There’s nothing like a table of trendy merchandise to earn vendors a profit. From jumping on the YooDara bandwagon to demonstrating the latest electronic cigarette cartridge, new merchandise often sells itself and is more likely to come in attractive packaging with corresponding point of purchase displays. However, getting started in selling these types of new products raises questions from even the most seasoned vintage or antique vendor whose experience in selling doesn’t transition seamlessly into buying. How does one get started in selling new merchandise? Where can wholesalers be found? Here are a few tips for working with wholesalers to help you start earning a profit with new products.
Top Things to Remember
Find your wholesalers through a trustworthy source. It’s best to go into every transaction knowing that the business you’re dealing with will make you a priority. Other vendors often prefer to keep their sources to themselves, but through websites like FleaMarketZone.com, IndependentRetailer.com and WholesaleCentral.com, you can be confident that the wholesaler you’re working with will help you in a timely and cost-efficient manner.
Have a sales tax ID ready. This tells a wholesaler that not only are you serious about your inquiry, but you also are a legitimate business. By establishing this trust early on in the interaction, the experience will go much more smoothly. Don’t know how to get a reseller’s license? Check out our article here. If a “wholesaler” doesn’t ask you for a tax ID, you’re probably dealing with a middleman who earns his or her profit at your expense.
Don’t expect to see pricing in a catalogue either online or in print until you’ve opened an account with the wholesaler. Prices are intentionally discrete. If your customers were to search online for your product and find the wholesale cost, the chances are slim that they would be willing to pay suggested retail value. This confidentiality works to your benefit, and if you ask the wholesaler about a specific product, he or she will be more than happy to help you through the company’s inventory.
Do ask about price breaks and volume discounts. One of the greatest benefits to working with wholesalers is that these deals are widely available if you remember to ask. Price tiers vary as every seller has a different program, but you will find that some discounts are well worth the time it took to pose the question.
For more tips and tricks, be sure to stop by our publisher’s presentation at ASDLV next week!