How much money is needed to order from a wholesaler?

by simon-slade - 25 Apr 2010

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Do you want your questions answered by an industry expert? Well you are in luck! Alice has started a series on the SaleHoo Youtube Channel where she will answer any questions you have about online selling or eBay. Check out the first video below, and make sure you "like" it if you think its good.

Also, go to the SaleHoo Youtube Channel and subscribe to get notified when there is a new video. If you have any questions, just email them to askalice@salehoo.com or post them in the comments below.

This weeks question from James: How much money is needed to order from a wholesaler?

Enjoy!

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Comments

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    T0pSales
    SaleHoo Master Member

    Commented at 06:55 26 Apr 2010

    geez alice, you aren't that bad looking... 8)))

  • avatar

    john sobolusky

    Commented at 01:03 27 Apr 2010

    does paypal hold your funds until your buyer get the order and if so what do you do pay the dropshipper if when starting out you dont have the money yourself

  • avatar

    SellWholesale
    New SaleHoo Member

    Commented at 02:29 27 Apr 2010

    @john
    Paypal doesn't hold your funds. Once you are paid, the money is yours. If it's a high-dollar transaction, you would use an escrow service to ensure that the transaction is complete before the money is released.
    If the money is held up, you're pretty much responsible to pay the drop shipper out of your own pocket. You could use a credit card to float the time between paying the drop shipper to when you receive the money in your bank account.

    Hope this helps.

    - Jason
    SellWholesale.com

  • avatar

    obanla

    Commented at 08:17 27 Apr 2010

    I cannot pay using my debit mastercard from Nigeria? what do I do?
    Thanks

  • avatar

    Phil

    Commented at 17:19 27 Apr 2010

    Well folks what do you think of this?I think all sites that recommend or give access to wholesalers should be responsible for those wholesalers.Before recommending they should interact with the wholesaler to see if they are legite.I can't tell you how many times I have had to back charge.There seems to be a numerous amount of people out there trying to steal your money.It's just such a big hassle,and time waster.It may cost alot of money,but it would really do alot for the site.What do you think?

  • ally

    alice-salehoo
    SaleHoo Staff

    Commented at 20:52 27 Apr 2010

    @SellWholelsale, well said :) And yes, plenty of sellers using the drop ship method use a credit card between when you pay your supplier, and when PayPal releases your money. However, in most cases, your accounts will not be frozen.

    Thanks everyone else for their questions, and keep an eye out for next week's Ask Alice video!

  • avatar

    Maryna

    Commented at 00:57 28 Apr 2010

    It is an excellent site and I shall advice it to all my fiends!!!I find this site informative and useful!

  • avatar

    Pauline

    Commented at 03:07 28 Apr 2010

    I really enjoyed the video. Very simple, down to earth. Well done.

  • avatar

    LOLA

    Commented at 07:09 28 Apr 2010

    PLEASE COULD YOU ANSWER OBANLA'S QUESTION? BECAUSE I ALSO FACE THE SAME PROBLEM. tHANKS

  • avatar

    Hernando

    Commented at 12:34 28 Apr 2010

    very good video sharp clear concise and to the point. Plus a very pretty face and a feminine voice.
    Good job.

  • avatar

    Andrea_Ang
    New SaleHoo Member

    Commented at 12:39 30 Apr 2010

    Hi Alice

    I would like to find out if there are any copyright issues when selling renowned products on blogships?
    Where can I get photos of products which I want to sell online if I am thinking more from dropship perspectives?

    Thanks

  • avatar

    mody23

    Commented at 11:05 1 May 2010

    very good i hope to be always at that level from height i appreciate ur work
    thanks

  • avatar

    Antonio Gomez

    Commented at 15:28 1 May 2010

    Hi Alice

    Please advice which documnets are needed in order to puchase wholesale for export, can I buy from wholesaler only with my Federal tax id number.

    Thanks,
    Antonio Gomez

  • avatar

    han sendol

    Commented at 04:41 2 May 2010

    I liked your website, may be useful to all people

  • avatar

    www.kidscds.org

    Commented at 03:57 3 May 2010

    Glad you guys finally started to answer questions without advertising an affiliate product. This Q/A will prove useful to many and result in business. Keep it up.

    Dropshipping works for many, but does not work for too many others. biggest problem is finding REAL drop shippers, and for that purpose we would not consider aggregators such as DOBA as a drop shipper. By the time you get access to a product listed on DOBA, ithas gone through several levels of mark up, rendering it 'un-sellable" at the price offered, much less at a higher price in order for you to turn profit. Look for real wholesalers, those that do not charge fees by making you "join" a program to get acess to their product database, aka produt warehouse. THEY DO NO Thave a warehous,e they are simply passing someone else's data to you, marked up.

    Buying a quality list from a reliable source ( such as salehoo) is one thing, paying for access to FAKE wholesalers, and product aggregators is another.

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    richellemonfort
    SaleHoo Staff

    Commented at 04:58 1 Jul 2010

    @obanla and LOLA: If your card is not accepted then you will have to check directly with the supplier for other payment methods which you can use. Usually a wire transfer will be the option given in this situation. Cheers!

    PS- LOLA, a friendly tip, kindly refrain from posting your comments in all caps as this is just like shouting :)

  • IMG9905 Copy

    richellemonfort
    SaleHoo Staff

    Commented at 05:09 1 Jul 2010

    @Andrea_Ang: I'm not sure what you mean by 'blogships' But usually when (re-)selling brand name products you won't face any copyrights issues so long as your supplier is an authorized dealer and is selling authentic products.

    With regards to your second question, dropshippers will provide you with the necessary photos to resell their products.

    @Antonio Gomez: Some wholesale suppliers will require you to have a Tax ID while other will not. I suggest you ask the supplier you are planning to buy from about their requirements since requirements will vary from one supplier to the next.

    Thanks for your comments guys! Cheers to all :)

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