cheap currency rates. While it's true that some countries specialize in certain products, this does not mean that China specializes in every product out there. Thailand for example specializes in furniture and clothing. If someone is thinking about starting a clothing business, chances are, they will check China first. They may not realize that clothing is usually cheaper in Thailand, and they may be missing out on good deals. So in this article, I will explain how to find wholesalers, and a little bit about how the business works.
Why Internet Sources Aren't Good People looking to start new businesses on the internet need to understand that looking for wholesale companies on the internet is not going to turn up great results. You can't realistically expect to get products for super cheap prices on the internet, and then turn around and sell the same products on the same internet. If the items are being advertised as wholesale items and they are already on the internet, chances are, that it's a middleman that is selling them, not the actual source. For genuine wholesale prices, you need to go to the source. Ask yourself this: Why would they sell the items to you for cheap prices, if they are already on the internet and could sell them for whatever prices you plan to sell them for? They know how to use the internet, so chances are, they know everything you know. You need to go to the source, go to the people who don't use the internet and don't know much about it. A plane ticket to asian countries from USA is somewhere between $900 and $2000 roundtrip, depending on which airline you fly with. This may seem like a lot of money, but if you're serious about starting a business, this is a small sacrifice to make sure you are doing things right and getting the real wholesale items. I'm sure you've seen the movie American Gangster based on the life of Frank Lucas. Although he was selling something illegal, he still realized that with any business, to be profitable, you need to cut out the middle man and go to the source yourself. So you should follow his example, but in a legal manner. If you want tshirts at discount prices, and plan to sell them online, then don't look online for them. Go to the source.
Where to Go Once you're ready to get serious about your business, and ready to travel to get things started, you should research the going rates for the products you plan to sell online. Try to figure out what price range for they sell for on the internet. Then draw up a business plan to try to figure out a reasonable wholesale price you would expect to get them for, in order to make a profit. Don't forget leave room in your plans for shipping costs, and customs times. Once you plan everything out, you should plan to take a few weeks off from your job, possibly a month. Then go to the major markets in any of the asian countries. The outside market in the world, for example, is Chatuchak Market in Bangkok, Thailand. Once there, you can walk around and talk to people until you find the products you are looking for. I recommend you hire a translator. There are many women who work in the bars in Thailand. You can approach them and ask if you can pay them to go to the markets with you. Many of them are out of options when it comes to sources of income, so most will be delighted to help you for a reasonable fee. Once you locate what you are looking for in the markets, it will be time to negotiate with the people in the market.
Negotiating Prices. When it's time to negotiate prices, keep in mind that they should make each unit price cheaper, the more you plan to buy. If you are buying 10 gold watches at $900 a piece, then 100 gold watches should be discounted at $850 to $875 a piece, or something along those lines. Also, you may want to include an exclusive contract into the deal. With an exclusive contract, you agree to buy a certain amount of items from the vender, in exchange, they promise not to sell those items to anybody else as long as you are purchasing the bulk amounts each month. Usually, an exclusive contract is not needed until you start purchasing enormous amounts of items. Most venders would not want to have an exclusive contract if you are only purchasing small amounts each month, because obviously they would prefer to sell to other people in addition to selling to you.
Shipping and Customs Now you will have to research shipping and customs arrangements. You may want to read up on importing and exporting, to learn the business, or talk to a person who works in the industry to learn a few pointers. This is not something that can be explained in a single article, it may take a few days to a few weeks to research everything. It's important that you make sure the products you are purchasing are not bootlegged items or copycat items. For instance, if you purchase Nike shirts that are fake, and try to ship them from an asian country to your country, they may be siezed by customs. You will lose the items and will not be compensated, and may even face legal problems. So it's very important you make sure the items you are purchasing are genuine and not imposing on any trademarks.
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