Five ways to find your wholesale suppliers

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Looking for a wholesale supplier can be difficult. Finding
one takes an incredible amount of diligence. Also, the fact
that it is a crucial business decision does little to help. A
wrong choice could bring down your business. Customers
don't care where you source your products from and at
what price. They want their demand to be fulfilled
because they are paying a price.

Looking for a wholesale supplier can be difficult. Finding
one takes an incredible amount of diligence. Also, the fact
that it is a crucial business decision does little to help. A
wrong choice could bring down your business. Customers
don't care where you source your products from and at
what price. They want their demand to be fulfilled
because they are paying a price.

To a seller, this demand may seem erratic. But, there are
ways of managing that too. You could hire a drop shipper.
Many of these dropshippers have very little obligations
attached to their contracts.
You can set your mind at what you do best: selling. Leave
the administrative and logistics to the dropshipper.

Network with other wholesalers: Sometimes, you may
require a wholesale partner for a specific new product line
that you have just introduced. For instance, a retailer
selling designer clothing needs a wholesaler for newly
introduced designer shoes or designer jewelry. In such
cases, your old wholesale partner can help. Wholesalers in
related fields know each other and often network. If your
wholesaler doesn't see the other supplier as a threat to
their business, they will most likely introduce you to them.

It is ironic that many retailers will hide the fact that they
are looking for another wholesaler from their wholesale
partner. Just like retailers, these guys have associations
and networking forums too. They have much more
information than you do. If you are on good terms with
your current supply chain partner, use their expertise to
build a better supply chain. They won't mind lending you a
helping hand.

Internet: Ever since the Internet came into existence, the
problem of scarcity of information has disappeared. If you
want to find out about anything, all you need to do is
google it. There are scores of wholesalers over the
Internet. There are online forums where wholesale
strategies and suppliers are discussed and people
collaborate to come up with innovative solutions.
However, there are problems with the Internet too! You
will get a lot of information, but how much of it will be
credible is open to question.

Ensure that you research the source of any information
before you make a decision based on it. This is truer if it is
relating to offshore suppliers. The Internet has witnessed
many scams from the so-called Chinese suppliers. They
will lure you in with discounted prices before they rip you
off. Be careful, and deal only with credible sources, no
matter how lucrative the deal may sound.

Yellow pages: The good old yellow pages are a good
source of information too. There are still a lot of wholesale
businesses that advertise in it. Looking up one will hardly
take any time or resources. But, the returns could make it
worth investing.

Newspaper: If you are not on a tight budget or have a big
business, you could use the newspaper. You could
advertise that you are looking for a wholesale partner and
then invite applications from suitable companies. The
reach that the newspaper gives you is unparalleled. But,
the flaws are the fact that it is only for larger orders. Small
businesses will find it too expensive to use paid mass
media to advertise.

A word of caution: No matter how you source your
wholesale partner, ensure that you conduct your due
diligence. The highest numbers of scams in the world
happen in this arena. Don't transfer money to anyone
before you know how authentic and traceable they are.