Q:

What are some tips for buying wholesale goods?

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Quick Answer

Finding reliable wholesale suppliers requires careful research, and suppliers are found online, at trade shows, trade publications and through business referrals. Never buy wholesale goods before comparing prices, because some wholesale discounts may not be the cheapest resource. There should be enough available funds in the budget to purchase large quantities of goods required by traditional wholesalers. More research is recommended to ensure wholesale suppliers consistently sell high-quality goods and to verify they are not involved in scamming customers.

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Full Answer

When conducting an online search for wholesale companies, never assume the company is legitimate without doing further research. Some wholesale websites are nothing more than fronts for scam operations, and these sites accept orders but don't follow through with shipping goods. After finding legitimate wholesale companies, it's a good idea to take a closer look at their pricing. Most wholesalers offer wholesale discounts or quantity discounts. Wholesale discount products cost 50 percent less than retail, and large purchases are required to receive the discount.

Additionally, purchasers must use a business tax ID number in the ordering process. Quantity discounts require buying a certain number of the same item, but these discounts are not as deep as traditional wholesale discounts. Due diligence is required when dealing with wholesale suppliers, and it's important to check supplier minimum order quantities, order processing times, delivery schedules and return policies before committing to a purchasing agreement.

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