|
10-03-2010
| Junior Member | | Join Date: May 2010
Posts: 4
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0% Longevity: 81% | | About to start my wholesale venture
Hey guys, im about to get back to the states and start my own wholesale business.
I got burnt from ebay in the past (dealing with VeRO items), i bought the ebay Stealth Book and everything, but i figured out you can only have a "real" business if you sell authentic items. I didnt really like the idea about creating multiple accounts and hiding from ebay all the time.
I gathered a list of suppliers i trust and everything, i plan to sell in flea-markets, ebay and find other merchants in my area that would be interedted to buy wholesale.
Does anyone have any tips?
|
The complete step-by-step guide to get back to selling today!
| |
10-04-2010
| | Senior Member | | Join Date: Feb 2009
Posts: 190
Thanks: 22
Thanked 31 Times in 25 Posts
Activity: 0% Longevity: 88% | |
No good tips from me... but good luck! It's always good to see ambition!
|
10-04-2010
| | Executive [VIP] | | Join Date: Mar 2010
Posts: 7,217
Thanks: 895
Thanked 4,069 Times in 2,169 Posts
Activity: 0% Longevity: 81% | |
Selling only authentic items is a great first step, and a very important one. Trying to build a business that will last based on counterfeit merchandise is nearly impossible.
My suggestion is to find a niche and not try to compete on price alone. Don't try to compete with Wal-Mart - you can't. But if you sell a niche product at a reasonable price and have great customer service (or can otherwise add value) you will have a good business that can last.
And it is not only WHAT you sell, but HOW and WHERE you sell it. One woman in Chicago put her daughters through college by selling bottled water. Every time there was a parade or event during the summer, she was there with ice cold water, walking the parade route and selling it for $5 per bottle. That may seem like a rip-off, but when it is 90 degrees outside and there are few other options, it seems like a reasonable transaction.
| The Following User Says Thank You to jeffweico For This Useful Post: | |
10-04-2010
| Junior Member
Threadstarter  
| | Join Date: May 2010
Posts: 4
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0% Longevity: 81% | |
Thanks for the comment, it is true that 'when & when' i sell my items is very important, but x-mas is ahead of us so i predict a good start.
What you said about Wal-Mart is not always true, because you can get alot of stuff for 15%-25% from the MSRP, so if Wal-Mart is cheap and they only make 300% pofit, you can be cheaper and make 200% (for an example, it wont work with every niche)
|
10-04-2010
| | Executive [VIP] | | Join Date: Mar 2010
Posts: 3,363
Thanks: 398
Thanked 1,406 Times in 871 Posts
Activity: 0% Longevity: 81% | |
It ALL Depends on what you really want to sell,,I Have been a Distributor for MANY Years,,,,,and the Truth of the matter is that those 300% markup items are normaly accessories to the MAIN Product,,,,,
For Example a 52in Sharp Lcd TV Wholesales to Best Buy for lets say $969.00,,,they will sell it for $999.00, Thats Right,,,, Consumer Electronics Sell for Markups of 3%-10%,,,,Thats FACT,,,,,BUT the First thing they try to sell you is an Extended Service Plan for AT LEAST $69.00 (as high as $199.99 Depends on item and store) These Plans costs them anywhere from $5.00-$25.00 ,,,,,,,Maybe an Hdmi Cable for $40.00 that costs them $5.00,,,or a Blu-ray Movie for $40.00, that cost them $10.00,,,or how about a Bottle of Water/Soda for $2.00 that cost them $0.40(Best Buys favorite Tactic)
The VERY same thing applies ALL Over,,a Designer Dress, wholsales for 479.99 and Retails for 499.99,,,However a $5.00 Matching belt sells for $50.00, then there is Matching shoes, Purse's, Scarves, Stockings, and the whole Thing,,,
Thats where your Magical 300% Markup items can be found,,,,,,Now your Quest becomes having a Large Enough Variety of them so that your OVERALL Sales of Everything and up to Something,,,,It CAN Be Done Im Proof,,,,
So Take your time and Good luck,,,,,,,,,,,,,,,,,,,,,,,
__________________
The 3 Keys to Success are:,,,,Research, Research, and More Research,,,,,
Last edited by slapped; 10-04-2010 at 10:00 AM.
| The Following 10 Users Say Thank You to slapped For This Useful Post: | |
10-04-2010
| | Executive [VIP] | | Join Date: Dec 2009
Posts: 76,067
Thanks: 5,944
Thanked 8,933 Times in 8,224 Posts
Activity: 100% Longevity: 83% | |
As always Slapped and jeffweico make informed tips.
