These days, nearly everyone has a side job. It’s a fun way to make some extra cash! Some people write blogs, some sell artwork on Etsy, and some run drop shipping businesses from the comfort of their own homes
Whether you’re looking to supplement your income, gain financial freedom, or simply seeking more work-life balance, becoming a wholesale supplier is a great way to pay the bills and be your own boss. But how do you do it?
Let’s start with the basics:
What is A Wholesale Supplier?
A wholesale supplier partners with manufacturers to provide customers with the manufacturer’s products. This happens two ways: the supplier has a warehouse, in which they store, manage, and ship the product; or the supplier manages an online store, where they take orders from customers and arrange for the manufacturer to ship it directly (also known as drop shipping).
Becoming a wholesale supplier is not as challenging as it sounds. In fact, you can become a successful supplier in as little as 30 days - as long as you follow a few simple rules:
Step One: Find Your Product
Before you can start supplying, you have to decide what you will sell. Are you interested in novelty toys? What about party Supplies? Will you be a wholesale cleaning supplier? Once you choose a niche, you can begin.
Take some time to learn about various markets, including B2B and B2C (business-to-business and business-to-customer, respectively). Look for something with room to grow your business, a consistent demand, and - arguably the most import aspect - something that you’ll enjoy.
Step Two: Set Up Shop
Once you’ve decided what you will sell, you’ll need to create the place to sell it. If you are a dropshipping wholesale supplier, you will need a website to showcase your products, take orders, and communicate with customers.
You will also need an Employer Identification Number (EIN) in order to establish an official business with the IRS. Apply for this ID number online, and make sure to obtain a resale certificate and state sales tax certificate.
Step Three: Find Your Manufacturer
Let’s say that you have decided to sell cleaning products. That’s a great choice - but now where can you turn? You can find your products and start selling your wares by heading directly to the source: the manufacturers.
If you want to be a wholesale janitorial supplier, get in touch with manufacturing companies that sell bulk-quantity cleaning products. Ask if the company is looking for a wholesale supplier, and do your best to build a partnership.
Step Four: Establish a Routine
As I mentioned before, drop shipping is not as hard as most people believe. However, that certainly doesn’t mean that it is easy. A wholesale supplier has to wear many hats, acting as a marketer, accountant, head of shipping and receiving, and customer service representative.
Time management is paramount to success as a wholesale supplier. Make sure you are carefully planning your days, giving yourself time to accomplish your goals without overworking yourself. If you’re not organized, you put your whole operation at risk.
Step Five: Build Relationships With Everyone
The folks at Emerge recently said that distribution businesses had been “done to death.” In some ways, they’re right; there are thousands of wholesale suppliers all over the country, operating in various consumer and product sectors.
So, the question is: what will make your business different? The best way to make your business stand out is with superior service. Build strong, friendly relationships with manufacturers and customers alike. If you treat the people you work with kindly and with care, you’ll have repeat business as long as you’re in operation.
Now that you know these tips and tricks, get out there and become the best wholesale supplier you can be. Who knows - you just might find your true calling out in the world of commerce.