Searching for the right products
In the beginning, it is just an idea: Becoming a dealer yourself is a good way for many people to earn a living. Particularly in times when the Internet is the first point of contact for consumers when looking for products, there are of course impressive opportunities. In addition to selling through Amazon, eBay, and Co., there is also the option of opening an online shop yourself.
But all of this is not possible without products and certainly not without suppliers. It is therefore important to calmly think about which products you want to offer yourself, what requirements are placed on the supplier and only then start looking. When choosing products, it is important to consider several aspects.
Find the right products for online trading
Most people already have a rough idea of where the trade should go. You have selected at least one industry. However, there are several factors that should be considered when choosing a product so that problems do not arise later. It's a good idea to ask yourself the following questions:
- What storage options do I have?
- What do I know about it?
- What are my interests?
- What product am I behind?
The answers to these questions can clearly limit the selection of different product variants for online trading. Demand and competition also play a role. It is important to consider both aspects. It may be a good idea to offer jewelry or technology. The bigger the competition, the more difficult it will be to assert yourself here.
Basically, it is a good idea to spread a little bit and maybe even test several industries for a while before finally deciding which direction to take. But here, too, it is an advantage if you are familiar with the products and can, therefore, convince the customers of the advantages.
The search for suppliers begins
The decision for products has been made and now the task is to find a supplier. This should not only deliver excellent quality but also on time and reliably, after all, you give your own name for the sale. Anyone who can benefit from the experience of other retailers here has an advantage, of course, but that's not always easy. There are very different options for finding a supplier yourself. One of the most popular variants is the use of a provider portal or the business directory - online and in paper form.
Provider portals can be seen as marketplaces that bring companies, dealers and products together. A wide variety of companies from all over the world are bustling on the marketplace, which is, of course, a great thing for retailers. You can easily get information and contact details, note interesting suppliers, write to them and compare the offers.
Visits to the trade fair for making contact
It is, of course, good if you can hold the suppliers' products in your own hands and that works optimally at trade fairs. There are trade fairs for almost every industry and at these trade fairs companies present themselves that manufacture and offer products. You can find what you're looking for at pure trade fairs and get in direct contact with the companies.
The opportunity to speak to each other personally, to obtain offers, and to be able to make direct comparisons in terms of quality should not be underestimated. Of course, it takes time and money to look for suppliers at trade fairs.
China suppliers better than their reputation
It's no secret that many retailers order their products in China and are looking for a supplier here. Of course, this is primarily a question of money. Nevertheless, good quality does not have to be sacrificed for a supplier from China. Textiles in particular, but also accessories for smartphones or gadgets, can be bought particularly cheaply and sold again with a lot of profit. At the same time, of course, this is also an area where caution should be taken.
Don't be afraid to have dealers in terms of communication. Most suppliers from China communicate in very good English, but only in writing. When talking on the phone, misunderstandings can occur, as a strong accent often makes it difficult to understand everything. It is best to get in touch with potential dealers via email and to have all offers made in writing.
So a comparison is possible. The shipment of samples should also be requested so that the quality can be assessed. Anyone who has found one or more good suppliers in China has generally really won the big lot here. If you don't create a solid financial plan, you quickly get into a spiral. (# 03)
Lack of product knowledge - one of the biggest hurdles in online trading
It sounds so simple: Decide on a product, find a supplier, and the trade can begin. However, what sounds so easy can quickly become a problem if the retailer is not sufficiently familiar with his products. Customers also expect sound advice and professional answers to their questions on the anonymous “Internet” platform. If you want to work customer-oriented, you should, therefore, have sufficient knowledge of your products and also know your target group.
It is not enough to have a good supplier. The products must be advertised with heart and information. Another mistake that is often made is incorrect financial planning. If you don't create a solid financial plan, you quickly get into a spiral. Too large order quantities from the supplier to save money, too high costs for the storage of the goods, and too few buyers for the products - it is important to first agree on smaller purchase quantities with the suppliers and increase them if necessary. This is the only way to be able to react to customer demand without writing excessive losses if the business develops differently than was initially hoped for.
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