Sadly, since I don't know much about what you are selling, my only other tip is to be very very careful with shipping. Keep detailed logs - make sure you don't lose on shipping since profit margins generally are razor thin.
| The Following User Says Thank You to rsot For This Useful Post: | |
10-05-2010
| | Senior Member | | Join Date: Apr 2010
Posts: 853
Thanks: 3
Thanked 39 Times in 30 Posts
Activity: 0% Longevity: 81% | | Quote:
Originally Posted by slapped It ALL Depends on what you really want to sell,,I Have been a Distributor for MANY Years,,,,,and the Truth of the matter is that those 300% markup items are normaly accessories to the MAIN Product,,,,,
For Example a 52in Sharp Lcd TV Wholesales to Best Buy for lets say $969.00,,,they will sell it for $999.00, Thats Right,,,, Consumer Electronics Sell for Markups of 3%-10%,,,,Thats FACT,,,,,BUT the First thing they try to sell you is an Extended Service Plan for AT LEAST $69.00 (as high as $199.99 Depends on item and store) These Plans costs them anywhere from $5.00-$25.00 ,,,,,,,Maybe an Hdmi Cable for $40.00 that costs them $5.00,,,or a Blu-ray Movie for $40.00, that cost them $10.00,,,or how about a Bottle of Water/Soda for $2.00 that cost them $0.40(Best Buys favorite Tactic)
The VERY same thing applies ALL Over,,a Designer Dress, wholsales for 479.99 and Retails for 499.99,,,However a $5.00 Matching belt sells for $50.00, then there is Matching shoes, Purse's, Scarves, Stockings, and the whole Thing,,,
Thats where your Magical 300% Markup items can be found,,,,,,Now your Quest becomes having a Large Enough Variety of them so that your OVERALL Sales of Everything and up to Something,,,,It CAN Be Done Im Proof,,,,
So Take your time and Good luck,,,,,,,,,,,,,,,,,,,,,,, | Do you mind me asking what type of goods you distribute?
|
10-16-2010
| | Executive [VIP] | | Join Date: Mar 2010
Posts: 3,363
Thanks: 398
Thanked 1,406 Times in 871 Posts
Activity: 0% Longevity: 81% | | Quote:
Originally Posted by arshavin Do you mind me asking what type of goods you distribute? | Consumer Electronics and Accessories
__________________
The 3 Keys to Success are:,,,,Research, Research, and More Research,,,,, |
12-04-2010
| | Senior Member | | Join Date: May 2010
Posts: 842
Thanks: 30
Thanked 72 Times in 55 Posts
Activity: 0% Longevity: 80% | |
Start your own website if the items are good.
Ok, maybe I want you to do that too because I do SEO. hahaha
__________________
Assume people are stupid...and you are probably RIGHT.
|
12-12-2010
| Senior Member | | Join Date: Dec 2009
Posts: 1,049
Thanks: 90
Thanked 229 Times in 159 Posts
Activity: 0% Longevity: 83% | |
slapped i worked in sales for a major store and had access to the comp systems and could not only see the margins on items but also change then to make deals that were profitable. many consumer electronics are low margin this is true. 3% - 10%
But Lcd Tv's are different. Huge Margins. Some were are much as 30% +
so it depends on what you are selling. But you are not going to get ur hands on samsung and other major lcd manufactures unless you are a bigger chain
|
12-12-2010
| | Executive [VIP] | | Join Date: Mar 2010
Posts: 3,363
Thanks: 398
Thanked 1,406 Times in 871 Posts
Activity: 0% Longevity: 81% | | Quote:
Originally Posted by newtools slapped i worked in sales for a major store and had access to the comp systems and could not only see the margins on items but also change then to make deals that were profitable. many consumer electronics are low margin this is true. 3% - 10%
But Lcd Tv's are different. Huge Margins. Some were are much as 30% +
so it depends on what you are selling. But you are not going to get ur hands on samsung and other major lcd manufactures unless you are a bigger chain | You are 100% Correct,,,I Had a LOT To say about that Exact Subject in this Thread: http://www.aspkin.com/forums/wholesa...tml#post131732
I Made Several posts on the Subject from Post #90 to Post #112
Check it out you may enjoy the Read.
__________________
The 3 Keys to Success are:,,,,Research, Research, and More Research,,,,, |
12-27-2010
| Junior Member | | Join Date: Dec 2010
Posts: 13
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0% Longevity: 77% | |
I have no tips, but good luck.
|
01-04-2011
| | Executive [VIP] | | Join Date: Mar 2010
Posts: 4,522
Thanks: 1,811
Thanked 1,041 Times in 775 Posts
Activity: 31% Longevity: 81% | |
If you're making say 5% profit on electrical goods then you are actually doing well, quantity is the key.
The big retailers will also have loss leaders to entice you into their store, you should use this same tactic.
Don't forget that selling retail can have it's advantages too, you need to think out of the box sometimes.I have never sold vero or wholesale
|
01-14-2011
| | Executive [VIP] | | Join Date: Jan 2010
Posts: 1,007
Thanks: 18
Thanked 129 Times in 99 Posts
Activity: 0% Longevity: 82% | |
Just do more searching as possible as you can ,also try more different products .As long as you work hard for a few times,you will sure fine the suitable product and method to deal with.No people can tell you which product is good,cause there is no fixed product to be always good,it depend on different seller and different time.
But working hard and try more always are right way to go .
|
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | |