“It’s no secret – successful wholesaling is sometimes a matter of being in the right place at the right time. An overstock supply can make a lot of money for someone who knows how to properly take advantage of it. These tips won’t soon be found in mainstream business magazines.
Wholesale trade magazines not only direct you to new business opportunities, they also keep you abreast of the ongoing rules and regulations that could affect your wholesaling business. The Internet has transformed virtually every area of sales and marketing, and wholesaling is no exception. Wholesale trade magazines can help keep your head above water.
The first order of business is making sure that the companies you do business with are qualified and professional. Gone are the days when business transactions could be done in person with a handshake. Globalization has changed the world of trade, and put home-grown companies in competition with markets on the other side of the world.
As a result, it may be more difficult to conduct market research on possible partners. Wholesale trade magazines can give you a good lay of the land, and profiles of businesses who are making ends meet. They’re just another way for you to find new business partners in places you never imagined.
But developing markets in the Third World come with their share of concerns. Countries like China can product vast quantities of materials at an astonishing rate, but some of the less reputable companies produce cheap goods that break easily or don’t work in the first place. Some wholesale trade magazines monitor these companies, and even give ratings based on past history.
This Size That Counts
The wholesale service you should refer to varies depending on the size of your business. On one extreme, you have middlemen who will only work with large orders. At the other end, you have middlemen perfectly content with handling smaller orders. In fact, they couldn’t work with anything else.
Wholesale trade magazines can give you the ins and outs of working with either kind of middleman. Economy of scale dictates that the larger the order, the cheaper overall it is to ship it. Therefore, it’s probably a good idea to ship high-end products in mass quantities and save money overall on shipping.
Wholesale trade magazines can also direct you to the middlemen who are making the process more streamlined. Today’s middlemen can function primarily through websites, a notion that might have been unthinkable a decade or so back.
Better yet, many of these middlemen often sponsor sourcing fairs, where buyers and suppliers can meet face-to-face. They are events that shouldn’t be missed, and wholesale trade magazines make keep you informed on all of them.”