Find a Supplier For Your Online Business – How Multi-Sourcing Can Improve Your Wholesale Business
The choice of a supplier can make or break a buy-and-sell business. Whether you have an online store or a brick-and-mortar store front, finding a reliable supplier of cheap, quality products is necessary in order for you to make a good profit. There are several kinds of suppliers and you have to find the right one for your business. Oftentimes, a combination of suppliers will give you better flexibility and a more reliable and constant source of low-priced quality products.
Salehoo has a wholesale directory list of suppliers who have been pre-screened and verified to be legitimate and reliable. They are classified as manufacturers, wholesalers, dropshippers and liquidators. This classification makes it easy for you to pick out the most suitable supplier for your needs.
Manufacturers offer the lowest prices for brand new products. However, they require a minimum order of lots containing at least a thousand pieces of the product or a big container load of products. Purchasing such a big bulk may not work for you, but it is ideal for big department stores.
Wholesalers usually purchase directly from manufacturers and they break up the lots into smaller ones to sell to retailers and other wholesalers. Prices are slightly higher than those of manufacturers, but you can order smaller lots from them costing only a few hundred dollars. Both manufacturers and wholesalers are reliable sources of products that you can sell.
Like wholesalers, dropshippers offer products at low prices. The main difference between a wholesaler and a dropshipper is that you do not have to purchase the items from the dropshipper in advance. You only pay for items that you have already sold. The dropshipper packages and ships the product directly to your customer. On average, the dropshipper’s price is $2-$5 higher than a wholesaler’s price to cover shipping and handling.
Liquidators are a good source of very cheap products. The items come from liquidation or closeout sales that are held to get rid of old stock or when a store closes down. Prices are usually below wholesale but you have to purchase large pallets or lots. The pallets may contain returned items, damaged goods or old stock but you can also get many items that can be sold very profitably. The main drawback with liquidators is that you don’t know when the products you need will be available. You really cannot count on liquidation sales for a constant supply of products. However, the products that you do get from liquidators are very cheap and you can make a lot of money when you sell the merchandise.
Sourcing out your products from different kinds of suppliers will allow you to get a steady supply of goods at low prices. With Salehoo, you can easily find the right supplier for products that you can sell at a good profit.