Posts Tagged sources
Locating Sources for your Retail Venture
Posted by johnb in Drop Shipping, Wholesale, Wholesale Sources on November 14th, 2009
If you’re looking to cash in some money from the retailing game, then you should know that the best method to do this is to invest into some wholesale products and then resell them to make a profit. The following will help you in your search for sources for your retail products, including tips on how to make the most of your business venture by sourcing wholesale products and then reselling them to consumers.
1. Market Research
Conducting the proper market research is incredibly crucial for your success when you’re selling wholesale items. Many people enter the market with a blinkered approach and then they end up finding that their product doesn’t have the demand they thought it did. When you begin to purchase wholesale products, it’s important that you choose from a number of products and test out the waters in the market to see how well they sell, and the prices that your products are more likely to sell. Try choosing products from the various categories available to you, this way you will be able to better decide what you should focus your business on.
2. Learn to Negotiate
Once you build up a relationship with your wholesale supplier, you will be able to negotiate with them the deal that you are getting. This means that you’ll be able to negotiate a lower price than you’re already getting by showing your supplier that you’re both an honest and trustworthy customer. Over time, this could make the difference in your success.
3. Make sure yo know who you are dealing with
Before you make any transactions with a wholesale supplier, verify that they are legit suppliers. Meaning, that you should check up on their location and phone number, you should also ring them up to ask them a couple of questions. Many people people end up getting scammed while trying to source wholesale products from legit looking wholesale contact lists only to end up finding out that they the suppliers are fake, and they end up losing lots of money. Make sure that you avoid at all costs any sort of wholesaler that involves oversea transactions through wire transfer.
4. How to Profit from Selling wholesale Products
Once you start to purchase wholesale products, the next step is making sure that you find the best place on the market to sell your products. For most sellers, the easiest way to do this is setting up their store through eBay. One of the advantages to selling your products on eBay is that there is no marketing required since potential customers are constantly looking for products on eBay. Once you get your sources for your retail, eBay will turn out to be your best bet for sales.
5. Consider Drop Shipping
If you are an online retailer, using a drop shipping service is something you should consider since it could streamline your business and greatly reduce costs. There are a number of online sellers which take advantage of drop shipping agreements so that they can avoid storage space of the products that they’re selling as well as to avoid packaging and shipping which in the long run can save a great deal of time and money. Another thing about drop shipping is that money is not required up front to purchase wholesale products, the convenience of drop shipping is that you don’t need to pay a single cent until a sale is made.
The Doba Scam -Is it Real?
Posted by Wholesale News in Drop Shipping, Home Based Business, Wholesale, Wholesale Sources on October 14th, 2009
There has been a lot of online misinformation concerning the Doba scam and allegations of fraud against this internet company and its questionable practices. The reality of the situation is that the Doba scam does not exist, and actually, this internet business and others offer a service that should not be taken lightly.
A lot of people are labeling Doba as a scam mainly because the company provides a service that is subscription based, and this service provides its subscribers with access to low-cost drop shipping through a group of wholesalers. In other words, Doba is a centralized wholesale source. Doba is not an “eBay”, where single items are purchased at a low cost; this service facilitates the business to business online sale of wholesale items to a degree never before heard of.
Because of this, Doba is not appropriate for everyone. A small business that has limited trade or a casual vendor will probably not find Doba to be suitable for them because of the subscription fees that are charged for the service.
Larger businesses, or sellers who want to find a way to source wholesale items without spending too much money or time on the process may want to consider Doba. Doba’s function is to facilitate the process, so that you can get on with the business of selling your products and profiting from the transactions.
The fundamentals of the Doba system can be explained as follows. To use Doba, you must first sign up and then subscribe to the the service. The subscription fee gives Doba its operations expenses, as the prices you see listed for the different products are what the individual sources actually charge for wholesale drop shipping. Doba maintains a solid rapport with its online suppliers, so the prices at which the products are offered are quite often a good deal lower than can be found elsewhere.
After your account is established, you can sign in, and you will find an ecommerce storefront from which you can browse or search for available products. The available products range from brand name clothing to kitchen-related products and computers; Doba is essentially the centralized wholesale source for everything you might need buy wholesale.
You can then select the products that you want to offer in your personal online store, and you do not have to pay for the goods until they are actually purchased by your customers. You will profit when you sell those goods to your customers at a higher price than what you will pay Doba for the products.
