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1. Register your business. The first important step in finding a legitimate wholesale supplier is to be a registered business. Legitimate wholesalers only deal with licensed retailers and before getting approved, you will be required to provide your Sales tax ID Number. If a certain "wholesaler" offers you a deal without asking for your business registration you can be sure that you're dealing with a fake wholesaler or a middlemen scammer. 2. Use a whole dropship directory. In order to find a legitimate dropshipper, you will definitely need a dropshipping directory to guide you. Don't try to look for potential wholesalers by using your search engine. So-called "wholesalers" that are listed in search engines are often middlemen scammers who try to take advantage of new business owners. Keep in mind that Real wholesalers do not advertise in search engines. 3. Be professional. Making a good impression when speaking with a potential dropship wholesaler should be one of your priorities. Introduce your name and the registered name of your business right away. You may do a research in advance for possible questions that you want to ask and take note of it. Have your Sales Tax ID number ready in case you're asked to provide it on your first call. 4. Wholesale price lists are confidential. If a certain "wholesaler" allows you to access their wholesale price list without first setting up your account, you could be dealing with a middleman. The wholesale pricing information should be confidential and exclusive only for registered partners of the supplier. 5. Your Retail Price - total Cost of Goods Sold = Profit. Be sure that your retail price includes all your marketing costs such as website hosting fees, auction listing fees, etc. It is important to determine your profit margin right from the beginning so you'll know whether a product is worth selling or not. 6. Before choosing a product, conduct your own market research. Before deciding which products you want to sell, you'll want to make sure that your decision will be based upon facts. Conducting your own market research will allow you to know firsthand whether a certain product has potential or not. 7. Ensure the quality of your purchase. You can also ask and request your wholesale supplier to send samples of the goods you are planning to sell. This way, you can personally examine and try out the product yourself before introducing it to your market. This step is important not only to avoid poor quality products but knowing what you're selling will also make you a more effective seller. 8. Be clear about the terms and conditions. Before signing up a deal with your chosen dropship wholesale supplier, make sure that you clearly understand the terms and conditions included in your contract. This is important particularly when it comes to the assurance of the quality and delivery of the products.
Article Source: http://www.bharatbhasha.net Article Url: http://www.bharatbhasha.net/finance-and-business.php/171707 Article Added on Monday, October 5, 2009 LD
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