Thinking of starting your own wholesale business? Wholesale business is a lucrative business but also entails risks like any other business. So before investing your hard-earned money, here are a few tips to get you started and help you eliminate as much risks as possible:
- Get your necessary tax documents and licenses in order.
- Decide how much you want to buy.
- Find and research your wholesale suppliers.
- Network to find deals.
- Investigate joining professional groups offering wholesale prices.
- Buy wholesale lists at your own risk.
- Start off with a sample unit.
- Don’t be afraid to ask for perks.
- Pay attention to how you’ll ship your items.
- Finally, do your due diligence before you finalize any order.
Don’t have any idea yet as to which company to go with? Alibaba, the leading platform for global wholesale platform, is definitely a good choice.
Alibaba.com brings you hundreds of millions of products in over 40 different major categories, including consumer electronics, machinery and apparel.
Buyers for these products are located in 190+ countries and regions, and exchange hundreds of thousands of messages with suppliers on the platform each day.
One last thought, to ensure that you won’t get scammed by fraudulent suppliers, here are some helpful tips from Alibaba:
- Verify the supplier’s identity.
- Verify the supplier’s manufacturing/trading capability.
- Confirm the supplier’s authorized signatory.
- Order a sample first to check the quality and to ensure that the product is what you are looking for.
- Search for online complaints or comments about the supplier.
- Look for Gold Suppliers that are long-term members on Alibaba.com.
- For some suppliers on Alibaba.com, Secure Payment payment is available.