The beauty of the system is that you avoid transacting business with the individual wholesalers directly. Your subscription pays Doba to take care of it for you; you order your products through Doba, not the wholesale source. For example, if you are ordering seven different items from seven wholesalers, you submit a single order, and Doba does everything else. It’s hard to imagine why anyone would consider Doba to be a scam when they provide such a valuable service.
Costco Store Returns Surplus and Fraud
Posted by Wholesale News in Liquidations, Wholesale, Wholesale Sources on August 28th, 2009
Costco realized that they were being regularly scammed with false returns (a problem for many businesses)and felt that they had to do something to protect themselves from the large amounts of fraud being perpetrated upon them.
You need to know the history behind the process in order to understand how the Costco returns fraud was possible. wholesale liquidation sources are often contracted by most big stores, like discount or department stores, to take shipments of returns or surplus inventory. Surplus inventory can be attributed to many different factors, ranging from geography to overpricing or lack of customer demand for the item. Surplus inventory is considered when pricing is strategized; it is an accepted part of the retail business.
When it comes to returns, however, the situation changes. Because Costco has a lenient return policy and will take returns on unwanted or damaged merchandise without a receipt, they are very open to Costco returns fraud.
Because wholesale liquidators simply sell overstocks and returns in bulk at drastically reduced prices to the public, there is no way to know if a buyer has purchased at item at the liquidators, gone back to Costco and returned it for a full Costco store credit. While Costco returns fraud costs the company millions of dollars, Costco would prefer to keep their lenient return policy as it currently stands; this unfortunately puts the company in a situation with no apparent solution.
Wholesalers and liquidation contractors actually have an obligation to Costco to remove anything and everything on the packaging of any item they receive from Costco store returns surplus to ensure that Costco returns fraud cannot happen. Label sanitation is when this obligation is fulfilled.
As the wholesale supplier is not allowed to tell you that the products you are purchasing from them are Costco store returns or surplus items, you cannot be certain as to where exactly the liquidation products you are purchasing are originally from.
Removing all of the labels and Costco-specific brand name badges creates a lot of work for the wholesale supplier, but agreeing to take the time to do this extra work is why they are able to buy the items at such low prices from Costco stores to begin with.
Sourcing your products by this process is a way that you, as a retailer, can get great discounts on products to on sell in your store. Costco items can often still be identified even after you remove all of the identifying markings, which can assure your customers that the items they are purchasing from you are of high quality and originally from a trusted store.
Some electronics and similar items from Costco store returns and surplus will arrive at the store of the contracted wholesale supplier with markings indicating that they are salvage items on the packaging. This is to ensure that Costco returns fraud is unlikely, not an indication that the quality of the item is low. Most people these days are doing all that they can to get as good a deal for their money as possible; this means that the small tag will not be considered important enough to deter them from making what they will know to be a great purchase.
How To Build Business Profits Through The Internet
Posted by Scott in Wholesale, Wholesale Sources on July 16th, 2009
Sure, the internet is filled with information, but you probably didn’t know that wholesaler sources can help you make money. These sources are great for finding the best deals on the products you sell and even help you find new products to add to your inventory.
Even if you do not run your business online, wholesaler sources can still help you. You might use the classified ads or even spend time at market stalls to sell your product, but researching for a short time will show you how to make more money!
Finding the right wholesale supply website is key and once you find the right one you will be able to buy your products along with others that are similar. You might sell be linen, but maybe you would also like to sell pillows or comforters as well. Wholesales will do what ever they can in order to help you buy the right products for your business to profit.
You will definitely be satisfied when it comes to the products available when you find the right wholesaler source, and your customers and future clients will keep coming back to buy more. The customers that have already purchased from your previously will give you even more of their trust.
As easy as it may be, finding the right wholesaler source might make or break your business!
Online sale of Computer Accessories
Posted by Dan Blacharski in Home Based Business, Wholesale, Wholesale Sources, eBusiness on July 11th, 2009
Selling computer accessories online is easier than selling the computers themselves. The internet has become a quick and convenient means of acquiring goods from the comfort of our homes, and computer accessories have an impressive online market presence that can be successfully explored by online retailers.
Advantages of selling computer accessories online
It is convenient for consumers to shop for computer accessories online. Since there are thousands of computer accessories products available, it is easier to look for them at online stores that sell a wide array of these items. Consumers can save time and effort, comfortably browsing for computer accessory products at their leisure. One of the best advantages of selling computer accessories online is that online retailers can offer their consumers an attractive online store with suitable visuals and content about specific computer accessory products. This enables online retailers to offer the discerning consumer enough time to read and research about the products prior to purchase.
