If you’re considering heading straight into the deep end of commerce, wholesale is definitely the way to go. Wholesaling is the distribution of basic, unbranded goods to resellers. In short, you aren’t selling the general consumer market and don’t usually have any form of contact with the end user. Instead, you’re providing other retailers with the basic goods that they need to create the wares and products that they will then sell on themselves to everyday buyers. If you head into this area of business, you’ll be the company that smaller businesses rely on. You will buy goods in huge quantities, then assemble them, repackage them, sort them or redistribute them in smaller lots to businesses in bulk for a profit. They will then make their own amendments to the item and sell them on to end consumers at an even higher price. Sounds simple enough, right? But there are a few other things that you need to know and focus on before trying it out yourself. So, here’s everything you need to know about dealing with wholesale goods!
Find Your Niche
When you deal in wholesale, you’re going to have to find your niche. Because you’re going to be purchasing your stock in such large quantities, it’s unlikely that you’re going to be able to afford to do this over various different product types or categories. So choose one ware and stick with it. There are various areas of wholesale, so there’s bound to be something out there that takes your fancy. Food is perhaps one of the most popular areas of wholesale and there are so many different raw ingredients out there that there’s bound to be people crying out for the wholesale of specific products. Within the subcategory of fruit alone, there will be the need for apples, pears, oranges, pomegranates, bananas, cherries, strawberries, raspberries, pineapples… the list goes on. Different companies will deal with each of this products. Someone with a small, independent fruit store or a restaurant looking for fresh ingredients will then contact each of these firms to get smaller quantities of each good to stock their stock or fill their kitchens.
Stand Out from the Competition
Now, there may be a whole lot of variety out there, but there’s also going to be a whole lot of competition. Let’s stick with the theme of fruit. Believe it or not, there’s not just one company focusing on the wholesale of bananas. One focusing on pineapples. Another focusing on pears. There are multiple different wholesale businesses vying to sell their individual wares. So, in order to succeed you’re going to have to make sure that your offerings stand out from the crowd of competition. Take a look at how other successful companies have managed this. Global Foods UK have chosen dates as their product of choice. Now take a look at their website: https://globalfoods.uk.com/date-paste/. This sweet fruit forms a key ingredient in many decisions and is used diversely. They can be used in baking, the creation of ice cream, truffles, and shakes. But the brilliant uses of dates and date paste wouldn’t be enough to sell them in bulk alone. The key that makes their dates and date paste appealing? The dedication that has gone into the sourcing of their products. Their dates are sourced from Tunisia, with pastes being made up in a BRC accredited facility. The quality is also above and beyond what is guaranteed by most: everything is controlled to a strict specification, with end products being 99.9% pip free while also being tested for water activity, moisture, and PH. If you’re going to get into wholesale, remember that you need to provide the best goods in your category to secure sales.
Be Flexible
Flexibility is another feature that is likely to see buyers use your services time and time again. Sure, it may be easier for you to stick to certain rules, quantities and protocol and we aren’t saying that you should bow to every customer’s demand or request. But if you have a few extra options, you’re likely to cater to more people’s needs and turn over more sales. This just means that you’re going to make more profit and at the end of the day, that’s what you’re in the wholesale industry to do. You should perhaps be more flexible with companies who are just starting out themselves. This can be seen, again, in the operation of Global Foods UK. While the brand ships to a global market in large quantities and sell by the single palette across Europe, they do offer split palettes for new brands. This means that smaller companies can still engage with wholesale and test out your products with their buyers without wasting too much fresh produce. Why is it so important to support emerging companies? Well, you never know whether they will take off. If their own products are a success and you’ve helped them to achieve that with your flexible quantities, they’re going to come back to you time and time again with ever-increasing orders. So be mindful. You never know who your next biggest or most reliable client might be.
Networking
Most of the time, customers are going to come to you. They’ll be in need of a product and seek out who can provide it to them in bulk. But, as with every other area of business, wholesalers can always profit from a little networking. This is what can take you from a small scale wholesaler to the big time. If you secure a contract with larger companies, such as supermarkets, you’re going to start shifting out much larger quantities of stock. They have a larger consumer base and thus have higher demand and will provide you with much larger orders to meet on a regular basis. This is when you will start to make serious money. So, get out there. The best way to break into these areas is to work out where these companies are sourcing their wares from at the moment. Take the time to compare your goods to the current suppliers. If you believe that your offerings are superior, take action. Get in touch with the people up the top. Send them samples or visit them to show them your wares in person. They might have a contract to fulfill but may be happy to switch to your services once it is complete.
As you can see, wholesale can be as casual or professional as you make it. The good thing is that you have complete control over how far it goes and what pace your personal brand will develop at. There’s just one thing needs to remain consistent: the quality of your goods. Keep this up to scratch, and everything should be plain sailing!
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