| pegasus | 11-13-2014 11:45 AM |
Re: Wholesale In Person Newbie Question!
Hey,
I have no idea in terms of the NYC wholesale market, however I can give you some advice in terms of wholesale in general and what to expect.
Firstly you have to ask yourself what type of market you want to get into. For example the volum game is when you sale the same stuff as the general population and get into a price war or you can focus on creating your own products by buying the core product and marketing it to your target audience, basically branding it, packing it, developing it etc. This will take time but worth it if you have a solid product.
You have to remember that these places would already be supplying to a lot of people since they have a shop front business model. Therefore, if your target market is in the NYC region you might have many competitors selling the same stuff.
As mentioned above "best area to start is the areas that interest you" you should find a product that you like or would like to Create. Have fun with it, be creative with it, don't just focus so much on the $$$$$$ because that will only limit your vision of the possibilities.
Research is key: do your homework before you even make the first order, I know you had mentioned that you don't want to do business overseas, but it wouldn't hurt to cover all aspects of your wholesale business. You have to remember every cent counts in the wholesale game, espiecally when the margins are tight. That one click on Google to find oversea suppliers could save you $$$ and even make you more $$$. However, there are pros and cons in dealing with manufacturers oversea such as the language barriers, shipping cost, down payment for product development, quality control etc.
My best advice is to start small and learn the game, there are many avenues you can down just think it through.
Good luck with it all,
I | 
