Wholesale In Person Newbie Question!

[solefoodbk]

I'm venturing into wholesale. I never thought I'd ever do this so I'm completely out of my zone. I recently moved to NYC and was out an about last night in Manhattan...there is a strip where there are a ton of wholesale shops.

Is there any good hidden thread or things I need to know before I even start? I'm going to start my research on this forum. Keep I'm mind I'm strictly talking about doing wholesale business in person, not overseas.

[JamesNorth101]

Research is key. You can never ever research enough

Best areas to start are often areas that interest you.

[rsot]

And once research is done, pick products that are interesting to you as well - helps you develop passion

[GreenBean]

Originally Posted by solefoodbk

I'm venturing into wholesale. I never thought I'd ever do this so I'm completely out of my zone. I recently moved to NYC and was out an about last night in Manhattan...there is a strip where there are a ton of wholesale shops.

Is there any good hidden thread or things I need to know before I even start? I'm going to start my research on this forum. Keep I'm mind I'm strictly talking about doing wholesale business in person, not overseas.

Wear good shoes.

Lots of door knocking and walking to do.

Be prepared to sell yourself to even be considered to be a client.

Research what you like and go from there.

Only pay what you can afford to lose. Even face to face they will try to con you.

Never forget this:

If it looks too good to be true, then it is likely no good.

Good Luck

[rsot]

Know your limits solefood - budget-wise

[khanxyz0z]

very competitive, did it myself in nyc for about 2 weeks.

[GreenBean]

Not sure I would be walking around NYC in winter when the snow is heavy on the ground

[yankee]

Originally Posted by GreenBean

Not sure I would be walking around NYC in winter when the snow is heavy on the ground

Fires sound more risky! lol

[GreenBean]

Originally Posted by yankee

Fires sound more risky! lol

Aye, when they are started deliberately.

Stood down now.

[rsot]

Nice that it calmed now - fires and snow aside, weather rarely keeps me in

[GreenBean]

Originally Posted by rsot

Nice that it calmed now - fires and snow aside, weather rarely keeps me in

Not about you though is it.

[rsot]

Originally Posted by GreenBean

Not about you though is it.

Not at all - glad you are ok

[pegasus]

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

[solefoodbk]

Originally Posted by pegasus

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

Amazing information. Thank you for taking the time to drop all those gems for us! Very helpful