Does it sound impossible? It’s not!
Wholesale is the name of the game, especially when it comes to ecommerce. Many wholesalers are competing to become the next generation wholesale rockstar, and many financial advisor firms are now handling their investments more and more as the business model expands over the years.
Before going further, let’s talk about what wholesaling is:
Buy in Bulk, But It Cheap!
Wholesaling refers to the purchase of any kind of product in bulk (large amounts) from a supply chain (often a manufacturer) at cheaper prices, and then reselling those products to another party (often a retailer or other resellers) at higher prices. The parties who purchase from a wholesaler often end up selling those products to end consumers at even higher prices, but not necessarily in bulk.
Since wholesalers purchase products in bulk from a source, they are essentially acting as a distribution company for those products. That is why most distribution companies offer wholesale terms when you go to purchase from them. Wholesale distribution firms usually do not sell to end-users, but to retailers instead. Basically, wholesalers are the lifelines of products from point A (manufacturers) to point Z, which is the market. Any market, online and offline included.
If this is the business model you have been using to make money, then congratulations: you are a wholesaler!
But things have changed over the years. Wholesaling is not the same it used to be back in the day. Marketplaces have evolved, technology has evolved, and people value business models differently.
So, how can you become the next generation wholesaler who will revolutionize the industry?
Well, we have decided to bring you some information regarding this business model, and to point you at the right direction, especially if you are planning on a large investment.
It’s Time to Get Wholesaling!
If you really do intend to stand out among other wholesalers, then you need to think forward, and most importantly, think outside the box.
First of all, you need to figure out what type of wholesale firm you are going to be. You can either do things from big warehouses in which you store your products, or you can do it from a home office, which is very common nowadays in the ecommerce industry. In fact, there are more cases of online wholesale investments every day from business owners who wish to operate their business from the comfort of their homes.
Once you figure that out, here are some other points which you need to keep in mind. Didn’t think being a wholesaler would be easy now, did you?
Pay Attention to Financial Planning With the Help of Asset Managers
This is every advisor’s sentence of choice. Obviously, you are risking an investment by going into any business. That is why you need to have careful financial planning in order to protect your asset, and scale in a safe and sound way. One way of doing this is utilizing the services of asset managers, or going to a wholesale management firm for help. Financial advisors are also great ideas if you are not a high-net-worth individual. A careful management strategy combined with the skills of a talented financial or wholesale advisor will make sure that your internal goings-on are running smoothly and your investment is protected while you focus on other aspects of your business. They will also do one important thing: building a portfolio which you can proudly show your clients!
Train Yourself to Be Good at Negotiations
Wholesale is a relationship game, and a wholesaler, by default, has to be good at negotiations. You will be talking to both supply chains, and a client base. Obviously, you would need to be very good with negotiations when you are talking to supply chains, in order to show them that you are the real deal, and will bring tons of value and money to the table if you work together, and that you are worth their time. The same value, or better to say, values, you must bring to your clients. You need to show them how your business will help solve their problems, and why they should choose you over so many other wholesalers. In other words, you need to be good at both sales and purchasing! Meet their expectations, and they will meet yours!
Keen Eye for Best-Selling Items
You can obviously choose to sell any product as a wholesaler, but there is no guarantee that it will get good sales. The industry is full of many products, and it’s your duty to find out which products your clients want. Product research is a very important facet of any business, and one that wholesalers need to take seriously. Luckily, the information is out there and you can leverage it for your business to find the most profitable products.
Next Generation Means Next-Level Thinking
Let us act as your advisor and give you a tip: get with the times, think ecommerce! Nowadays, ecommerce is quickly replacing traditional marketplaces as more and more people gravitate toward online platforms such as Amazon. Wholesalers are not different. In fact, many of them acquire their products from online stores and some of these platforms, for example Amazon, have made online wholesaling a possibility by introducing special extensions through which wholesalers can both buy and sell products in bulk.
Switching to an ecommerce platform will also bring you more clients and a wider product selection, as there are more options. Almost everyone today is an online client of one online platform or another. Wholesalers have realized this and are swarming the marketplace like bees!
How Do I Stand Out As A Wholesaler In the Competition?
Use technology to your advantage! The time is ripe for it, and there are tons of wholesale management services and automated software which you utilize to fully optimize the internal side of your business, and boost your sales. The efficiency you will get as a result will also look good on your portfolio. Most wholesalers may be swarming the online marketplace, but not all wholesalers are using wholesale management services to boost their firms! If we were your advisor, we would encourage you!
The Time for Investment Is Now!
When it comes to helping wholesalers, Jerome Basilio is the go-to guy! Himself, along with his team of industry professional help prospective entrepreneurs become successful wholesales on online platforms. Over the years, they have developed unique strategies which they mold to meet the requirements of each client who approaches them to become a wholesaler. They will share their knowledge and information with clients, and act as advisors on how to set up a successful wholesale business with top-notch management leading to high sales of every single product, perfect internal operations, and a shining portfolio that most regular wholesalers cannot even hope to meet in their careers!
Invest with Jerome Basilio, and become the wholesaler of the century!
For more information on investor opportunities, you can visit the website, or better yet: drop us a call!