So, you are planning for a startup and are not sure where you should buy your products in bulk. You must first think about what products you wish to sell. It is simpler to look for a wholesale supplier if you have decided which items are you in requirement of. Once you are done deciding, read this article to understand various ways of finding a wholesale distributor.
#1: Comprehend the Distribution Channels of Your Industry
There are various ways for the product to reach the retailer from the manufacturer. Not all wholesalers supply the same market. Therefore, you must comprehend the distribution channels of your industry and know where you fit in the supply chain. This will help you in finding the right wholesale supplier for your online or retail business.
Different kinds of retails are:
- Wagon peddlers or jobbers
- Regional distributors or wholesalers
- Exclusive distributor or importer
- Manufacturer
#2: First try the Manufacturer
Start at the source. This way, you will get the items either at the lowest price or from the most reputable distributors. Either way, you will be at profit.
#3: Minimum Order Requirements
In case the manufacturer does not provide you with the products, he may give you a list of all the distributors that you can contact. Once you get it, start contacting all these distributors to find out their wholesale unit prices and minimum order requirements.
#4: Search for Wholesalers Online
You may begin your preliminary research with basic Google search terms. As you go further, you will naturally become more specific about the items you are looking for. Try some brand names, product numbers, and product names. Go through every result and find the company’s contact details that may include their phone number or email address.
#5: Find out Major B2B Marketplaces
A small business supplier will provide you with a wholesale platform that connects with wholesale sellers. There are plenty of them, who will offer you products at a fraction of price with the same quality found elsewhere.
#6: Join Forums, Industry Groups, and other Professional Networks
Networking will help you find the best possible wholesale suppliers for your business. Once you start building relationships with industry insiders, the day will not be far when you, yourself, are an insider. Build your professional network, subscribe to industry newsletters, build your profile, start building connections and participate in online forums.
#7: Attend Trade Shows
The most powerful method of building and growing a business is to attend trade shows. These events are for people like you – retailers. Talking face-to-face with wholesale distributors and manufacturers will get you the exposure that you can get nowhere else.
It is not mandatory that your first wholesale supplier is going to be your lifelong vendor. To create a perfect supply chain, one must go for the trial and error method. The more errors you make, the more you evolve. After all, business is all about making mistakes and learning from them.
