Whether you’re starting a new retail business or you’re an experienced retailer who has been in the industry for many years, you may be looking for a new wholesale supplier. How do you find the right one? What should you keep in mind? Today we’re sharing some tips for choosing a wholesaler.
Let’s start with a very important point – price! Are the products reasonably priced? Do you think the products are worth their price? Will the pricing allow you to make your margins? If you are an experienced buyer, you know all about margins. If you’re new to the business, then you may not be familiar with margins and markup yet. It is quite common for retailers to do a 50% markup, so take a careful look at the wholesaler’s catalogue to see if your markup will work with their products.
It can often be difficult to tell product quality from a website, especially if you have never purchased before. However, it’s a good sign if the website has good quality, high resolution photos, and even better if there are photos of different angles and a close up. If the wholesaler has a showroom you can visit before placing an order, make sure to take advantage.
Is the wholesaler a one-stop shop? Do they carry several product categories? Does it seem like they do the categories that they offer well? At Simi Accessories, we’ve been in the business for over ten years and we have extensive expertise in ladies fashion accessories. However, if one wholesaler carries everything you need for your store then make sure to do your homework. It’s very difficult for one company to be an expert in every category.
Is the wholesaler located in Canada? We have heard many horror stories including compromised credit cards, missing shipments and astronomical shipping fees from retailers who thought they were ordering merchandise domestically, but in reality it was coming from overseas. Make sure to thoroughly read information like “About Us,” “FAQs” and “Terms & Conditions” before placing an order to avoid any surprises or disappointments!
All wholesalers have minimums per item and per order. At Simi Accessories, we offer very reasonable minimums, enabling new customers to give us a try without making a huge commitment. We have a $250 minimum order and many of our products have a low two unit minimum.
At Simi Accessories, we truly value our customers and look forward to building long term relationships. After all, where would we be without you?! When you connect with a new wholesaler, do the representatives take interest in your business and make thoughtful recommendations? Are they honest about their products?
We work in a very “secretive” industry! Retailers want to keep their suppliers a secret from both their customers and their competition. It can be very difficult to find reviews on wholesale suppliers, but the best places to check are Google, Facebook and Yelp.
We know it can be difficult to find a new wholesaler. If you’ve stumbled across our blog or website and have any questions about our products and services, we encourage you to contact us! We would love to hear from you.