Tips for Starting a Wholesale Business

The team at Corporate Business Solutions is renowned for their expertise in many industries, including the wholesale business. 

Starting a wholesale business may be easier than you think. There are several different types of wholesale business that you could start, some of which can be run entirely over the internet without pre-purchasing stock. Ultimately, you may be able to start a wholesale business quickly, easily and with little or no capital investment.

If you’re looking to start a wholesale business, we have general tips that may help you: 

1. Identify the industry you want to be in - It's generally advantageous to have knowledge of the industry before starting a business and often easier to get started if you know the products, manufacturers and retailers that you'll be working with. If you are considering starting a wholesale business in a new industry you should research industries of interest and contact potential suppliers for product information, terms and pricing. Ideally you should look to sell products that you feel passionate about and believe in, within a market that is not over-saturated and too competitive.

2. Recognize your market – You must determine who you will sell to. Consider these factors:

• What will be your customer demographic be?
• Where will they be located geographically?
• Will you need to ship goods or operate on a drop-ship basis with your suppliers?
• If you have to ship goods, how much will it cost you?

3. Review competition - Check out the wholesalers your new business would compete with. The less competition your new wholesale business has the easier it will be for you to break into the market and capture the business you will need to sustain long-term success for your venture. .  

To learn more about us and / or to schedule your complimentary appointment with the business experts at Corporate Business Solutions, call us at 877-357-9366.