Become a Wholesaler

Being a wholesaler can become a full-time venture real fast. Believe it or not being a wholesaler has only one limit: and that is “how deep are your pockets”?

Wholesaler Funding

This is something I have been doing for about three years now. I have made some really good money buying and reselling products of all kinds. I buy them at what’s called a “wholesale” rate and resell them at a discounted rate or retail rate. It all depends on where I am selling the products.

Online and in person, I sell at retail cost. The only time you get any product from me at wholesale cost is when you buy in bulk. I am doing this for profit as a business, not to let my sister-in-law or anyone else get stuff for almost free. 

One of the most important lessons I can teach you is to NEVER give a discount unless that is what you planned to do in the first place. You are in business to make money. Be firm with this mindset moving forward.

Wholesaling: Means that YOU are buying the products and services at a big discount (wholesale prices), not your customers.

Wholesaling is a wonderful way for you to bring some extra money into your home. It could replace you JOB rather quickly if you focus and as we say “be on the grind”.  Also, if you are smart you might even find some things that you want or need for yourself and you can get them at cost.

Many people focus on Amazon or eBay to move their products and these are really good ways to get a lot of sales. But if that’s all you are doing you are missing out on a very specific marketplace. The greatest marketplace you’ll ever have is the same one Mr. Damond Jones from “Shark Tank” had when he started out…. “Your Own Back Yard”.

Here is a hint for all the real newbies: The mom and pop stores, corner stores and bodegas all need products to sell. If you get some business cards made, Walk over to them and tell them you are a local distributor and can provide them with (whatever products you have decided to sell) and give them a fair price so that they can mark it up and make some money, they’ll buy from you!

Let’s look at this real-life example. At the time I am writing this post “Thor’s Hammer” was selling for $245 online but you could have gotten your hands on this for only $18.50. Now if you spent $100, you would have gotten 5 of them. Could you have gone to your local corner store and sold them at $80 each? Your profit would be around $60 X 5 pieces = $300 cash in your pocket. Yes, the store owner would make a lot more money than you and that’s good because you want them to buy more products from you and get those big profits.

Of course, there is also the online marketplace and social media websites that you could market your products.

So what do you need to do to become a wholesaler?

  • Decide that you are going to do it
  • Decide what types of products you want to sell
  • Find a market to retail your products
  • Click here to find your products from SaleHoo

There are more places you can get products at wholesale and really boost your product lines and business. But first, you need to get started and build your business to $5,000 a month. This is our proof to ourselves that you can do this business. On our “Fire your boss” level I’ll teach you how to scale your business to $10K a month.

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