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Wholesalers are not manufacturers. Wholesalers refer to a retail type of business that sells to customers as well as other retail shops. Wholesalers usually have much lower prices in comparison to other retailers. This is because they purchase products in bulk. Thus allowing them to achieve economies of scale and sell at lower prices. They also get trade discounts from manufacturers that usual retailers might not have enjoyed.
Wholesalers are known as the middleman in the supply chain. They may be selling one product or multiple at a time as well. Their entire focus is on selling the goods forward to consumers or retailers at lower than market rates.
Scope
The scope of such businesses is very wide. They are the brokers between the market and the manufacturers. Thus performing a very important task. Over the years this segment of the retail market has expanded a lot. As technology made it easier to shop online. Wholesaling has gotten more developed as well. It is now possible to outsource your products from wholesalers all across the globe. Wholesalers have become a very important part of the supply chain and are integral to the distribution of products.
Ideas
For those of you who are interested in this business and want to take advantage of its scope, there is good news. There are countless types of products that you can sell wholesale. Basically, any good that has high quantity retail will have a wholesale market. Thus we have gone through the effort to list down some of the most successful wholesale businesses.
1: Jewelry
Jewelry is something that is worn worldwide. Thus it has one of the biggest markets out there. This means that there are a lot of manufacturers and a lot of consumers for this product. Starting a wholesale business for jewelry would be a smart choice since you will be in an already established industry.
2: Textile Industry
The textile industry is one of the largest growing industries in the world. It is also a very dependable industry since it produces a necessary product. Everyone needs clothes. Cheap or expensive clothes are a requirement of every human. This makes them an excellent choice for a wholesale business. There is a lot of competition between wholesalers of textiles. Many large corporations use outsourcing to wholesalers in countries such as Pakistan and India. If you decide to open a wholesale textile business you could also outsource your product to a manufacturer. Then afterward selling the product for higher prices abroad.
3: Box Packaging
Packaging materials are also in high demand lately. The shipping industry has grown rapidly. Thus there has also been an increased demand for packaging materials such as boxes. You can open a business for perfume packaging suppliers or any other product. If it goes well, it will be easier to expand to packaging for other products.
4: Stationary Distribution
Stationery includes all kinds of items such as pens, pencils, erasers, etc. They are a necessary item in all households and offices. Their low cost also means that just about every person can afford them. Thus making them a very desirable product to retail. These are some of the reasons why you should invest in wholesale stationery items.
5: Sports Items
4 Billion people in this world follow football alone. This goes to show what a huge following and impact sports have in our lives. Almost all of us have played one sport or another at some point in our lives. This meaning that there is a constant demand for sports goods in the market. This is why a wholesale sports items business will be a profitable venture.
6: Automobile Parts Business
Not everyone can afford to pay higher prices at authorized workshops. Thus a market for local mechanics was created. This market needs a constant supply of spare car parts. These can be sold at a wholesale rate to mechanics who can then sell them to consumers. This market is worth hundreds of millions of dollars and is, therefore, a great place to invest wholesale.
7: Plastic Products
Everywhere we look around us we can find plastic products. From laptop casings to water bottles. Everything is made out of plastic. The plastic industry is a multi-million dollar industry. Plastic products are used in all kinds of industries. They are even used in the cosmetic industry in packaging creams and other materials. Thus this can be a great place to start your wholesale business. You can start off by producing smaller items such as cosmetic bottles.
Conclusion
The retail industry as we know it has progressed a lot. There are exhibition stands in Las Vegas displaying products. These stands are often set up by manufacturers themselves to interact with consumers. Especially with the rapid technological advancements, consumers can directly communicate with manufacturers. However, even in this era of retail wholesaling is very important. They still perform the very important task of bringing the manufacturers, retailers, and consumers to the same table. Thus, even though there are unlimited options to choose from, any option will bear you fruit as long as you work productively.