One of the best advantages of selling computer accessories online is that these are among the easiest goods there are to source. Compared to obtaining the computer itself, it is more convenient and easy to obtain computer accessories from various sources such as online wholesale sellers, direct wholesale dealers, or by purchasing manufactured computer accessory items from the OEM. Remanufactured goods, especially refilled ink cartridges, are also quite popular and profitable.
Shipping is typically straightforward, and does not carry with it the same risks as shipping computers. Low-cost components typically will not need to be insured, and basic precautions (some bubble wrap and a protective container) is all you need.
Disadvantages
One drawback of selling computer accessories online is the fact that these are for the most part, commodity items, and computer users that buy online tend to be quite savvy. They will almost always shop around for the best online deal, and if someone else is selling the same component for a nickel cheaper, you will lose the sale.
Ladies online store, advantages and disadvantages
Posted by Dan Blacharski in Home Based Business, Wholesale, Wholesale Sources, eBusiness on July 10th, 2009
Ladies’ clothing is one of those items in the market that never experience a lull. Markets and malls are full of ladies’ garments, and the array of shops doesn’t seem to end. And now even the internet is full of online stores that cater to the never-ending demands of women. However, selling ladies’ clothing online is a challenging business venture. There are many advantages as well as disadvantages of selling these items online.
Advantages
The best advantage of selling ladies’ clothing online is the endless demand for these items. It is true that a woman can never tire of shopping, and for some women there is absolutely no saturation point when it comes to shopping for clothes. An online store that offers a rich variety of ladies’ clothes can successfully satisfy the needs of its consumers provided it has enough brand visibility on the internet and the ability to grab the attention of potential consumers.
Another benefit of setting up an online store for ladies’ clothes is the fact that these items can be displayed through attractive visuals that consumers can check out in their own time. Online shopping for clothing is particularly helpful for women who don’t have enough time to shop in retail stores.
Many online shops selling ladies’ clothing offer the fantastic option of delivering gifts to consumers’ friends and family. Consumers are able to buy clothes from online stores as gifts for their friends or family and send these gifts through the same online store. This makes it very convenient for women to purchase gifts for each other during special occasions, particularly when they don’t live close to each other.
Disadvantages
Online stores selling ladies’ clothing have to deal with a handful of issues. First and foremost; online shopping deprives one from the pleasure of a firsthand shopping experience. Many women don’t want to purchase clothes that they can’t touch or feel. To see the color of a dress in a retail store is much more satisfying than seeing it online, regardless of how clear your photos may be. The clothing industry thrives on touch and sensations, and unless consumers touch and feel the clothes, they are not fully satisfied. This factor may lead to a higher-than-average rate of returns.
Sourcing
The good news for this business is that ladies’ clothing is one of the easiest types of items to source on a wholesale basis. Clothing tends to have a high markup, and there are numerous wholesalers and distributors that can provide you with good quality products. Many clothing items come from overseas, and if you can tap directly into an overseas source, assuming you are buying in large enough quantities, you can get the best deal.
Making a Tasty Online Destination
Posted by Dan Blacharski in Bulk Drop Shipping, Closeouts, Home Based Business, Liquidations, Wholesale, Wholesale Sources, eBusiness on July 9th, 2009
Food items, done right, can make for a lucrative online business venture. There are thousands of online websites that sell food items, offering everything from pickles to sauces, and everything in between. You can find almost anything to eat in these online stores.
Online retailers who are new to the business of food items will be encouraged by positive consumer responses to these edible products. However it is not always easy to set up shop to sell consumables, and the risks may well outweigh the benefits, depending on your approach and your specialization.
Setting up an online shop to sell food items requires a lot of effort and consistent monitoring on the part of the online retailer; any mishaps could lead to bad publicity and a drop in the profits, and perhaps even legal liability. Selling food items online is difficult, however when done the right way, it can reap big rewards.
Drawbacks of selling food items online
Online retailers will experience numerous difficulties when trying to ship their food items to consumers across the country or even further away. Food items are perishable and therefore the shipping cannot be delayed. Items with a long shelf life are always best to deal in when selling online. If for any reason, the food items reach late, and are almost about to expire, you will be answerable to disappointed customers. Another difficulty in shipping food items is the exorbitant shipping costs. For a new online business venture, high shipping costs could be heavy on the budget, and if you pass shipping costs onto consumers, they may balk at the extra fees. Expiration dates are a huge problem when it comes to food items. One cannot take the consumers for granted; they are immensely vigilant and conscious of what they eat; therefore, online retailers for food items need to make sure that they don’t ship out food items that are dangerously close to their expiration dates or have already expired.
