Are you starting a business or in the process of looking for a certain product to sell? Therefore, you have to keep in mind that wholesale sourcing a certain product can be very challenging and there can be a lot of pitfalls that you have to look out for. In that case, take a look at the following guide so that you will be able get tips that will help you get started.

What are the types of product sources? 

  • Wholesale Companies – These companies usually require a reseller certificate as well as a minimum buy.
  • Drop Shipping Companies – They offer low cost of entry but make sure that you are careful with its service and quality.
  • Importers – These are wholesalers who purchase products from abroad to resell to other wholesalers or perhaps directly to retailers.
  • Liquidation/Closeout Companies – When choosing this kind of company, be careful on knowing what you have to buy.
  • Manufacturers, Distributors or Representatives – These sources usually requires a bigger buy and going relationship.

Finding Your Product Sources: 

  • Online Search such as Yahoo, Google or goWholesale
  • Online Import Sites like Alibaba, Importers.com, and other global sources
  • Online Directory Sites such as WholesaleCentral
  • Online Auction Sites like Liquidation.com
  • Print Publications like Retailers Forum and Closeout News
  • Obtain Opinions from Community Forums by going to goWholesale Forums

Sourcing wholesale  is very important because if you do not have access to a legitimate source then you will not be able to buy products for a very low price and will not be able to resell it and gain a substantial profit. A lot of people fail to realize this though since there are so many middlemen as well as scammers out there claiming that they are already offering wholesale prices.

  1. When you are looking for a wholesale company that is legitimate, the first thing that you should look out for to spot scammers and fakes would the membership fee. This is because a legitimate wholesale source will never ask for any membership fee in order for you to have access to their products.
  2. If you run into someone who is trying to sell a wholesale list, then you’ve encountered another scammer. The availability of middleman and discount retailers who claims to be wholesalers makes it very rare for anyone to find a legitimate wholesale list online