Have you ever thought of selling wholesale products on Amazon? This is actually a great way to increase your profit margin. And like any other business models, wholesaling also requires a bit of work on your part since you are going to do a lot of negotiating…
But even before you start to negotiate, you’ll have to find profitable wholesale accounts first and try to enter into a business relationship with them.
So if you are interested to know more, then we suggest that you go on reading as we are going to provide useful tips in finding profitable Amazon wholesale suppliers and open up a lot of great opportunities to your online business.
The Pros And Cons Of Wholesale Selling
Before we proceed in determining the things you need to do in finding moneymaking FBA wholesale suppliers on Amazon, allow us to share to you first the pros and cons of wholesale selling:
Here are the benefits you can get once you sell wholesale items on Amazon:
- Branding is the least of your concern since most of the wholesale items you are going to sell have already established brand recognition from consumers
- You won’t have to invest time perfecting the products you are going to sell
- Prices are fairly steady
- You can offer a lot of products to your target market
- You will have less competition if you choose the items wisely
On the other hand, here are the downsides of wholesale selling:
- Some manufacturers/distributors are not very keen on selling their products on Amazon
- You may have to look for manufacturers who are not yet selling on Amazon
- More capital is needed as you need to order items in large quantities
- Product margin is lower
Finding A Profitable Partner In Amazon FBA Wholesale Suppliers
As previously mentioned, you will need to find wholesale sellers who are willing to provide their list of products and contacts. So it will take a lot of work to build up that list as you will have to carefully scrutinize which is reliable as you establish a business relationship with these sellers.
So here are the tips you need to remember in finding profitable Amazon wholesale suppliers:
- Go To Trade Shows – There’s practically a trade show happening in every town or state about every single type of topic or niche. So what you need to do is to find trade shows that are in your area through Google. Once you find a trade show, then next thing you must do is to walk in (it’s for free) and check out items or gather ideas on what you can sell to your online store. And while you’re checking out the goods, try to establish relationships on the people who put up booths in the trade show.
Just bear in mind that there are 2 types of people who are participating at trade shows, a manufacturer and a distributor. So try to determine which is which so you can devise an approach on how to negotiate with these people.
- Visit Trade Show Websites – If you don’t have time to go to trade shows physically, the next best thing that you can do is to visit trade show sites.
Open your web browser and search for trade show sites. Go to the website, register, and secure a vendor list of the people who participated in the event. Once you find a particular person you are interested in, send email to them and try to establish a professional relationship and ask them if they can possibly send a list of their items and help you set up a wholesale account. Don’t be afraid to ask them directly if they can let you gain access to the items they are selling.
- Product Box – Try to look closely at the box of a particular product you are interested in selling and you will see information about the manufacturing company and address and look for more details online. Once you find the information that you need, send an email to them and let them know of your intentions of being a wholesale seller/distributor on Amazon.
Pro Tip: Think of the items that you can find locally but are not found in other areas (or items which people from other towns don’t have access to) and try to sell these items in your online store.
- Go To Amazon.com And Look For The Best Sellers – Lastly, you won’t have to go far in finding the ideal wholesale partner as you can go directly to Amazon.com and find out who is the best manufacturers and try to establish a relationship with them.
Just try not to compete with Amazon. In short, if Amazon is already selling this product that you are also interested in selling, then don’t try to sell this product also as Amazon will obviously prioritize their items over yours.
Buying wholesale items to sell on Amazon can be a lucrative business model especially if you establish a strong professional relationship with manufacturers. So apply these tips you have learned today about finding profitable Amazon wholesale suppliers and diversify the way you earn from your online business today.