One of the main objectives of online retailers is to generate consumer trust; without trust and credibility, an online venture cannot flourish. Consumers need to feel that they can trust an online retailer, even more so when they are dealing with food.
Selling ordinary food items is a bad business move
Numerous surveys conducted on consumer behavior have proved that selling ordinary, day-to-day food items never leads to desirable results. Remember the dotcom that tried to sell 50-pound bags of dog food online? Most consumers prefer to shop in their neighborhood grocery stores or local super markets for most of their groceries and day-to-day needs. Ordinary coffee that you can get at any grocery store won’t sell easily online. But the more exotic brands that can’t be found locally could be a great opportunity. Instead of the eight-dollar-a-pound French roast, think of the hundred-dollar-a-pound and extremely exotic kopi luwak.
Therefore the biggest challenge for online retailers is to sell exotic or specialty items that are not easily available anywhere else. Putting up an impressive website with attractive visuals of the specialty food items will also go a long way in establishing a successful online specialty food store.
Tips for selling Seasonal Items
Posted by Dan Blacharski in Home Based Business, Wholesale, Wholesale Sources, eBusiness on July 8th, 2009
If you are looking at selling seasonal items during the holiday season, there’s nothing better. This business brings in significant profits as the demand for seasonal items during the holiday season increases, and your cost of acquisition decreases significantly after the season is over.
Advantages of seasonal items
If you can guarantee your consumers high quality seasonal goods that also look good, your business is sure to bring in maximum returns. One of the best parts about selling seasonal items is that you mostly know what the consumer needs. For example, during Christmas time, consumer psychology is significantly predictable and therefore, ideal for online retailers to speculate on what seasonal items to purchase and offer. An experienced online retailer will know what particular kinds of seasonal items are most likely to sell during the holiday season, and accordingly plan out his/her buying strategies.
It’s true that some people prefer to do their holiday shopping way in advance to avoid the last minute increase in prices. However, most people either don’t have the time or inclination to shop for the holiday season ahead of time. Consumers are for the most part, to put it bluntly, lazy. There may be many reasons for this last minute shopping. It could be that people are still saving up their money to do that last minute holiday shopping, especially in today’s economy. They may be waiting for their Christmas bonus. Or, it may just be that people just love to shop during the holiday season. As an online retailer, you can take advantage of this consumer psyche, and offer the best quality seasonal items to your consumers.
Disadvantages of seasonal items
Even though the business of seasonal items can get profitable and highly rewarding, it could also lead to disappointments, and at times the returns may not be as great as you expected. The biggest drawback is the risk of not selling the desired quantity of seasonal items. This could lead to a lot of unwanted stagnancy in your business, and the defining phrase of seasonal items is “make hay while the sun shines.” However, assuming that the products are not dated, you can always warehouse them and sell them next year.
Buying strategy
One of the best strategies for online retailers is to immediately buy seasonal items as soon as the peak season is over. This will guarantee you the best competitive prices for wholesale items.
Instead of purchasing goods on an impulse, conduct a market survey of what products actually sell during the holiday season and then make a final purchase. It always helps to buy unique items, and whenever possible, goods that aren’t easily available and may have been sold out in stores. You have to get into the game early, though! Also concentrate on purchasing those seasonal items that you can buy in bulk. Quantity matters if you are looking at saving time and gain higher returns—your wholesale price is likely to increase as you get closer to the holiday. For building a positive rapport with your target audience, sell only high quality products. This will ensure that they come back to you again the next season.
Guide to selling computers online
Posted by Dan Blacharski in Home Based Business, Wholesale, Wholesale Sources, eBusiness on July 7th, 2009
Online marketing is big business, and computers have never been more in demand. From students to homemakers and working executives, computers have become an integral part of daily life. Considering this ever-increasing colossal demand for computers, it makes smart business sense to incorporate computers into your selling agenda.
Advantages of selling computers online
Selling computers online has numerous advantages. Although they are subject to a certain degree of obsolescence, they don’t go out of fashion like clothing or seasonal items, and even those machines that are a bit old are still in high demand for the budget-conscious buyer.
