How to Buy Cheap Wholesale Products

bizfluent article image

Sale Sign image by TekinT from

Buying wholesale is a very useful way to save money on items. Wholesalers are companies that buy directly from suppliers and resell items at a small markup. Business owners can get large quantities of sales items at great discount. Individuals and families can save money as well by buying wholesale. Many wholesalers offer cheap wholesale products. Finding the right wholesaler to meet your needs often requires investigative research.

Research retail sales prices. In order to determine if a product is being offered for sale cheaply you should know the routine retail price. Visit shops and search online to see standard prices. Look at specific categories. For example, you may not find the exact taffeta prom dress you want or the type of office chair you would prefer, but you can find prom dresses and office furniture.

Study the wholesale industry. Before you begin to buy, acquire information about how the industry works. Some wholesalers work directly with the public. A potential buyer can simply order a single item or a quantity of cheap wholesale products without any further information required. Other wholesalers work only with businesses. An individual cannot purchase from such wholesalers unless they have a business of their own.

Investigate specific wholesalers. Many wholesalers have both a specific physical location and a website. Buyers can purchase cheap wholesale products from the website or the physical location if they wish. If you live in a large metropolitan area you can often find wholesalers nearby. If you live in an area that specializes in certain goods such as textiles or computer parts, you’ll typically find specific wholesalers right in town. A wholesaler should have someone you can contact if there is a problem with the merchandise. A wholesaler may further specialize in specific categories of merchandise such as office supplies.

Obtain a Federal Tax Identification Number. An FTIN is a number used by the Internal Revenue Service to enable small business owners to separate business from personal expenses. Some wholesalers will not let you buy from them unless you can present an FTIN. The occasional shopper may not have need of an FTIN. However, if you want to purchase cheap wholesale products multiple times each year you can easily get one for free from the IRS website.