Six steps to start wholesaling
Wholesale can be a very effective way to rapidly grow your product business, but it needs careful management. In this blog I'll be giving you three reasons why you should consider wholesale, steps to get started and five top tips to make it a success.
What is wholesale and why should you consider it?
Wholesale is the process of selling your products at a reduced price (typically less than half of your retail price) to another retailer, who will then sell it on to their customers.
Because it requires you to sell to retailers at such a reduced price, you may be wondering why you would even consider wholesaling.
However, wholesale, when done correctly, can have a major impact on your business, and you should consider wholesale for the following three reasons.
Choosing wholesale partners that are selling to your ideal customer is the perfect way for these customers to find out about your brand.
That’s why people accept the lower price - because it will give them a chunk of income without the work of marketing, managing and dispatching each individual order.
Getting started with wholesale
Many people end up dabbling in wholesale because they are approached by a boutique or local business about stocking their products. However, it's worth thinking about your wholesale strategy before you get approached, so that when you do, you are ready to go.
Six steps to get started
Top tips for wholesale success
Wholesale can be a very profitable part of your business when done right, but it needs careful management to make it work. Here are my top tips for a smooth process.
Wholesale is a whole new world for many product businesses, but the rewards can be huge. If you’re ready to make the jump, make sure you prepare carefully and give yourself time to maximise your chance of success.
Thank you Catherine for the great advice.
Catherine Erdlywww.futureretail.world
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