Consumers buy a great many things online, but studies have shown that computers and computer equipment are among the best-selling category among online shoppers. Your target audience is already computer-savvy and much more likely to buy online. And when you’re dealing in computers, it’s not even always necessary to maintain a large inventory, or even an inventory at all, depending on your sourcing strategy. Keeping inventory to a minimum is always a good idea to keep your overall costs and overhead down. The popularity of online computer shopping has increased substantially, since online computer retailers tend to offer much better prices than brick-and-mortar shops.
Disadvantages of selling computers online
One of the drawbacks of selling computers online is the risk of shipping these products. As sturdy as they look, there is always a chance that bad and clumsy handling during shipping could damage these items. Therefore it is very important to make sure that computers reach their destination safe and sound. There have been cases of newly ordered computers arriving at consumers’ doorsteps in damaged form. Pack them well, or have your shipping company professionally pack the items for you; insurance is also a good idea to guard against the potential of loss or theft.
Also, for big-ticket items like computers, the risk of online crime or credit card fraud is much greater. When taking payments, check for valid details and verify the card. Most online computer stores insist on taking full payment in advance before delivering the required product.
How to obtain the products
Sourcing your computers for resale can be easier than it sounds, and you don’t have to have a big contract with a major manufacturer. There are several sources you can acquire computers from, including direct wholesale sellers, or through strategies such as closeouts or purchasing manufactured goods from the OEM. Some online computer stores also deal in second-hand computers, and this too, is a good business model to consider. When consumers buy new, they often have a perfectly good machine sitting in the basement—and this gives you an opportunity to buy cheap, sell at a reasonable price, and still reap a good profit.
It is Easy To Find Wholesale Watch Suppliers That Offer Closeout Pricing
Posted by Dan Blacharski in Closeouts, Home Based Business, Wholesale, Wholesale Sources, eBusiness on July 3rd, 2009
Ever given any thought of watch retailing? Have you thought about selling them in your own store, or online? Since just about everyone needs a watch to be keep abreast of the time, watches are now, and will forever be, in high demand. Jewelry, like watches, are usually bought to match occasions and moods by people. Watches are bought by people in different colors, sizes and shapes, as well as watches for different occasions. You can purchase watches for many different things, like meetings, partying, and everything in between. People will often change their watches as their tastes change. Watches are often kept in people’s dressers so that they are available for various occasions. There is quite an opportunity to be had in the business of selling watches. If you find yourself interested in this scenario, you need to know where to get wholesale closeouts, which are companies that can supply watches that you need.
A very good supplier is needed, as well as one that has quality high end products to buy. Having a great place to get your inventory is important, just like any other liquidation or discount merchandise. You must have the very best watches at fair prices, so you need to only work with suppliers of the highest quality. It simply takes too much valuable time to have to deal with bad products and mad customers. The hardest part is finding a descent wholesale watch supplier. When shopping for wholesale watches, many things are very important.
One of the first things that have to be determined, is how easy it is for you to talk to your supplier. You must find out if the supplier will be able to send the watches to you in a timely and efficient manner. You need to know if the supplier will be able to send you shipments with very little notice. Make certain that you will not have to wait for weeks for your shipment to arrive. In addition, find out if real time communication will be possible with your wholesale supplier. When searching for a company, find one that offers real support through customer service, as well as online.
The quality of what you are buying is the next thing to think about. Your liquidations wholesale supplier should be able to offer you durable and reliable items, as this is important in any sales venture. The ability to find a low cost and reliable supplier, instead of several different suppliers, will help you avoid having to order and mange products all of the time. You need to be fully aware of the brands that these closeout companies have and keep in stock. Ask them how much can be shipped to you at one time, and also if they have drop shipping to your customers available. Make sure that there are no minimum orders rule that has to be adhered to at all times. You should make certain that you are in the position to take action when any changes in the market happen,and these things are important for that to be possible.
Is it important to know the exact brands that your wholesale supplier stocks? A lot of weight is put on brands that customers purchase. For some, a certain brand is the only one they will consider. You must learn the brands that are in the highest demand, and find suppliers that can sell these to you at the best prices. The brands that you display need to be of the highest quality, so that potential customers will learn to respect you and what you sell. Your retail closeouts store will need to be known as a place to get the kind of high quality watches they expect to receive.
You should know the terms of sale as well when you begin to buy inventory. Credit advancements are also great to have when you need to have your money free, so seek closeout suppliers that offer this service as well. Until many purchases have been completed with them, you will probably not be able to get credit. Being able to have the products displayed on consignment is also a wonderful advantage. Ask about this before deciding on a wholesale supplier. These deals are not as hard as they seem to achieve. However, there are suppliers that have such small margins, they cannot do this for you.
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