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Whether you are just thinking about Alex Gordon Royals Jersey , or you have decided that you would like to start running a wholesale business, there are a number of items that you should spend considerable time planning and researching before going full steam ahead. Proper planning and fact-finding up-front can not only save you from a lot of headaches in the beginning, but can also mean the difference between a successful wholesale business versus a monetary disaster waiting to happen.


In this article we will provide you with ten tips to help guide you along the way as you begin planning for your business. They are presented in chronological order so that you can use them as a way to plan out the proper steps along the way. Remember Yordano Ventura Royals Jersey , success depends on many factors ? and the most important factor is your determination and energy you put into making your business a success!


Step 1: Ask Yourself Why?


Why do you want to get into the wholesaling business? It is because you would enjoy working with other businesses and manufacturers being the main point of contact between the two? Or is it because you think it is an easy way to make money quick?


Wholesaling is a demanding business, and can require lots of up-front capital, warehousing Bo Jackson Royals Jersey , logistics planning and customer service skills. As the main channel between the manufacturer and retailers you may find yourself dealing with hundreds of thousands of units of merchandise needing to be shipped across the country on a moments notice. Large retailers often pay on a Net-10 or Net-30 schedule, meaning payment is made after the goods are delivered. What would you do if a retailer did not pay or went bankrupt before you received payment?


Step 2: Study Your Competition


It does no good to enter a market where there already exist established, credible wholesalers for a given product. Retailers want to know they have a dependable supply source that meets their terms and often will not change wholesalers for an established product. Just because you build the warehouse does not mean they will come.


Use your local Chamber of Commerce George Brett Royals Jersey , the Internet and even visit with retailers to find out what wholesalers exist in your area. If you want to specialize in a specific product, contact the manufacturer directly to find out who handles wholesaling for them already in your region. There may be none in your state, or there could be three down the street.


Step 3: Assess your Financial Situation


Wholesaling can require a lot of up-front capital and expenditures before you even see one cent of income. Do you have the resources to spend on setting up a relationship with a manufacturer who will most likely require you to buy in huge quantities from them? Can you afford to wait up to 30 days for payment? Do you have the money to invest in shipping freight or setting up your own delivery service?


Be sure to look past the startup costs as well. Employees Wily Peralta Youth Jersey , taxes, property rental and insurance are just a few of the things you will need to factor in as ongoing costs.


Step 4: The Business Plan


A solid business plan is the foundation of any business. You need to make sure that you have spelled out what you intend to do and how you intend to get it done. Not only will banks require this for financing, but often other businesses you deal with will want to see it as well. It should be the guidelines that you follow every day in your business to achieve the goals you have set forth.


For this part Danny Duffy Youth Jersey , it is often wise to work with a business lawyer or seek professional advice from business consulting services. A good resource to help you find people in your area with the necessary skills and background is the Small Business Administration government site.


Step 5: Apply for Licenses, Taxing Certificates and Other Necessary Paperwork


Nothing is as certain as death and taxes. It is no different in business, with one exception. As a wholesaler you will be required to pay taxes and other fees to your state and to the federal government.


The one exception is that you will be granted tax-exempt status for the actual goods you are moving between the manufacturer and other retailers. This can be a tricky process and is handled at the state level.


Again Ian Kennedy Youth Jersey , for this part you will want to make extensive use of your state taxing authority as well as local Chambers of Commerce. One wrong mistake here can end up costing you not only money, but possible your entire business.


Step 6: Establish Your Facilities


Location, location Jorge Soler Youth Jersey , location. Businesses must exist somewhere and like most things in life there are rules and regulations on where they can be. Will you be having semi-trailers coming to your location at all hours of the day and night? Will you have a storefront for vendors and clients to come calling at? What about electrical, water and sewage needs?


Zoning laws exist to make sure that the right structures end up in the right places. Nobody wants a warehouse next door to them in a residential neighborhood. Work with commercial real-estate agencies to find a suitable place for your business.


Step 7: Establish Your Relationships You have the facilities, you have the finance ? now do you have anyone supplying you product or customers for that product? Work with manufacturers and retailers to build a relationship. This can be one of the most difficult parts of the experience Raul Mondesi Youth Jersey , and is where the rubber hits the road.


In addition, relationships extend beyond your customers and suppliers. It is good practice to establish relations with your local Chamber of Commerce, retail associations and labor organizations in your area.


Step 8: Marketing


Wholesalers traditionally do not advertise. That does not mean you should not market your business to others Frank White Youth Jersey , after all how can you build relationships or expand on existing ones? Wholesaling guides are published and distributed to many retailers anJacob Collier &nb. Cheap Nike Shoes China Cheap Jordan 4 [u