Finding Wholesale Suppliers and How To Order From Them
Finding Wholesale Suppliers and How To Order From Them
Making your first wholesale order? For sure, you are excited. If you really are, then you are really on the right track and it's a job well done. However, you still have to do a few more steps before you head on to obtaining your credit card. Keep the following things in mind:
For sellers in the US, you should obtain a tax ID. It's really not complicated. But you have to obtain one since most suppliers require this. To apply for a sales tax ID, the first thing to do is to contact your state tax department. Just google the name of your state and the corresponding state department. Then, get their contact details. Other states require fees but are easy-on-the-budget.
Assess the different payment methods. Suppliers usually provide numerous payment methods so that everyone can easily process their payments. Yet, having too many options to choose from can be confusing. So, when you have to pay and you're unsure of what method to use, read on:
Payment methods are classified into two types, namely the secured payment methods and the unsecured payment methods. Secured payment methods range from credit card payments,PayPal,PaymateandEscrow. They are called secured payment methods as they keep their clients secured from deceitful suppliers since they do hold the payments in anticipation of the buyer's receipt of the order. On the other hand, unsecured payment methods like Western Union transfers and wire transfers do not provide protection for the client. Thus, unsecured payment methods are not highly recommended. Suppliers who only accept unsecured payment forms could possibly be bogus, so be aware of them.
Gear up for MOQ's. Minimum order quantity, abbreviated as MOQ, actually pertains to the minimum orders from a supplier. To help you understand what this is, here's an example. Let's say a supplier has 500 units as a minimum order quantity. Thus, you need to order at least 500 units in a single order. Frequently, MOQ's are expressed in dollar amounts instead of units. For example, US$50, which means you are to spend US$50 in one single order. Not all suppliers enforce an MOQ but it's always a good deal when your suppliers do have it. To know more about your supplier's MOQ, you can always refer to their website or you can contact them directly.
DO's Before Ordering:
Samples.Samples are essential so you can assess the quality of the items you will be ordering. So, do get a sample and test it out. If you are into clothes, wash and wear them first before you make a decision so you can see if they do last. If you get electronic samples (e.g. cell phones, mp3 players, etc.), look into its battery life and its software as well.
Fewer items. When you are not sure yet or it's your first time ever to make an order with a new supplier, you need to play safe first. This way, you care helping yourself avoid scams. Before you start investing in huge orders, start ordering fewer items first. This isn't just a way of protecting your investments. This is also an opportunity for you to familiarize yourself with the product while selling it, and testing out the selling techniques and selling platforms before the larger shipment is done.
Start on it now! You are getting there, so do follow the above-mentioned steps and prepare to make more money!
If you would like free access to a video training series on
importing from china then check out
http://www.ChinaImportFormula.com.au
Brendan Elias and Alex Ryan have been teaching business owners
how to start their own importing business from scratch, and
import goods without the headache or hassle.
Brendan has been featured in the Sydney Morning Herald, Live
National TV on the Kerrie Ann Show, Financial Review and many
more. The Critical Role Of Position Sizing In Trading Spend a Day on the Trading Floor with Tom & Vladimir Foreign exchange Dealing Guide- How to deal with Foreign exchange Trading? Rules For Successful Day Trading Strategic upgrade project personnel overseas talent to join Weichai Power - Weichai, Tan Xuguang, diesel - construction machinery industry Does Day Trading Work? 4 Secrets For Long Term Day Trading Success Custom Trading Pins - What's So Special About It? Cnbc News - (Trading Like A Pro) *** Cnbc TV - (Trading Like A Pro) *** Cnbc.com $$$ Cnbc.com (Trading Like A Pro) *** Cnbc TV 18 $$$ Cnbc TV 18 (Trading Like A Pro) *** Cnbc Plus $$$ Cnbc Plus (Trading Like A Pro) *** Cnbc Cramer $$$ Cnbc Cramer (Trading Like A Pro) ***