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6 Common Product Sourcing Questions Answered
If you’ve got a question about your E-Biz, someone else has probably already asked it. Matthew Hedges, customer support manager for product sourcing experts http://www.worldwidebrands.com, and author of The Online Research Guide to Picking Products That Sell, answers the six most common product sourcing questions he gets from customers looking to start an E-Biz:
1. Will suppliers care if I’m a new online retailer working from home?
2. How can I convey to a supplier that I’m a serious professional, not a fly-by-night home business?
• When you contact a supplier — get to the point. Wholesale suppliers are busy people. They want to help their retailers but don’t have time to chit-chat. So get to the meat of your question as quickly as possible.
• Proofread and spell check your emails. An email full of typos, sentence fragments, and run-ons doesn't convey professionalism.
• Be patient. Just because a supplier doesn’t respond to your questions the same day you send them is no reason to get agitated. If they think you’re going to be a demanding customer, chances are they won’t work with you.
3. I found a supplier I want to work with — what’s my first step?
4. I only want to sell popular name brand items — how do I get a supplier?
5. Should I be focusing on “hot sellers” like iPods, gaming consoles, designer clothes, and DVDs? Can I drop ship them?
Beyond that, the manufacturers of these items set astronomical buying minimums — say $100,000 each contract term. You could mortgage your house to meet the minimum, and your wholesale prices would still be much higher than those of the big chains that get additional discounts for spending millions with suppliers.
Finding a supplier who’ll drop ship these items individually is almost impossible. It’s cost-prohibitive for them — especially in clothing where the return rates are usually high. And again, your wholesale rate for one item won’t let you compete with sellers buying in bulk.
6. There’s an item I really want to sell, but I can’t find a supplier who’ll work with me — what now?
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