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48 Kole's Wholesale Buying Tips FEATURES
for, the logical step is to fi nd out where they can pur- chase it, taking into consideration not only price and quality, but things like customer service, specials, shipping and more. As Kole would recommend to any buyer, even those who consider working with Kole Imports, “Do a lit le research before order- ing from anyone, no mat er how nice their website looks. Search online and look to see if there are any complaints about the company,” he says. T e Bet er Business Bureau is a good place to check a com- pany’s history and reputation. Companies with a rat- ing of A or A+ are the ones to look for. Inter- ested buyers should also call and talk to an actual person at the company, in order to get a feel for how the business operates, and to assure that they are a legitimate supplier. “So many transactions these days are handled without any conversa- tion between actual people, but it is important to add this to your checklist. If you want to build a good relationship with a wholesale supplier, talk to them,” adds Kole. Finding the right closeout supplier is vital to a
retailer’s success. Kole Imports receives hundreds of closeouts every week, and always has something new and diff erent at a great price. Many of Kole’s closeouts are priced low enough to be retailed in a dollar store, though many would sell well at $1.99 or more. With closeout items in 44 diff erent catego- ries, it is wholesale and closeout suppliers like Kole Imports that can help boost profi ts. Just as crucial as identifying a target market and
researching a wholesale and closeout supplier, is the step in the wholesale buying process in which a
Find other great ideas for running your business at:
www.wholesalecentral.com/wholesale–news 50 May 2012
Interested buyers should talk to an actual person at
the company, in order to get a feel for how the business operates, and to assure that they are a legitimate supplier.
retailer decides on an inventory stocking and selling method. “Consider how you will sell the merchan- dise,” notes Kole. “If you’re selling it in person, you’ll need enough space to store backstock, and enough fl oor space to display it. If you are wholesaling it online, you may want to consider drop shipping.” Retailers who are receiving inventory and keep- ing a stock are well advised to understand what the cost of shipping will be for the items ordered, before agreeing to have them directly shipped. Drop shipping may be a bet er method, allowing retailers to add items to their stores without need- ing to store the mer- chandise, as the drop shipping company will blind ship the items to the customer, with the retailer collecting payment. T is allows online retailers to increase the number of items available in their stores, without
any additional expenses. Kole Imports has such a program, which makes it possible for retailers to sell orders online without ever handling the mer- chandise. T ey upload the item information to your website, make the sale, and Kole Imports ships the merchandise to the buyer’s customer. Smart decisions in each stage of the merchan-
dise buying process will save a retailer the heart- ache of low profi ts, excess inventory and unhappy customers. Understanding the target customer base and then building a reliable partnership with the right wholesale and closeout suppliers can do nothing but help the bot om line and lead to retail success.
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