1. Do your research and think about what you would like to sell
Of course, it is even more important that there is a market for what you want to sell. After all, you don’t want to end up with tons of boxes in the garage, all overflowing with stock that you can’t sell.
Talk to people and look online. Can you see a gap in the market? It may even be worth going to online forums and chatting to wholesalers and shoppers.
You should be able to get a good idea of what people are looking for. Remember you should not just sell things that you like, you need to fill a gap in the market, if you are going to make an income.
2. You will need to buy a wholesale license
You should research the specific requirements for your state, country or province, as they all differ.
You may also want to look into buying your license online, as it may work out cheaper, but beware, as there are many scammers out there, just looking to get at your money.
3. You should get a tax ID if you do not already have one
You will need it when you buy things at wholesale price, as without this you will not be able to buy things cheap.
By spending some time talking to people you can find out what they want. It is a good way to build up a base of buyers, before you even have a product.
Really, this is one of the most important steps, as without buyers, your wholesale business will fail before it has even started. Imagine starting your business and already knowing you have buyers waiting to hand you their money.
5. You will need to spend some time doing your research and sourcing a good wholesaler
You will need a reliable company with good customer reviews and helpful service. You will also need to check their prices and find out whether they have the products that you are looking for. It really pays to do your research at this point.
6. Finally, you can get started and begin selling
You should be aware, as with any business that wholesale will not make you rich instantly. After all, it is not a get rich quick scheme. There really is no such thing. If you are willing to work hard and stick to your business plan you will begin to see money rolling in.