The business of wholesale has been around for ages. In the past you could simply shake a persons hand and solidify a deal, and that deal was set in stone. With the incredible growth of online business you no longer have live near a wholesale supplier - you can literally find someone to supply wholesale products for you anywhere in the world without much effort. However, with the explosive growth of companies that supply products at wholesale to retailers and etailers, it has opened the door for deceitful and poorly organized wholesale suppliers to abound. Unfortunately the days of taking a person at their word in regards to the wholesale business is over.
When using a wholesale supplier for your business, one thing you need to fully understand is that your business is in full control of your supplier. A poor supplier can completely immobilize your business, whether it be online or offline, and tarnish or even destroy your reputation very quickly. Successful wholesale and retail businesses are made by good administration and dependable suppliers.
It's not always easy to pinpoint the undependable supplier or even the outright scam companies. You cannot base whether a wholesale supplier is dependable or trustworthy simply by viewing their website or browsing their hard copy catalog. This day in age it is simply too easy to setup a professional looking website or print out a few color catalogs that look legitimate.
Some key points to look for in a wholesale supplier:
1. Contact Telephone Number. Does this company offer a telephone number? While most do, you would be surprised at the amount of online suppliers that only offer contact via email. While this is not necessarily a reason to not use a supplier - it is something to watch out for.
2. Mailing Information. Does the company use a physical address or a P.O. box for their contact mailing address? Do they even list a mailing address? It is more assuring to know that you can easily locate your supplier if needed.
3. Products. Does the company offer brand new, name brand merchandise at prices that seem too good to be true? Many fraudulent companies lure new customers in by using high in demand products at well below wholesale prices - but either fail to supply at all or offer second rate, used or damaged merchandise.
It is up to you to do your own due diligence to research a company before you even entertain the thought of using your name or company to endorse a certain wholesale suppliers products. While you can possibly research some companies using a search engine, the best way to find out about a particular wholesale supplier is from people who have already used them. Learn from others' experience with a particular company, this is the best way to get a good feel as to whether they will be a good supplier for you as well.
It is also very important that you are able to deliver the goods promptly when you are holding your customers' money.
Screenshot of my PAYPAL account balance
*NOTE: I whited out personal information
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