In this chapter, we’ll first establish a clear wholesale definition by examining the different types of wholesalers out there in the wholesale market. In addition, we’ll take you through the emerging trends like automation that are facilitating lower operational costs, better planning and easier operations management.
Now that we’ve established a detailed wholesale definition – and you understand the different options available – let’s talk about the legal side of the matter. Because it’s easy to overlook the crucial steps and wind up in hot water, it makes sense to get familiar with your legal, accounting, and tax responsibilities.
Thinking of buying wholesale products, working with drop shipping wholesalers, or dabbling in the infamous Chinese wholesale marketplace? Well, you don’t want to miss the nuggets of wisdom we’ve shared in this chapter. And make sure you read what we fondly call The Ten Commandments Of The Wholesale Business.
While a great entry point to the ecommerce industry, dropshipping is not a business model to take lightly, as the reality is, you’ll be in near-constant contact with your wholesaler. And working with wrong dropshipping wholesalers can cause you a world of transatlantic problems. Learn how to spot the ideal wholesaler.
While there are a ton of wholesale directories that you can sign up to, that doesn’t mean you’ve struck gold. And it’s important to remember that people can have a diverse range of experiences all working with the same wholesale clothing vendor, so do your research.
In the final chapter, we’ll look at how you can skill up and increase your success when buying products from wholesalers online and in person. We’ll also go through some best practices for working with US/UK wholesalers. Then, I’ll give you some insider tips on how to form a great relationship with Chinese wholesalers.