General advice on starting out wholesaling

Hello guys!

I joined salehoo a few days back and have seen some great stuff! I would like some advice on certain matters. As i'm planning on 'getting serious' in the wholesale game, i want to know which direction i should head in terms of marketing. I'm planning on setting up my own website and create a business email address. I already have an ebay and Amazon account. Are there any tips you can offer me?

Thanks a bunch!

Hello unborn,

You owning a website would be a great start, and an email with your own domain looks much much more professional than a hotmail or yahoo address. I also suggest getting a DBA at your local courthouse at the country clerk's office. If your going to hold inventory a resell permit and tax ID are recommended if you want to do things the official way. A DBA will cost you 16-17 bucks and all you need is your name that you picked out and your drivers license.

If your trying to decide what type of products you want, I would go for something that you personally like and know about. This helps in the knowledge area of that type of product ect.

Word of advice, look and look hard before you make a move. Remember to investigate all companies you buy from thouroughly (phone, documents, ect.) . If you have any questions postem, this is a great forum and there are many people who love to help.


-Benjamin

My biggest suggestion is to go through the forums and read EVERYTHING! There is so much valuable information on here.

I know in the US, there is the Small Business Administration (SBA). Not sure if there is anything like that where you're at, but it's worth looking into. The SBA helps small businesses figure out what they need to start a proper business, helps with filling out forms, providing tax information, etc. It's a valuable asset.

thanks guys! :D

If you're looking to get a website done and put up I can help you out. Have great rates and hosting is only $10/month on my dedicated server (not sharing space with other hosting companies, more reliable and instant service).

Fire me off an email to Link hidden: Login to view if you want to chat about it.

Thanks.

The main thing that I suggest is not to give up! If your just getting started you will have some highs and lows and sometimes you will get down and want to just give up. Give it some time and keep working at it. After a while you will be glad that you stuck with it! Good Luck!!

I'm kind of in the same boat just not quite as far along. There are several things I'm knowledgeable about and have an interest in. The problem I'm having is finding a legit supplier for the products I'm interested in. I know there is a lot of competition on Amazon/E-bay/Internet and that doesn't bother me that much but I can't even find suppliers that would allow me to sell at competitive prices and not lose money.

I'm mainly knowledgeable/interested in cell phones, namebrand consumer electronics, computers, nerd games (D&D, Alternity, Gamesworkshop Games, etc.), and namebrand watches mainly Seiko. I'd even be willing to sell non-namebrand items if their was a stable enough market for them. I'm also open to pretty much any type of item but this is just a list of what I know.

Ya so anyways I got to find a product/products and a decent supplier before I 'll even bother setting up a website, etc. Any ideas and suggestions would be appreciated.

I'm mainly knowledgeable/interested in cell phones, namebrand consumer electronics, computers, nerd games (D&D, Alternity, Gamesworkshop Games, etc.), and namebrand watches mainly Seiko. I'd even be willing to sell non-namebrand items if their was a stable enough market for them. I'm also open to pretty much any type of item but this is just a list of what I know.

Right there is part of your problem. A lot of what you know and are interested in are over saturated and highly competetive. What hurts a lot of people just getting started, like yourself, is that the top sellers in most of those galleries most likely have suppliers that no one else has figured out yet, that get them the best prices for the category.

Something I've seen on several websites about starting an ebay business is to check out the 'get it now' area on ebay. See what is being looked for the most. Maybe people seem to want a specific item or line of items that you can find cheap... and it may be something you know about or are interested in, but you didn't think of it when you thought of the other stuff.