How To Start A Wholesale Business And Start Selling To Retailers
Selling products to the retailers directly to the consumers will have lots of advantages. If you are selling your products directly to the consumers, then you need to worry about different factors like branding, product variation, design, marketing, etc.
But by selling wholesale to retailers, you can avoid all of these problems and focus on growing your business.
In this blog post, I will tell you why it is important to sell wholesale to retailers and how to start a wholesale business on WordPress.
Before that, I will discuss Wholesaling.
Wholesaling means you will sell your products to the retailers in bulk usually at a discounted price. And then they sell your products to the consumers.
It’s important to note that starting a wholesale business still allows you to sell your product to the end consumers.
Why it is important to sell wholesale to retailers
In wholesale, you are dealing with a business that in turn sells your products to end customers. And those businesses buy products in bulk so they have enough inventory to meet demand during the short to medium term.
By selling wholesale to retail, you will get lots of advantages over dealing with the end consumers.
Advantages you will get if you sell wholesale to retailers:
- Selling in bulk helps you to get lots of orders that means lots of profit.
- The majority of your retailers get back to your store and purchase the products again.
- You don’t need to spend your money and time on marketing. Your retailers will do that from their end. Retail businesses had a much larger headache than wholesale businesses.
You can also sell your products to both users: Retailers and direct to the Consumers.
Let’s move forward to the next section where we discuss how to start a wholesale business.
How to start a wholesale business?
Starting a wholesale business is easy if you have properly planned it. If you have an eCommerce store and want to start wholesaling, then it is so easy that you can’t imagine.
I will show you a step-by-step guide to start a wholesale business.
Step – 1. Know your wholesale price
You need to calculate your product’s price wholesale. Here are some points which help you to calculate your product’s price:
- Check what price your competitors are offering and keep your eye on your competitors
- Take your customer’s feedback and know how you can differentiate your products
- Try to cut your production costs, it could help you to decrease your product price
These points can help you to calculate your wholesale price.
Keeping an eye on your competitors is very effective. You can set your price as your competitors set of the same product or lower the price.
A good location and low production costs can easily boost your sales and help you to grow your business in a short time.
Step – 2. Join retailers by approaching them
Adding retailers to your wholesale business is not so easy. But you need to try and try. The majority of retailers are already joined with suppliers, so you need to approach them by your wholesale marketing plan.
You can approach retailers by:
- Directly meet them
- Go to their office and meet them
- Sending emails
If you target small retailers, then a direct meeting is a good option. Present your wholesale marketing plan and approach them.
Dealing with offices is different from directly meeting with the retailers. Offices mean they have a large group of people and you have to carefully discuss your wholesale marketing plan with them.
And last but not least, cold emails, cold emails are the best choice if you have a list of emails to the retailers. It can save time and you can show them your plan on a pdf file, so they can take time to read it. Try to collect more emails to collect more leads.
When approaching a retailer, try to differentiate your plan from your competitors. Tell them the benefits they get if they join your wholesale program.
Step – 3. Create your online wholesale store
Nowadays creating an online store is a necessity. All the businesses are opening their online store and I also suggest you do that. An online presence can help you to reach more people than an offline store.
And with the Content Management System (CMS) like WordPress, you can create your online store in just a few simple steps.
Plugins like WooCommerce help you to create your eCommerce store and plugins like Wholesale Suite help you set up wholesale functionality on your store.
I wrote an article about how to create a wholesale website in WordPress. – read it to know more about it.
Want to know which is the best web hosting for your online store? Then my web hosting guide article to learn more about it.
That’s it for this blog post. If you like this article, please share this with your friends and family. And feel free to comment in the comment section below. Thanks for reading.