B250 9/26

This week in B250 the topics of focus were on Demand and Competition and Sourcing the Product. Before coming to class this week, I had no idea or how to use the Google Keyword Planner. After this week though, I understand and can see how beneficial it is for anyone wanting to see how competitive their product will be out in the market and how feasible an idea it will be. I also learned the importance of execution. It doesn’t matter how good the product is, if it is out of your price range or idea it is never going to work. Make sure to focus small and then grow as you see success in the industry or business.

These are my step by step notes on Wholesale Distributor’s:

How to Find a Wholesale Distributor

  1. Understand your Industries and distribution channels
    1. Manufactures
    2. Importer/Exclusive Distributor
    3. Wholesale/Regional Distributor
    4. Jobbers
  2. Try the manufactures first
    1. Start at the source of the product that you want to sell.
  3. Have a productive first contact with a wholesale supplier
    1. Make sure to not leave out Ebay.
  4. Products
    1. Style
      1. Do you like how the product looks?
    2. Quality
      1. How well are the products made?
    3. Price
      1. Is this in your price range?
    4. Warnings about being Scammed

Be careful when buying in bulk, especially with companies like Alibaba. There have been many reports of scams, and bad quality. Make sure to order a sample before committing to purchasing a large quantity from anywhere. Once again be sure to buy small at first in order to make sure you won’t be out enormous amounts of money.