We live in a very dynamic world, a world where young entrepreneurs are `born` every few seconds. It is only fair to give your best shot and try to create and grow a business. And the internet is everyone’s place to do so nowadays. Ok, so you have your idea, but you do not know where to start, right? One serious struggle every new entrepreneur encounters is sourcing products. One thing is for sure, finding the perfect wholesale supplier for the job is not always easy to do.
Today we are going to discuss the basics of sourcing a wholesale supplier for your business to help you start your journey as smooth as possible. So, let’s get started.
What is your primary goal – what are you looking for?
First, you should decide what type of wholesale supplier you are looking for. This will help you in your later researches. Keywords are essential when looking for business partners. So, if you are looking for fashion handbags suppliers or jewellery suppliers, make sure you are searching accordingly.
Domestic or Overseas Suppliers
This is a touchy subject in a way. It depends of course on your location. But let’s presume you live in Europe. Choosing a domestic supplier for your business has its pros and cons as for example:
– Higher quality of the products
– No language barriers
– Fast shipping
On the other hand, it’s cons would be:
– Higher manufacturing costs
– Fewer products to choose from
An overseas whole supplier offers:
– Lower manufacturing costs
But the cons would be:
– Lower quality of the products
– Difficulty in verifying the manufacturer on-site
– Long shipping time.
You found your supplier – What’s next?
We assume Google was a friend indeed this time and you managed to gather a short list of wholesale suppliers you would like to work with. Now let’s see what would be advisable to communicate at first.
When you are composing your email, it is advisable to keep in mind a few aspects like:
– What is the minimum order quantity – you need to make sure their requests are something you can manage, especially when you are just starting your business.
– What is the production pricing – if you want your business to work, you should know how much it costs.
– What are the payments terms – Some suppliers request the full investment upfront, and you should be aware of that.
Have you found your perfect wholesale supplier?
Finding the best suppliers for your business may seem like a difficult task, but it is an experience that will make your business develop harmoniously. If your business plan involves the fashion industry you should definitely check out www.acess.co.uk; there you can find an impressive range of fashion handbags, scarves, purses, backpacks for children and adults and, of course, jewellery. Start your business off right with Acess and enjoy all the benefits of a successful business.