6 Common Product Sourcing Questions Answered
If you’e got a question about your E-Biz, someone else has probably already asked it. Matthew Hedges, customer support manager for product sourcing experts http://www.worldwidebrands.com, and author of The Online Research Guide to Picking Products That Sell, answers the six most common product sourcing questions he gets from customers looking to start an E-Biz:
1. Will suppliers care if I’m a new online retailer working from home?
Generally no. Says Hedges, they want to get their product out to consumers as much as possible, so they’e looking to open new accounts.?
2. How can I convey to a supplier that I’m a serious professional, not a fly-by-night home business?
3. I found a supplier I want to work with ?what’s my first step?
Your first step is to check for an online account setup form and fill it out. Real wholesale suppliers need proof you’re a legitimate retailer to give you access to their actual wholesale pricing structure and set you up with an account. You’ll need a registered business name and tax ID to work with real wholesalers. Obtaining these documents is easy ?just contact your local County Clerks Office.
4. I only want to sell popular name brand items ?how do I get a supplier?
You can’t afford to limit yourself to selling only brands you recognize. Your research should predicate your product line. Many brands you’e never heard of are very popular within certain demographics.
5. Should I be focusing on hot sellers?like iPods, gaming consoles, designer clothes, and DVDs? Can I drop ship them?
Once everyone knows an item’s hot, the market becomes saturated. The demand is there, but the supply is too. Everyone tries to undercut everyone else, and the profit margins get really slim.
If you’e got a question about your E-Biz, someone else has probably already asked it. Matthew Hedges, customer support manager for product sourcing experts http://www.worldwidebrands.com, and author of The Online Research Guide to Picking Products That Sell, answers the six most common product sourcing questions he gets from customers looking to start an E-Biz:
1. Will suppliers care if I’m a new online retailer working from home?
Generally no. Says Hedges, they want to get their product out to consumers as much as possible, so they’e looking to open new accounts.?
2. How can I convey to a supplier that I’m a serious professional, not a fly-by-night home business?
3. I found a supplier I want to work with ?what’s my first step?
Your first step is to check for an online account setup form and fill it out. Real wholesale suppliers need proof you’re a legitimate retailer to give you access to their actual wholesale pricing structure and set you up with an account. You’ll need a registered business name and tax ID to work with real wholesalers. Obtaining these documents is easy ?just contact your local County Clerks Office.
4. I only want to sell popular name brand items ?how do I get a supplier?
You can’t afford to limit yourself to selling only brands you recognize. Your research should predicate your product line. Many brands you’e never heard of are very popular within certain demographics.
5. Should I be focusing on hot sellers?like iPods, gaming consoles, designer clothes, and DVDs? Can I drop ship them?
Once everyone knows an item’s hot, the market becomes saturated. The demand is there, but the supply is too. Everyone tries to undercut everyone else, and the profit margins get really slim.
The author is a building inspector, he start his online contact lenses shop recently. his wife is going to start a fashion bathroom fitting shop.